Gartner Inc. is a US based research and advisory firm. Every year, they publish the Magic Quadrant. According to Gartner, “A Gartner Magic Quadrant is a culmination of research in a specific market, giving you a wide-angle view of the relative positions of the market's competitors. By applying a graphical treatment and a uniform set of evaluation criteria, a Magic Quadrant helps you quickly ascertain how well technology providers are executing their stated visions and how well they are performing against Gartner's market view.”
The Magic Quadrant places technology providers into a quadrant based on a series of criteria. The positions these providers can assume are described by Gartner as follows:
- Leaders: execute well against their current vision and are well positioned for tomorrow.
- Visionaries: understand where the market is going or have a vision for changing market rules, but do not yet execute well.
- Niche Players: focus successfully on a small segment or are unfocused and do not out-innovate or outperform others.
- Challengers: execute well today or may dominate a large segment, but do not demonstrate an understanding of market direction.
In 2018 Gartner has broken the CPM Magic Quadrant into two separate quadrants. One for Cloud Financial Close Solutions and one for Cloud Financial Planning and Analysis Solutions.