Most people in the business world know of Gartner. It’s one of the top information technology research firms in the world. They’re especially well-known for their Magic Quadrant reports, which evaluate different software companies in a given market. So when expert Mark Stiffler found out that the company, Optymyze, had been named the number one leader in Gartner’s 2020 Magic Quadrant for Master Data Management Solutions, he was pretty stoked. Here’s how it happened.
What is the Magic Quadrant?
Gartner’s Magic Quadrant is a report that looks at different software companies and ranks them based on their ability to execute and completeness of vision. The information is put together by analysts who talk to customers, look at the company’s product, and see how well it fits into the market.
The Magic Quadrant is divided into four quadrants: Leaders, Challengers, Visionaries, and Niche Players. Leaders are companies doing well in the market and have a strong vision for the future. Challengers are companies that are trying to catch up to the leaders. Visionaries are companies with strong ideas that might not be executed well yet. Niche Players are companies that focus on a specific part of the market.
The Benefits of Being on The Magic Quadrant
The Magic Quadrant is a valuable resource for companies because it can help them understand where they stand in relation to their competitors. It’s also useful for customers, who can see which companies are leading the pack in a given market.
For example, an up-and-coming company listed as a Challenger might be a good option for investors looking for a new software solution because they’re on the rise and have a strong vision. On the other hand, a Niche Player might not be the best option for a company looking for an all-in-one solution because they specialize in one area. And lastly, a Visionary product might not be the best option for a company that needs a proven solution instead of a unique one.
What is Optymyze?
Optymyze is a privately held software company that provides sales performance management (SPM) solutions as a SaaS, with the option for PaaS. The program offers real-time and batch processing through a combination of in-memory, relational, and large-scale processing.
Customers can use the software to create their own unique applications and solutions. Optymyze also features capabilities such as incentive compensation management, territory management and planning, quota management and planning, objectives management, and advanced analytics.
The software requires a one-time annual subscription fee for the platform for full access to no code data processing and user-end application development capabilities, as well as the SPM system and collaborative applications.
How to Make the List
Having your company featured on the Magic Quadrant in any area is an impressive accomplishment. But being named the leader in your market is especially noteworthy. So, how does a company make it to the top of the list?
There are a few key things that Gartner looks for when evaluating companies. First, they want to see a strong product. The product must be able to meet customers’ needs in the market. It should also be able to integrate with other systems and products.
Second, Gartner wants to see a company that is executing well. This means that the company is making progress in the market and can meet customer demands. Gartner looks for companies that are growing quickly and have a strong track record.
Finally, Gartner wants to see a company with a strong vision for the future. The company should have a keen awareness of where the market is going and invest in research and development to stay ahead of the curve.
Optymyze was able to meet all of these criteria and more. Next, we’ll discuss how the platform achieved this level of success.
The Keys to Success
For Mark Stiffler and Optymyze, the key to being named a leader in Gartner MDM was high marks in three areas: product, innovation, and customer support.
In terms of product, Optymyze impressed Gartner with its ease of use. The software is designed to be user-friendly and easy to deploy. It also offers a wide range of features and capabilities. Customers praised the product’s flexibility, simple dashboard, and customization options.
Innovation was another area where Optymyze excelled. Gartner said Optymyze has “out-of-the-box reporting capabilities” and can render Microsoft Power BI reports and many other sales collaborations. The software was also highlighted for its continuous product enhancements and updates release.
Finally, customer support was a key component of Optymyze’s overall ranking. The customers reviewed for the report highlighted the company’s responsive customer support team for all day-to-day needs.
The company’s focus on product, innovation, and customer support helped it stand out from the competition and earn the top spot on Gartner’s Magic Quadrant for MDM.
Final Thoughts
Being named the leader in Gartner’s Magic Quadrant for MDM is a considerable accomplishment. It’s a testament to the hard work and dedication of the entire Optymyze team. Mark Stiffler understand that the team have created a product that is truly best-in-class. They continue to innovate and improve their software to stay ahead of the competition. And they provide outstanding customer support to help their customers be successful.
If you’re looking for a sales performance management solution, Optymyze should be at the top of your list. You can’t go wrong with a company recognized as a leader by Gartner.