the financial close market includes capabilities that support and automate the close, consolidation and reporting processes of the overall finance record to report process. thankfully to blackline, all the information is stored online and is accessible by everyone at any time of the day. my team and i love the system, we have received to-notch support from our account manager and the other support staff, and we had the benefit of working with a perfect partner on integration. 2 specific issues were 1) when loading balance data, if arcs reports a warning message for invalid/missing mappings, this information is not fed back to the epm automate. the implementation was very smooth and our users were ready to go.
customer support is excellent and helped to implementation the way it was planned. over the past 2-3 years, trintech has really made a dramatic improvement in their customer service and ability to support large enterprise customers like my company. the system is very easy to setup and use. easy to speak with conso specialists, implementation was easy and interaction with our reporting tool as well. this automation ensures that the team can focus their time and effort on other important tasks. the implementation team was great and the implementation went smooth.
documenting the key steps in the financial close process and the capabilities organizations should consider when evaluating financial close software solutions was the focus of the recently published gartner market guide for cloud financial close solutions. one of the key drivers for this decision was diversity of vendors in this particular magic quadrant report. (see figure 2) given the breadth of requirements in the financial close process, the magic quadrant for this market segment wasn’t really comparing apples to apples. (see figure 1) accordingly, vendors in the cloud financial software market need to provide support for one or more of the following requirements: for the purposes of this market guide, gartner identifies three distinct categories of vendors and solutions to support the financial close process.
blackline and trintech) best of breed platform vendors – including most, but not all, financial close (and financial planning) capabilities and integrating with any source systems. the first is that covid-19 forced many finance teams into remote operation and with recovery underway, many will continue to operate all or part of their finance teams remotely. and the third trend is that vendors are expanding their offerings to provide ai-infused automation capabilities not only within the financial close period, but also within the periodic accounting cycle. gartner also highlighted that onestream primarily targets midsize to large, complex global enterprises and historically, the majority of its customers have been based in north america. to learn more about the key market trends and how onestream compares to other vendors in the market, download the gartner market guide for cloud financial close solutions.
“top tool for financial consolidation end reporting.” very user friendly tool for consolidation. the implementation and the transition from the “excel” the primary reason for onboarding this software is because our organization already have oracle financials and the experience has been good. gartner correctly identified that onestream’s intelligent finance platform supports financial consolidation, financial reporting, financial, gartner financial close magic quadrant 2020, gartner financial close magic quadrant 2021, blackline gartner magic quadrant, blackline gartner magic quadrant, gartner magic quadrant account reconciliation.
they published their magic quadrant report on cloud financial and workiva who don’t support financial consolidations but do support financial close solutions help the office of finance manage the financial close and apply appropriate controls throughout the accounting cycle. application cch tagetik’s unified solution combines a single point of truth with financial consolidation and close, packaged regulatory reporting and disclosure management,, gartner cpm magic quadrant 2021, cloud-based consolidation software, 2021 gartner market guide for cloud financial close solutions, financial close software. which tool is recommended for financial consolidation? what is financial consolidation software? what is a financial close solution? what is cloud financial close solutions?
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