Ramco Systems positioned in 2018 Gartner Magic Quadrant
Chennai, India – June 19, 2018 – Ramco Systems, a global enterprise software company focusing on enterprise cloud platforms, products and services, today announced that it has been positioned by Gartner, Inc. as a Niche Player in its 2018 Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises.
Gartner defines core Financial Management Suites (FMS)as applications addressing core functional areas of general ledger (GL),accounts payable (AP), accounts receivable (AR), fixed assets (FA), and projectaccounting, project costing and project billing. Vendors are assessed ontheir suites and their ability to market, sell and support these solutions.
For the second year in a row, Ramco is the only AsiaPacific-headquartered cloud financial applications vendor to return to theMagic Quadrant. Ramco has been classified as a ‘Niche Player’ in thereport, for its functionality across all areas of financial management, anestablished presence in its native region, and its support in enablingon-premises customers’ transition to cloud platforms. Reference customersscored Ramco Financials functionality above average in most areas, includingdeployment capabilities and ease of use. Ramco Finance application addresses avariety of industries with Manufacturing and Services-centric organizationsbeing the largest segments.
Acknowledging Ramco ERP Financials second magicquadrant entry, Virender Aggarwal, CEO, Ramco Systems, said,“Businesses are moving towards an API economy where systems interact andseamlessly integrate with the ecosystem around to offer a complete experience.We at Ramco have built a ‘new generation’ F&A solution that brings the bestof functionality with the advantages of Cloud, Mobile and Bots in it.”
“We believe our second entry into the Gartner MagicQuadrant is a testament to our focused efforts on delivering next-gen,self-running financials, helping companies boost their bottom-line. Movingforward, we will continue to invest in new technologies such as dimensions,API, chatbots and Google Assistant and Alexa based voice assistants, aidingorganizations embrace the frictionless era. The future holds immense potentialfor fast-moving and adaptable enterprise vendors to ride the wave” added Aggarwal.
Gartner has predicted that by 2020, nearly 60% oflarge enterprises with systems up for replacement will switch from traditionalon-premises licenses to software-as-a-service (SaaS) or subscription licences.And, they expect that by 2025, demand for financial management applicationdeployments delivered as cloud services will equate to over 65% of totalspending in the financials market.
Offered both on cloud as well as on premises, RamcoFinance & Accounting (F&A) caters to medium- to large-sizedorganisations both as an integrated solution under full-suite ERP, as well as astand-alone application. Ramco distinguishes itself by focusing on buildingdeep domain-integrated financials and offering next-gen features which bringautomation, simplification and cognitive capabilities to the application.
Read the complete Gartner report in detail, here – https://goo.gl/aWNfGk