Enterprises use EPM computer software to monitor overall performance across their business enterprise, ingesting and analyzing information from myriad sources spanning information warehouses, ecommerce systems, CRM and ERP tools, alongside external channels. The worldwide EPM industry was pegged at $7.3 billion in 2018, according to some estimates, a figure that is projected to develop to almost $12 billion by 2023.
The Excel aspect
Despite disdain for Excel across several industries, and the numerous startups that have set out to kill Microsoft’s omnipresent spreadsheet computer software, some 80% of organizations nonetheless use Excel for preparing, according to Jedox. Rather than attempting to fight that, Jedox is in search of to complement it, supplying access to the Jedox platform by means of an Excel add-in. The aim is to support “eliminate spreadsheet chaos without losing the advantages of Excel.”
For instance, a organization might sustain numerous regional spreadsheets across business enterprise preparing, evaluation, and forecasting. Jedox can convert these to a single unified entity that is connected to an in-memory database to execute “what-if” evaluation, versioning, and more. The platform can ingest further information from different departments, such as sales and advertising and marketing or HR, to build “one unified connected model, representing the whole value chain of a company,” Jedox CEO Florian Winterstein told VentureBeat. The more information that is fed in from diverse sources, the far better a organization can establish the effect of business enterprise scenarios across divisions by leveraging AI and sophisticated analytics.
Besides the different EPM items provided by significant technologies businesses such as Oracle, SAP, and IBM, there has been sizable activity elsewhere in the EPM space of late, with Workday snapping up Adaptive Insights in a $1.6 billion deal in 2018, shortly prior to private equity firm Vector Capital acquired Host Analytics (now Planful). Elsewhere, Anaplan went public in 2018, and its shares are presently sitting at an all-time higher, more than 4 occasions their IPO cost.
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According to Winterstein, Jedox holds a quantity of benefits more than some of its rivals in the space, such as obtaining a “clear business focus on EPM,” rather than supplying numerous enterprise services. Moreover, he mentioned Jedox provides a single “best-of-breed unified stack,” rather of a collection of acquired items.
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Founded out of Freiburg, Germany in 2002, Jedox had previously raised about $40 million. With a further $one hundred million-plus in the bank from further investors — such as Iris Capital, Ecapital, and Wecken & Cie — the organization mentioned it is effectively-financed to develop each its worldwide footprint and client base. This incorporates McDonald’s, Microsoft, Fiat, HSBC, Fujitsu, and Mercedes Benz. The organization is also gearing up to launch “vertical-specific solutions.”