Anaplan vs. Competing Platforms: A Detailed Comparison of EPM Solutions

Anaplan vs. Competing Platforms: A Detailed Comparison of EPM Solutions

By Aleksandar Mihaylov

Anaplan vs. Competing Platforms: A Detailed Comparison of EPM Solutions

By Veselina Stoyanova

July 16, 2024

In today’s business environment, selecting the right enterprise performance management platform is crucial. This article compares Anaplan, a leading cloud-based solution, with top competitors like OneStream, Oracle Fusion Cloud EPM, SAP Analytics Cloud, and Workday Adaptive Planning. By evaluating features, strengths, pricing, and customization options, we aim to guide businesses in choosing the best platform for their planning needs and driving growth efficiently.

Choosing the right enterprise planning platform is crucial for business success. The market for Enterprise Performance Management (EPM) solutions is rapidly growing, with several compelling statistics highlighting its importance:

"An infographic titled 'The Market for EPM Solutions' presenting three key statistics: $8.3 billion is the EPM market projected to reach by 2027, growing at a CAGR of 7.0% from 2020 to 2027; 15% increase in operational efficiency by implementing EPM solutions report; 60% of large enterprises plan to increase their investment in cloud-based EPM solutions within the next two years.

Anaplan is a leading cloud-based planning software, empowering organizations to make real-time informed decisions. However, with numerous alternative platforms available, it is crucial for businesses to compare their options carefully. This article presents a comprehensive comparison of Anaplan with its top competitors to assist businesses in selecting the most suitable solution for their planning needs, backed by relevant statistics and insights from industry leaders.

What is Anaplan

Anaplan offers a suite of features and functionalities tailored to the needs of enterprise-level organizations. Its robust modeling capabilities, coupled with advanced scenario analysis tools, enable businesses to simulate various scenarios and assess their potential impact accurately. Anaplan’s collaborative planning environment fosters cross-departmental cooperation, facilitating alignment and consensus across the organization. Furthermore, the platform’s predictive analytics capabilities empower businesses to forecast future trends and make proactive decisions.

Target Audience and Industries Served

Anaplan primarily caters to large enterprises across a wide range of industries, including finance, retail, and manufacturing. It is particularly suitable for organizations with complex planning requirements. Whether it’s financial planning, sales forecasting, or supply chain optimization, Anaplan provides the tools and capabilities necessary to drive growth and efficiency.

Key Strengths of Anaplan

Anaplan’s planning software strengths lie in its scalability, flexibility, and seamless integration capabilities. As businesses grow and evolve, Anaplan can easily extend to accommodate changing needs, ensuring continued support for expansion and innovation. Its adaptable architecture allows for customization to suit specific business requirements, enabling organizations to tailor the platform to their unique needs. Moreover, Anaplan’s integration capabilities ensure smooth data flow across systems, leveraging existing investments and maximizing efficiency.

Exploring Competing Platforms

In addition to Anaplan, several alternative platforms compete in the enterprise planning space. Among the notable competitors are OneStream, Oracle Fusion Cloud EPM, SAP Analytics Cloud, and Workday Adaptive Planning. Each platform offers its own set of features and strengths, catering to different segments of the market Top of Form.

General Pricing Structure Comparison

Anaplan adopts a tiered subscription-based pricing model, which adjusts according to usage, user count, and the inclusion of supplementary features. Implementation fees may also be incurred. Similarly, competitors like OneStream, Oracle Fusion Cloud EPM, SAP Analytics Cloud and Workday Adaptive Planning offer subscription-based pricing, commonly supplemented by implementation fees. Additional costs, such as add-on features, support and storage might vary depending on the chosen platform.

A diagram titled 'General Pricing Structure Comparison' showing pricing models of various EPM platforms. The subscription-based model includes Anaplan, Oracle, SAP, Workday, and OneStream. The implementation fee structure includes the same providers. Additional costs are noted for features, enhanced support, services, storage, and other factors for platforms like Anaplan, Oracle, SAP, Workday, and OneStream

Pre-built & Custom Solutions Comparison

Navigate through the table below to gain insights into the various features of Pre-built and Custom solutions offered by each platform. This breakdown, together with the information provided in the complete article, will assist in discerning the optimal choice tailored to your unique business requirements and preferences.

It’s important to note that sometimes opting for a solution highly customized to specific needs and requirements can offer greater advantages compared to off-the-shelf, pre-built solutions.

Keep Exploring: Pre-built vs Custom EPM Solutions

Anaplan planning software stands out from its competitors due to their advanced cross-functional capabilities, collaborative market research approach, and the development of tailored solutions addressing diverse planning needs.

A comparison chart titled 'EPM Pre-built and Custom Solutions Comparison' showing pros and cons of pre-built solutions and custom solutions from platforms like Anaplan, OneStream, Oracle Fusion Cloud EPM, SAP Analytics Cloud, and Workday Adaptive Planning. Pre-built solutions offer advantages like rapid implementation but have limited customization, while custom solutions offer extensive customization options but require significant investment in time and resources.

Overview of the Pre-built Solutions by Business Function

What distinguishes Anaplan’s pre-built solutions from competing platforms is the adaptability, user-friendly interface, extensive customizability in reporting and comprehensive coverage across various business domains, offering clients a versatile and efficient planning tool.

A table titled 'Overview of the Pre-built Solutions by Business Function Comparison Table' comparing EPM solutions from various providers across four categories: Financial Planning, Sales Performance Management, Supply Chain Planning, and Workforce Planning. The providers compared are Anaplan, OneStream, Oracle Fusion Cloud EPM, SAP Analytics Cloud, and Workday Adaptive Planning.

