Timm Grosser, BARC Senior Analyst, discusses BARC’s recent webinar ‘Portals to Enterprise Data Knowledge – 6 Data Catalog Products in Direct Comparison’ in which data catalog providers Alation, Collibra, Informatica, Synabi, dataspot and Zeenea went head to head.
Timm Grosser, BARC Senior Analyst, discusses BARC’s recent webinar ‘Portals to Enterprise Data Knowledge – 6 Data Catalog Products in Direct Comparison’ in which data catalog products Synabi, dataspot and Zeenea went head to head
Timm Grosser, BARC Senior Analyst, discusses BARC’s recent webinar ‘Portals to Enterprise Data Knowledge – 6 Data Catalog Products in Direct Comparison’
Prophix today announced its acquisition of Sigma Conso, a Belgian-based CPM software and service provider, from Fortino Capital Partners
Authors: Dr. Christian Fuchs and Larissa Baier
Published: 27 October 2021
Today, Prophix, the Canadian CPM software vendor announced it will be acquiring Sigma Conso, the Belgian financial performance management (FPM) specialist. Prophix itself was acquired by Hg, one of the largest specialist tech investors in Europe in January 2021, valuing the company at around $500-$600m. Hg is now accelerating and scaling Prophix’s growth through the acquisition of Sigma Conso, which itself only received a growth investment from Fortino Capital Partners in June 2020. This is the first instance of inorganic growth in Prophix’s corporate history.
From a use case perspective, Prophix and Sigma Conso’s offerings fit together nicely. Whereas Prophix is strongly focused on CPM use cases such as planning, budgeting and forecasting, reporting and analysis, Sigma Conso has its strengths in FPM, offering software for financial consolidation and close, management reporting, intercompany reconciliation as well as specialty solutions for IFRS 16 and iXBRL. Sigma Conso is a cloud-native product that matches Prophix’s future cloud strategy.
The acquisition adds 70 employees and 600 customers to Prophix’s workforce and customer base. With its headquarters in Brussels, Belgium, and local offices in Europe and Asia, Sigma Conso has customers in 20 countries. Its main presence, however, is currently across Europe with the majority of customers in the Benelux region and France, but also in Italy, Spain and other countries.
With the addition of Sigma Conso’s technology and resources, Prophix strengthens its capabilities for consolidation and close, while also extending its global reach with key geographic access to sell Prophix into Europe and Asia. Moreover, Sigma Conso’s solutions could be a valuable addition for Prophix’s existing customer base of over 1,600 active customers of all company sizes and industries in more than 100 countries, mainly in North America. Sigma Conso’s existing customers may also find Prophix to be a valuable extension for CPM, which until now has been addressed with a partner product (Unit4 FP&A).
Overall, we believe the acquisition makes sense and creates various market opportunities for Prophix (new regions, new use cases, etc.), but also potential benefits for Sigma Conso’s customers. By broadening its portfolio, Prophix is closing the gap on competitors such as Board, Jedox, Unit4 and Workday, who also offer integrated financial consolidation and close solutions in their CPM portfolios.
BARC will continue to observe with interest Sigma Conso’s integration into Prophix. At first glance, the two company cultures, company sizes and technological approaches seem to fit very well together for further expansion.
Timm Grosser, BARC’s Senior Analyst for Data Management, offers some takeaways from his recent briefing with Talend, creators of the Data Fabric platform.
Timm Grosser, BARC’s Senior Analyst for Data Management, looks at Zeenea, the young and growing French data catalog software provider.
An overview of data catalogs by BARC Analyst Timm Grosser, including tips on how to select the right data cataloging solution for your organization.
Data is essential for companies to keep up with the digital age. Everyone knows that by now. But it’s not so easy to extract the desired value from data and shine with innovative, data-driven business applications. Instead, we often see data chaos that has been growing for years in the form of fragmented data landscapes and distributed expert knowledge.
A hotly discussed technological approach to make knowledge of distributed data available is the data catalog, the “Yellow Pages” for business-relevant data. It stores information about data in the form of metadata and structures, and makes it searchable.
A data catalog tool achieves its usefulness primarily through three essential points:
- covering information needs quickly and easily
- capturing and curating metadata (knowledge) as efficiently (automated) as possible
- providing a platform for the exchange of knowledge for “all”
In addition, functions for data governance and/or data access are valuable.
Finding the right tool can be more complicated than you might expect. The market for data catalogs is anything but transparent. As with other trending areas, the range of products is exploding and we are now aware of more than 90 solutions with data cataloging functions operating worldwide. But not all data cataloging is the same. These offerings vary in focus, content, features and supported use cases. The following table provides an overview of the basic tool types for data cataloging. Basically, there are options for specific use cases (as part of a BI or analytics user tool, as part of an environment) and offerings that provide a comprehensive, independent solution (specialists, as part of a data governance (DG)/data management (DM) platform).
Pay particular attention to interfaces and transparent, open metadata models for metadata exchange with other catalogs and systems when selecting a data catalog. This offers you a number of advantages:
– You avoid vendor lock-in and can use the tool’s capabilities in a targeted manner
– You can more easily transfer catalogs from different areas or environments to a parent catalog
– It allows easier migration or integration with more powerful tools or tools with a different focus
|Catalog scenario||Characteristics||Tool examples|
|…homemade||Rudimentary catalog functions||Excel, Confluence, Wiki, …|
|…as part of a BI/analytics tool||Catalog functions related to the data/artifacts in the environment||Alteryx, Qlik, Tableau, …|
|…as part of an environment||Catalog functions related to technical data/artifacts in the environment||Amazon, Cloudera, Google, …|
|…as specialist||Comprehensive catalog functions related to data and partly artifacts from different tools/environments, added functionality such as data governance||Alation, Waterline, Zeenea, …|
|…as part of a data governance/DM platform||Comprehensive catalog functions related to data and partly artifacts from different tools/environments. Additional functionality from the portfolio (e.g., workflows, data quality, etc.)||Collibra, Infogix, Informatica, SAP, …|
Table 1: Data Cataloging tool types
When selecting a data catalog, its functions should be carefully checked. A checklist should normally include:
– Adapters and functions for metadata integration and exchange
– Supported content (e.g., supported metadata types, openness and extensibility of the metadata model)
– Functions and machine support for the maintenance (curation) of metadata
– Functions and machine support for catalog use and search/navigation/analysis of metadata
– Ease of use
– Support for collaboration
– Further data management functions (e.g., for data governance, data preparation, data quality and data protection)
We are also happy to support you directly – with our best practice experience, established process models and numerous templates – through the entire selection process from requirements gathering to the creation of a shortlist, proof of concept support and deciding which tool to use. This gives you greater decision security, saves you time and resources and provides you with a partner who can help to create a data cataloging roadmap which is both transparent and acceptable to management and relevant stakeholders.
Timm Grosser, BARC’s Senior Analyst for Data Management, shares his thoughts on the open source database vendor, MariaDB Corporation.
Impressions of Silwood Technology’s Safyr product – metadata middleware for packaged application software like SAP – by Timm Grosser, Senior Analyst at BARC.
Insights from BARC’s briefing with Dremio “The Data Lake Engine” by Timm Grosser, Senior Analyst – Data Management at BARC