Dresner Advisory Services released their 2018 Small and Mid-Sized Enterprise (SME) Planning Market Study last week, examining the enterprise planning processes and needs of these organizations, and how they differ from larger enterprises. The study also evaluates planning software used by SMEs, with the report recognizing Centage’s Maestro Suite as a leader in the Experience and Credibility categories.
The study reports a significant increase in adoption of planning software in the SME space. In 2017, Dresner found that only 24 percent of small and mid-sized enterprises were leveraging planning software. The 2018 survey, on the other hand, found that number had jumped to 60 percent, with 68 percent of mid-sized organizations already having adopted the technology.
But adoption has far outpaced the projections from Dresner’s 2017 survey. This means that SMEs are choosing and implementing planning software outside of their normal planning cadence. Compelling offers and value propositions from vendors in the space, like Centage, combined with short-term needs, seem to be swaying enterprises to move beyond spreadsheets.
Understanding the position and adoption of planning software for SMEs is important, as the needs of these organizations can differ from larger enterprises. The report identifies certain areas, like strategic planning and rolling forecasts to be of similar importance between small, medium and large organizations.
Other areas, like cash-flow forecasting, proved more important to smaller enterprises. SMEs should evaluate planning software to ensure it is fully featured as well as easy to manage and deploy, while small organizations should take additional care to find solutions that are well suited to their needs, involving key business leaders as appropriate.
Deployment options differed between organization size, as well. In particular, small organizations rate cloud hosted solutions over other solutions, while larger organizations lean toward fully featured solutions that are part of a complete suite of software. The difference in preference was notable even between small and mid-sized companies – 24 percent of small organizations view SaaS applications as critical, with only 12 percent of mid-sized and large organizations considering cloud-based delivery as important. When evaluating planning software, enterprises of all sizes should define their optimal delivery model prior to evaluating vendors.
The report also provides vendor rankings based on real-world usage by customers. Vendors were divided into quadrants in the areas of both customer experience and credibility. Those located in the upper-right quadrant of the results were deemed industry leaders.
Centage ranked in the leader’s quadrant for both criteria. With features identified as important to both mid-sized organizations and small enterprises, Centage outranked heavy hitters like SAP and Microsoft in both categories. Centage’s commitment to customer service was reflected in the ratings, putting them ahead of all other solutions. In credibility, Centage and the Maestro Suite scored the highest in combined value and customer confidence.
Planning and forecasting are as important to smaller and mid-sized organizations as they are to large enterprises. It’s clear, however, that the needs of these companies differ from their larger counterparts, making a one-size-fits-all solution difficult to find. There are clear winners in the space, though, for those SMEs looking for the right tool that provides excellent value and service.
Click here to view the full report.
Small to mid-market organizations rely on Centage Corporation’s Maestro Suite, which includes Budget Maestro™ to help them keep track of and manage their cash flow. Budget Maestro improves the efficiency and effectiveness of business budgeting and planning, financial forecasting, financial consolidation, and reporting processes. For more information, take a tour of Budget Maestro, contact Centage, or call 800-366-5111 now.