Gartner Magic Quadrant Findings: Leading ERP Solutions for 2023
In order to thrive in today’s ever-changing environment, leaders must shift their focus to implementing sustainable and flexible ERP solutions that provide employees with the tools they need overcome current issues while setting their business up to prosper well into the future.
To help you identify which ERP solution is best to pursue in 2023 and beyond, our Cloud Solutions team has outlined some of the key takeaways from Gartner’s 2022 Magic Quadrant report.
What is the Magic Quadrant?
The Magic Quadrant is a compilation of market research reports published by IT consulting firm Gartner that aims to identify the top cloud-based Enterprise Resource Planning (ERP) solutions.
This resource includes a set of evaluation criteria to help business executives understand which applications will best suit their needs in developing and integrating a scalable ERP strategy.
Based on Gartner’s criteria, each solution will fall into one of the following categories:
- Leaders: Solutions that are well executed today and are positioned to be successful in the future
- Challengers: Solutions that are currently successful, but do not align with predictions for how the market will evolve, signaling that they may become unsuccessful or outdated in the future
- Niche Players: Solutions that focus solely on a small market segment or those that do not outperform other providers
- Visionaries: Solutions that account for where the market may be heading, but do not yet have the tools to execute as well as other providers, signaling a solution that may become more successful over time
Gartner Magic Quadrant 2022 Takeaways: Oracle Fusion Cloud ERP and Oracle NetSuite as Leading Cloud Providers
According to the 2022 Magic Quadrant Report, Oracle Fusion Cloud ERP and Oracle NetSuite are considered leading solutions based on the completeness of their vision and their ability to execute in today’s environment and beyond.
Oracle Fusion Cloud ERP
Oracle Fusion Cloud ERP’s reputable standing is due to the solution’s proficiency in providing large enterprises with a highly configurable global solution, offering a diverse array of partner services, and creating a more flexible cloud architecture by integrating options for utilizing third-party solutions.
With robust HR tools, mature financials, extensive purchasing capabilities and more, Oracle Fusion Cloud ERP can be leveraged to:
- Manage and optimize financial planning and analysis, accounting, revenue recognition, risk management, compliance and other business activities from a single cloud-based interface
- Save time and cut down on overhead spend by automating manual business processes and workflows
- Provide real-time visibility into important company data and ongoings and enhance reporting and analytics efforts, allowing you to make more informed decisions
- Streamline communication processes and foster more company-wide alignment
Oracle NetSuite is considered a leader due to their proven capabilities in providing small to mid-sized enterprises with a strong global presence and partner ecosystem, the ability to integrate robust functionalities for planning and budgeting, and enhanced procurement functionalities, to name but a few.
With proprietary tools for automating processes, managing customer ongoings and more, Oracle NetSuite can be leveraged to:
- Consolidate your accounting, planning, procurement, projects and analytics endeavors under one platform
- Utilize powerful and intuitive methodologies to enable end-to-end business transformations
- Boost company-wide productivity and alignment as processes are streamlined and performance is measured
- Obtain access to hands-on training and post-deployment support to save time and reduce costs while allowing you to make the most of your implementation
How to Choose the Right Cloud-based ERP Solution
Identifying which cloud-based ERP solution is the best fit for your unique company needs involves turning to a trusted partner who spends the necessary time and effort to understand your business, processes and goals on a molecular level.
Without the right guidance and expertise, you may find yourself running into a number of issues – wasting time and money on integrating technologies that simply just won’t work for you, making misinformed decisions based on bad data, and the potential for a poorly integrated system to cause friction with your customers and stakeholders, to name but a few.
Our Cloud Solutions team has decades of collective experience in helping organizations align, transform and optimize their finance and accounting functions with Oracle’s world-class technology solutions.
As an Oracle partner, we offer expert guidance at every phase of your implementation. From strategy, deployment and planning to adoption and beyond, we are committed to making your journey a transformation while enabling the right tools and procedures to minimize risks, gain efficiencies and maximize outcomes long into the future.
As a Managing Principal for ArcLight Consulting, Michael leads the firm’s growth strategy and Technology Consulting initiatives, which help organizations leverage technology to drive full-scale business transformations.