According to Gartner1, "Seven out of 10 boards of directors responded to the COVID-19 crisis by accelerating digital business initiatives." Commentary from recently released 2021 Gartner Magic Quadrant for Master Data Management (MDM) Solutions1 supports this fact, concluding that "The MDM market continues to evolve and thrive as organizations seek to benefit from the business agility afforded by mastering their most critical data, particularly in times of change." You might be interested in reading the full report, of course. More on that later in this blog, or click here if you can't wait.
What is true is that customers who represent the other 30% of companies who have not responded to the COVID-19 crisis, are significantly more at risk. Gartner highlights this in its Strategic Planning Assumption for the MDM Magic Quadrant:
"By 2023, organizations with shared ontology, semantics, governance and stewardship processes to enable interenterprise data sharing will outperform those that don't."
Perhaps they lack the insight that trusted 3rd parties, such as Gartner, provide or even lack the technology to turn the benefits of a good digital transformation strategy into a reality? Fortunately, our customers reflect the bigger trend as any successful digital transformation initiative will require the structured data that our cloud-native multidomain MDM solution provides.
Recognition as a Challenger in the Gartner Magic Quadrant for MDM solutions
Given the results our clients are achieving and the growth we have experienced over the last year, flying in the face of the COVID pandemic, you may not be surprised to hear that Stibo Systems has been positioned as a Challenger in the latest Gartner Magic Quadrant for Master Data Management Solutions.
Clearly, we’d love to share that success with new customers or existing customers who have not moved to multidomain. First stop, as we all know, is getting the insight required to make a decision. With that in mind, we thought you might welcome the chance to read the recently released Magic Quadrant for Master Data Management Solutions from Gartner, on us.
In our view, this recognition is proof that our strategy to become the multidomain MDM provider, as well as one of the expert PIM vendors, is succeeding. Importantly, this success is manifested in the results and achievements of our customers, especially during the COVID pandemic. New customers are increasingly choosing our multidomain solutions, whilst more than 85 percent also select our SaaS offering as they seek to drive important business outcomes. This includes accelerating digital transformation and improving customer experience. This upward trend of moving MDM to the cloud is reflected in a similar transition for existing customers, many of whom are building upon single domain contracts with additional data domains based in the cloud.
View a complimentary copy of the full report, available from the Stibo Systems website at www.stibosystems.com/gartner-magic-quadrant-in-mdm
1. Gartner, “9 Agility Hacks to Accelerate Digital Business,” [Mary Mesaglio, Elise Olding, Kristin Moyer], 9 December 2020
2. Gartner, “Magic Quadrant for Master Data Management Solutions,” [Simon Walker, Sally Parker, Malcolm Hawker, Divya Radhakrishnan and Alan Dayley], 27th January 2021.
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.