Unique Advantages and Drawbacks for each EPM Software

Anaplan

Implementation strategy is highlighted by Anaplan’s global professional services and partners, ensuring a thorough approach to implementation with significant industry expertise. Its integrated business planning connects the data from a company’s domains like Finance, HR, Sales, Marketing & Supply Chain & IT solutions.

However, the visibility of available licenses within Anaplan’s product could be improved, potentially complicating license management for larger enterprises.

OneStream

OneStream stands out with managing large data volumes and simultaneous users with fast data transfer and robust backend features like relational blending and data sparsity algorithms.

On the other hand, it offers limited demonstrations of feasibility. Prospective customers seeking this evaluation method may need to define use cases carefully and seek relevant references.

Oracle Fusion Cloud EPM

Oracle is popular for its scenario modeling capabilities, which are integral to forecasting and planning within dynamic business environments.

Despite promoting a simple pricing model, the actual cost can become complicated, potentially adding unforeseen expenses.

SAP Analytics Cloud

The platform is well-integrated with SAP S/4HANA, offering streamlined processes and data management for SAP users.

Although, it has limited third-party connectors, which could restrict integration options for non-SAP environments.

Workday Adaptive Planning

Workday’s implementation strategy benefits from using certified professionals and partners, aiming for consistency and quality in deployment.

But, on the other hand, the platform’s predictive analytics capabilities, while employing AI and ML, may not meet all business requirements, suggesting there is room for improvement in this area.

How Anaplan Stands Out from Other Platforms?

Every EPM software has its own pros and cons, so that organizations can pick the best one for their specific needs. However, Anaplan has aimed for making the best possible services, so let’s explore how it stands out from other platforms.

Implementation Strategy

Anaplan stands out with its global professional services and a network of partners that provide a thorough and industry-specific approach to implementation. This focused strategy might offer a more tailored and effective deployment compared to other platforms which may rely on a broader network of partners or have less emphasis on industry expertise.

Global Professional Network

The emphasis on leveraging a global network for implementation not only ensures a consistent approach but also allows for a wealth of industry insights and best practices to be incorporated into the deployment process. This can be particularly advantageous over platforms that may not have as strong a focus on leveraging global insights or those that might have a more limited professional service offering.

Industry Expertise

The platform’s approach suggests a deep commitment to understanding and catering to industry-specific needs, which can be crucial for businesses looking for solutions that can be closely aligned with their unique challenges and opportunities. Compared to other platforms that might offer more generalized solutions, Anaplan’s focus on industry-specific expertise could provide a competitive edge in achieving more precise and effective planning and forecasting outcomes.

Anaplan Platform Evaluation

There are plenty of benefits for companies to use Anaplan for their end-to-end enterprise performance management needs. However, you should consider the drawbacks that can come when using Anaplan planning software. Nevertheless, Anaplan is one of the most preferred Enterprise performance management solutions. Making an informed decision, based on your organization specific needs is the key to improvement.

Collaboration

Facilitating real-time data sharing, centralized planning, and scenario modeling, Anaplan promotes collaboration among stakeholders.

Advanced Analytical Capabilities

The platform’s predictive analytics and business intelligence features support complex data analysis, helping businesses make more informed decisions based on current and historical data.

Strong Community and Support

Anaplan has a robust community and comprehensive support, which facilitates problem-solving and innovation among its users.

User-Friendliness and Accessibility

Anaplan is often highlighted for its intuitive user interface and accessibility, making it easier for a wider range of business users to adopt and leverage the platform effectively.

Complexity

While providing extended customization, implementing and configuring Anaplan can be complex, demanding specialized skills and expertise.

Cost

The pricing structure of Anaplan may be prohibitive for some organizations, especially smaller businesses, or those with limited budgets.

Choosing the Best EPM Platform – Considerations

When choosing EPM Platform several key factors should be considered, based on the specific need of your business.

Assessing the total cost of ownership, including licensing fees, implementation costs, and ongoing maintenance expenses. Evaluating the platform’s ability to scale with the organization’s growth and evolving needs. Considering the user-friendliness of the platform and the learning curve associated with implementation and adoption. Understanding whether the platform offers features and functionalities tailored to the organization’s industry vertical. Examining the platform’s compatibility with existing systems and its ability to facilitate seamless data integration. Assessing the availability and quality of customer support and ongoing maintenance requirements.

A diagram titled 'Considerations for the Best EPM Platform' showing various factors in hexagonal shapes. The factors listed are Cost, Ease of Use, Scalability, Industry Requirements, Integration, Support, and Maintenance.

FAQs on Anaplan vs. Competing Platforms

Unlock Efficiency and Agility with B EYE’s Anaplan Expertise

In the constantly evolving landscape of strategic planning and performance management, choosing between Anaplan and other competing platforms is a critical decision.

A thorough evaluation of the strengths and weaknesses of each platform, alongside specific vendor insights, ensures that you select the solution best suited to your organization’s needs. B EYE shines in implementing Anaplan solutions, offering expertise and tailored services to help you achieve your strategic business goals.

Get started with B EYE and Anaplan to enhance your strategic planning.

Unlock the full potential of Anaplan for your organization! Call us today at +1 888 564 1235 (+359 2 493 0393 for Europe) or fill in our form below to receive a free consultation and a custom proposal.

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