Tidemark Touted as “Unique and Visionary” in Financial Performance Management Q3 2013 Research Report
Major Independent Research Firm Recognizes Tidemark as a “Strong Performer”
REDWOOD CITY, Calif. – September 11, 2013 – Tidemark, the cloud-based enterprise analytics company, was recognized today by Forrester Research, Inc., as a “Strong Performer” in the Forrester Wave™: Financial Performance Management (FPM), Q3 2013 report. Tidemark believes that this citation in the Wave acknowledges the performance and momentum of Tidemark’s cloud-based applications, as well as the company’s vision to empower enterprises to develop a culture of data-driven performance, adding context and providing visibility into business analytics.
As stated in the report, “Tidemark offers a unique and visionary approach. Tidemark, a visionary startup, is looking to disrupt the FPM category with compelling usability and a product built with the latest advanced technologies like mobile, social, cloud, and big data.”
“Tidemark raises the bar on innovation [and] will appeal to enterprises looking for consumable planning and operational performance reporting solutions, which we expect to gain more depth, maturity, and modeling configurability,” Forrester stated in the report.
According to Tidemark, financial processes such as planning, budgeting and forecasting have not kept pace with the rapidly evolving technology landscape, and without a corporate culture committed to a focus on real-time data to inform decisions, company performance suffers. According to the report, “In an age in which real-time information is possible, finance processes still play out in relatively slow motion, driven more by control and accountability than by true business performance.”
“The FPM landscape must innovate to empower employees across the enterprise to harness the power of cloud, big data, mobile and social to make data-driven decisions,” said Phil Wilmington, President and COO, Tidemark. “Companies with an innovative vision that are seeking a competitive edge will continue to successfully challenge the status quo supported by legacy providers. They will leverage new technology solutions to transform financial processes and embrace a true culture of performance.”
One of the report’s key takeaways is: “As on-premise applications are becoming outdated and difficult to maintain, SaaS becomes more attractive to firms seeking faster implementation, lower cost and easier upgrades.” Forrester expects SaaS to become the primary FPM deployment model within three to five years.
The Forrester Wave for financial performance management evaluated the 11 most significant software providers in the space. The report provides context on how each provider performed in relation to other providers and the market need. Each vendor included in the report has a solution breadth (including planning, reporting and performance analysis), mindshare and typical inclusion in client vendor analysis, and ability to scale to serve the needs of customers with more than $1B in revenue.
Tidemark helps medium and large enterprises transform their businesses with cloud-based planning, forecasting and analytic applications that work for everyone on any device. Tidemark apps empower business users to affect the complete story of their company performance. Leading companies using Tidemark's multi-tenant platform for analytics and performance management include Chiquita, Hostess Brands, Pabst Brewing Company, ServiceSource and Brown University. Tidemark is funded by Greylock Partners, Andreessen Horowitz, Redpoint Ventures, Tenaya Capital and Dave Duffield. To learn more about Tidemark, please visit www.tidemark.com or follow us on twitter @TidemarkEPM.