Magic Quadrant for Financial Close and Consolidation Solutions
Vendors or products added in this year’s report may indicate a change in the market, change in evaluation criteria, or change of focus by the vendor.
Vendors or products dropped from one year to the next may indicate a change in the market, change in evaluation criteria, or change of focus by the vendor.
This Magic Quadrant evaluates vendors in the Financial Close and Consolidation Solutions (FCCS) market, which enables CFOs and their teams to manage organization's group close, consolidation and reporting processes. The market is responding to increased complexity of company structures, escalating financial regulations, multiple systems of record, and the rise in remote working. Vendors are increasingly incorporating AI and machine learning capabilities for automation, anomaly detection, and enhanced analytics.
A: Vendors are reviewed and the mix may change over time as a reflection of changes in the market and evaluation criteria, or changes in vendor focus. A vendor's appearance in a Magic Quadrant one year and not the next does not necessarily indicate a changed opinion of that vendor, but may reflect market changes or shifted vendor focus. Vendors must meet specific inclusion criteria including product capabilities (supporting financial consolidation, financial reporting, and workflow management), market presence (minimum customer counts or growth rates), and cloud deployment requirements.