Ramco Systems named a Niche Vendor in Gartner Magic Quadrant for Cloud Core Financial Management Suites
Positioned as Niche Vendor based on Completeness of Vision and Ability to Execute Becomes the only Asia Pacific-based vendor to make it into the quadrant Ramco Systems, a global enterprise software company focusing on enterprise cloud platform, products and services, today announced that Gartner, Inc. has positioned Ramco in the ‘Niche Quadrant’ of Gartner’s maiden 2017 Magic Quadrant for Cloud Core Financial Management Suites for Midsize, Large and Global Enterprises. Ramco is the only Asia Pacific-based cloud financial applications vendor to make it to the Magic Quadrant for Cloud Financials. Gartner defines core Financial Management Suites) as application addressing core functional areas of general ledger (GL), accounts payable (AP), accounts receivable (AR), fixed assets (FA), and project accounting, project costing and project billing. Gartner predicts that by 2018, at least 25% of new core FMS deployments in large enterprises will be public cloud. By 2020, more than half of large enterprises with systems up for replacement will switch from traditional on-premises licenses to SaaS or subscription licenses. Speaking on the market opportunity, Virender Aggarwal, CEO, Ramco Systems, said, “The ERP market has witnessed massive disruptions thanks to the entry of Cloud technology. A market which was hitherto held by the giants is now getting challenged by nimble-footed Cloud vendors. Ramco’s entry into the Magic Quadrant is a testament that persistent focus and effort to build Innovative and simplified experience will yield results.” Offered both on Cloud as well as on premises, Ramco Finance & Accounting is being leveraged by several medium to large-sized organizations both as an integrated solution part of a full suite ERP as well as stand-alone application. Ramco distinguishes itself by focusing on building deep domain-integrated financials and offering next-gen features which bring automation, simplification and cognitive capabilities to the application. “Ramco has been investing in robotic process automation, chatbots, blockchain, haptic design and features such as Pivots and Dimensions which aid clients in managing financial operations intelligently. Our commitment to expanding and enhancing our Cloud Financial offering has helped organisations around the world improve their bottom line through effective resource management,” added Aggarwal. Ramco’s focus on innovations in usability, context-awareness, mobility, overall flexibility, apart from comprehensive set of functionality has enabled smooth transition possible for customers.