by Saeward Schillaci, The Resource Group
The options for new corporate performance management (CPM) software can be overwhelming and confusing. Many competing solutions proffer similar functionality and nearly identical taglines. How do these products actually differ? Which ones are better? In this blog, we will compare customer ratings and basic features of Solver’s BI360 and four other CPM solutions.
According to their website, Solver’s BI360 specializes in providing “financial reporting, budgeting and analysis with push-button access to all data sources that drive company-wide profitability.” If you’ve researched many CPM solutions, you know that this description is nearly identical to most CPM software summaries. What’s more important is knowing that BI360 receives consistently high customer satisfaction ratings, so it may be a good option for improving your company’s financial planning processes.
BI360 is consistently praised by customers who enjoy the software’s intuitive and comprehensive functionality. Customers love that BI360 is designed as an Excel add-in. In addition, this solution is flexible – it can be installed on-premises or used in the cloud by paying a monthly subscription fee. BI360 offers quite a few pre-built integrations to enterprise resource planning (ERP) systems, works well for companies in many industries, and can be bought modularly to avoid purchasing unnecessary functionality. Pretty much everybody enjoys how intuitive and flexible the solution is, and says that it makes life easier for their business. It’s also rated as being a good value for the price. Check out this blog for a more in-depth analysis of customer reviews about BI360.Adaptive Insights
Adaptive Insights markets itself as “the only financial planning and analysis (FP&A) and business budgeting software that is easy, powerful, and fast.” Although competitors would surely dispute this claim to singularity, there is no doubt that Adaptive Insights has a large market share and consistently earns high ratings from customers.
This software is cloud-based and includes budgeting, planning, forecasting, reporting, and dashboards. Similar to BI360, Adaptive Insights can be purchased as a full suite or paid for modularly to reduce subscription costs for customers. Customers praise the CPM solution for its high quality customer support, comprehensive functionality, and scalability. The user interface is one of the most significant differences between BI360 and Adaptive Insights. BI360 is designed as an Excel add-in, while Adaptive Insights has its own web-based interface that is somewhat different. This means that formulas have to be manually entered into the Adaptive Insights system rather than being imported directly from Excel. In addition, many customers say becoming a skilled user of Adaptive Insights requires quite a bit of training. Overall, Adaptive Insights has robust functionality and high ratings, but many users consider the interface to be relatively unintuitive. As a result of this and other factors, extensive time and money might be required for implementation and training.Host Analytics
According to their website, Host Analytics helps “finance teams drive peak performance with a cloud-based platform that helps automate, accelerate, and align financial processes.” This cloud-based solution is structured with modules that include planning, consolidations, modeling, and reporting. Overall, the design of Host Analytics is similar to both BI360 and Adaptive Insights, and Host Analytics receives fairly similar ratings from customers. Historically this solution has had a smaller market share than BI360 or Adaptive Insights, but the company has been growing fairly rapidly over the past few years.
When it comes to reviews, Host Analytics is best distinguished by how much users love the customer support. Users sometimes criticize the product for having an unintuitive interface, but those who love the software are willing to sacrifice this for the trade-off of having incredible customer service.Prophix
This CPM solution’s website declares, “Prophix develops Corporate Performance Management software that automates important financial and operational processes, making companies more profitable and reducing their risks.” These marketing buzzwords are pretty similar to those that describe the three solutions above, and the design of Prophix is comparable to the other three as well. Like BI360, Prophix can be purchased for use on-premises or based in the cloud. Unlike the previous solutions discussed here, Prophix is sold as a complete CPM package instead of selling individual modules.
Unfortunately, users consistently rate Prophix with less satisfaction relative to BI360, Adaptive Insights, or Host Analytics. Prophix seems to have less effective customer support on average, and some customers complain about an implementation that took much longer than Prophix originally promised. It also seems to take a long time to learn how to use properly, and some users also say that at times the application runs slowly. Plenty of customers express satisfaction as well, but overall those who opt for Prophix should know that historically not every implementation has been a slam dunk.Hubble
Compared to the four previously discussed solutions, Hubble’s CPM software is a little more specialized. It provides reporting, analytics, and planning specifically for Oracle E-Business Suite, JD Edwards, and SAP. According to their website (which has a refreshing scarcity of marketing buzz words), Hubble “integrates your critical business systems so users at all levels have access to live data extraordinarily fast.” The software benefits from this specialization and is rated very highly by its customers. Many praise Hubble for being user-friendly, having great customer support, and smooth functionality.Conclusion
Hopefully reading this has helped you understand some of the similarities and differences between BI360, Adaptive Insights, Host Analytics, Prophix, and Hubble. These five examples of CPM software represent a popular sampling of the many options available on the market. If you have any questions about what CPM solution might be best for your company, feel free to contact us here at The Resource Group.