BPM Partners, a privately held advisory services firm with an exclusive focus on business performance management, recently released “Predictions for Performance Management in 2019.” Among those predictions are two that stand out to us.
Prediction: Many More Companies will be Upgrading from Legacy Systems
BPM Partners writes, “We have seen a recent surge of companies looking to replace their legacy on-premise performance management systems with a more modern version and this will continue to grow.” This is something we are certainly seeing as most TM1 users are upgrading to IBM Planning Analytics over the next few quarters. Much of this is due to support for TM1 10.2.2 ending on September 30, 2019.
As TM1 users upgrade to Planning Analytics, they are taking the time to evaluate their current environments, and assess if they want to remain with an on-premise version, move to the cloud, or select a hybrid environment.
Prediction: Company-wide Planning will Gain Traction
BPM Partners writes, “Integrated business planning has been a goal for many years. Most organizations have fallen short when it comes to achieving this goal because of two issues: difficulty in coordinating major cross-functional initiatives and lack of technology support.
“Who drives and oversees this cross-functional initiative (integrated business planning) and makes sure the company doesn’t end of up a collection of disconnected point solutions? … The consensus seems to be that it is the CFO who should oversee coordinated and connected company-wide planning.”
We’ve long seen performance management solutions such as TM1 be used for both financial and operational planning and analysis. Our partner, Adaptive Insights, offers a range of solutions for integrated planning throughout the enterprise. While we focus on Adaptive Insights for Finance, Adaptive Insights also provides Adaptive Insights for Sales and Adaptive Insights for Workforce Planning.
Regardless of whether a company is upgrading from TM1 to Planning Analytics, or looking to expand planning beyond finance, the picture looks bright. As BPM Partners says, “In 2019, there will be more reasons than ever for those that have remained on the sidelines to get on board with performance management.”
Read additional blog posts discussing industry analyst reports on performance management:
BPM Partners Vendor Landscape Matrix for Financial, Strategic, and Operational Business Performance Management
Gartner Magic Quadrant for Cloud Financial Planning and Analysis Solutions