2023 Gartner® Magic Quadrant™ for Financial Close and Consolidation Solutions
AUTHOR
Learn why Fluence Technologies, an Anaplan company, was recognized as a Challenger based on its Completeness of Vision and Ability to Execute.
In November 2023, Gartner released its Magic Quadrant for Financial Close and Consolidation Solutions (FCCS) report. As a first-time contender, Fluence Technologies, now part of the Anaplan company and platform, was recognized as a Challenger on the quadrant.
We believe this recognition is a testament to our ongoing commitment to transforming the financial close, consolidation, and reporting landscape with an innovative, cloud-based, no-code solution that’s tailored for organizations worldwide.
A challenger that we feel is changing the game
Financial close, consolidation, and reporting processes are essential for most organizations. These processes can be particularly challenging for large companies with multiple enterprise resource planning (ERP) and general ledger (GL) systems to consolidate. This complexity only increases with unique organizational structures, stricter regulatory requirements, and the need to manage and retain remote teams.
While software to support these tasks has existed for over two decades, innovation in the close, consolidation, and reporting space has stagnated. Organizations today require modern, cloud-based solutions with advanced features and functionality to simplify and accelerate their financial close, consolidation, and reporting processes.
Our position on the Magic Quadrant
A Magic Quadrant provides a graphical competitive positioning of four types of technology providers, in markets where growth is high and provider differentiation is distinct. Fluence, now part of the Anaplan platform, is recognized by Gartner as a Challenger in the Magic Quadrant for FCCS report. Proud to be acknowledged as a Challenger, we feel we are committed to providing our customers worldwide with:
- Cloud-based, no-code technology that’s owned and maintained by finance and accounting, not IT
- Drag-and-drop workflows with pre-built tasks, simplified data loads, and integration with collaboration tools
- Record-to-report audit trails that streamline a quick and painless year-end close
- Pre-built consolidation logic, rules, and templates, all configurable to your specific business needs
- Streamlined and automated tasks, workflows, report creation and distribution
- Integration with existing ERPs, GL systems, and more to power a fully connected finance data landscape
Gartner Magic Quadrant: Why we think it matters
We believe the Gartner Magic Quadrant is a highly respected tool for evaluating vendors in various markets, offering insights into both current performance and future potential. In the Gartner FCCS report, vendors are assessed based on their Ability to Execute and Completeness of Vision, guiding businesses in making informed technology investments.
The report evaluates vendors based on their Completeness of Vision and Ability to Execute, categorizing the results into four quadrants: Leaders, Challengers, Visionaries, and Niche Players.
We feel this report is crucial for corporate controllers and financial teams seeking a reliable, forward-thinking partner to help transform their accounting processes.
Joining forces with Anaplan: The future of financial close
We’re excited about the future of enhanced financial close and consolidation capabilities within our market-leading Connected Planning platform. The addition of Fluence to the Anaplan platform further strengthens our ability to support customers with powerful, cloud-based solutions that streamline the close-to-disclose process. To see why Fluence was recognized as a Challenger, read the full report and discover the future of financial consolidation.
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This graphic was published by Gartner, Inc. as part of a larger research document and should be evaluated in the context of the entire document. The Gartner document is available upon request from Anaplan.
Sources: Gartner Magic Quadrant for Financial Close and Consolidation Solutions, Nisha Bhandare, Permjeet Gale, Jeffrin Francis, Renata Viana, 27 November 2023