Despite the special circumstances in the midst of the COVID-19 crisis, LucaNet was ranked market leader in the BARC Score for Financial Performance Management (FPM) DACH for the fourth time in a row. Once again, the Business Application Research Center (BARC), an independent research and consulting institute, rates software provider LucaNet as market leader.
Read more about the BARC Score in general, according to which criteria the providers are evaluated, and how LucaNet positions itself on the DACH FPM market.
What is the BARC Score FPM DACH?
The BARC Score FPM DACH analyzes the market for FPM products and portfolios in the DACH region (Germany, Austria, and Switzerland). Based on various data points from multiple BARC surveys and analyst reports, providers are evaluated based on a variety of criteria, from portfolio architecture, functionality, and product and sales strategy to software revenue and customer feedback.
In general, the BARC Score is divided into numerous market segments:
- BARC Score Integrated Planning & Analytics
- BARC Score Integrated Planning & Analytics DACH
- BARC Score Financial Performance Management
- BARC Score Financial Performance Management DACH
- BARC Score Enterprise BI & Analytics Platforms
- BARC Score Analytics for Business Users
- BARC Score Robotic Process Automation
- BARC Score Marketing Automation
The respective BARC scores support users in deciding on a suitable solution for their company and provide information on why a professional software solution is indispensable in times of advancing digitalization of accounting.
How does a provider qualify for the BARC Score FPM DACH?
To be included in the BARC Score Financial Performance Management DACH, providers and products must have a proven focus on Financial Performance Management functionality and meet four of the following five criteria:
- Financial planning
- Operational planning and forecasting
- Reporting system
In addition, software revenue also plays an important role if a provider is to be included in the BARC analyst report. A minimum annual turnover of 20 million euros is required for this, as well as a significant number of implementations and license sales in the DACH region.
How are the providers' products evaluated?
Each provider is evaluated on the basis of two dimensions: "Portfolio Capabilities" (functional scope, portfolio architecture, integration, business user friendliness) and "Market Execution" (product strategy, financials, sales strategy, etc.). Customer feedback also plays an important role. User satisfaction with BI and planning tools is incorporated from "The Planning Survey" and "The BI & Analytics Survey". In these reports, numerous companies are asked how satisfied they are with the respective software providers and products.
READ BARC REPORT NOW
How are the products segmented for the BARC Score FPM DACH?
After the solutions and portfolios are evaluated in the BARC scores based on the two dimensions "Portfolio Capabilities" and "Market Execution", they are classified into five different segments: Entrants, specialists, challengers, market leaders, and dominators.
Segment 1: Entrants
The entry-level segment usually includes startups that are still new to the market and thus have low visibility as well as deficits in the range of functions.
Segment 2: Specialists
A provider that is classified as a specialist usually has a portfolio that focuses on a specific market segment. Specialists also often focus on a specific region instead of the global market.
Segment 3: Challengers
Challengers mostly focus on expansion strategies. The companies included in this segment can be both larger companies looking to enter a new market and smaller innovative providers whose solutions are one step ahead of the competition.
Segment 4: Market leaders
Market leaders are well-established software providers who have extensive brand awareness due to technological advances, a large range of functions, and a solid product strategy. LucaNet has been ranked as a market leader in the BARC Score FPM DACH since 2018.
Segment 5: Dominators
Dominators are the most influential product providers. They have both a broad portfolio of market-leading and dominant products with a strong brand, as well as robust commercial performance through world-class sales and marketing programs, an extensive ecosystem of business partners and alliances, and a rock-solid financial position.
Why you should rely on the market leader LucaNet
LucaNet's FPM solution offers the following functions:
- Preparation of consolidated financial statements, financial planning, analysis, and reporting of financial data at the push of a button
- Automatic data imports from common source systems (SAP, DATEV, Microsoft Dynamics NAV, and more)
- Web-based option for data collection, including intercompany reconciliation
- Certified software (IDW PS 880) with integrated validation rules
- Planning logic and billing rules for automatic reconciliation in an integrated planning model
See the solution overview for more information on LucaNet's portfolio.
For accountants, there been an increase focus in technology adoption, reporting cycles and compliance in 2020. Here's our summary of topics featured in 2020's accounting-related articles.
In our latest quarterly business review, our employees took the time to explore and share their thoughts on: What does it mean to work at LucaNet ASEAN? Read more to discover our LucaNet identity.