A small set of giant firms dominates the business software industry and represents massive spend for enterprises. They preach a credo of unified data models and integrated end-to-end processes supported by a broad portfolio. But they all have a different focus, investments, and leadership — and different stages of maturity and momentum. This report helps leaders understand the current performance, risks, rewards, and direction of these software giants as they consider what role they should (or shouldn’t) play in their technology strategy.