OneStream: the modern, unified and independent platform for Corporate Performance Management
Damien Wiegman | May, 2019 | 7 minutes reading time
CPMview is an official partner of OneStream since the spring of 2019. With this partnership CPMview has expanded its corporate performance management (CPM) solutions portfolio, offering its customers more options and possibilities for a suitable solution and technological platform. The OneStream partnership means we have acquired a leading ‘best-of-breed’ solution for the CPM market and the Office of Finance.
Where does OneStream come from?
Founded in 2010, OneStream is based in Rochester, Michigan in the United States. The leading people behind OneStream were also the developers of Oracle Hyperion Financial Management (HFM) and Hyperion Financial Data Quality Management (FDM). With OneStream they wanted to improve on their former solutions. OneStream follows a path that we have seen in the past where new solutions are developed out of dissatisfaction with the existing models. Outlooksoft (now known as SAP BPC), was also an example of such a product, developed in the late 90s by former Hyperion employees.
The founders of OneStream wanted to realise and improve a number of things compared to mainstream CPM solutions in the market, with the main objective being to simplify CPM processes and achieve 100% customer satisfaction.
Creating a unified platform for CPM solutions
OneStream offers a modern and unified SmartCPM™ platform for Financial Consolidation, Reporting, Planning, Analytics and Data Quality. It is no longer necessary to connect different applications (point solutions) together to connect, plan, consolidate and report data. This reduces complexity and guarantees better data quality.
A platform that makes it possible to constantly develop and offer new solutions
The OneStream SmartCPM platform has its own MarketPlace. This can be compared to the App Store (MarketPlace) on your iPhone (Platform). As a OneStream user you can continuously download new solutions into the OneStream platform such as Account Reconciliations and specialty planning solutions for HR (people planning), Sales, Capital and Cash Planning. But also workflow solutions, to keep a better grip on the completion, like a Task and Close Manager. More recently, solutions have been developed to meet the requirements of IFRS 16 and advanced dashboard capabilities.
In general, all these XF MarketPlace solutions are free to download for OneStream customers. Depending on the existing layout, the extensions can be integrated into the platform within a few days. OneStream promises more value for your investment without technological complexity to achieve this.
A platform that can easily integrate directly with any open G/L or ERP data source
OneStream has one of the most advanced solutions in the market for the process of data integration and validating data quality. For example, OneStream can integrate directly with Oracle, SAP, Microsoft AX/Dynamics, PeopleSoft, JDE and Infor and it has pre-built integration connectors with drill back and drill through capabilities. Everything is workflow driven with clear audit trails.
1 standard user interface for all solutions
By offering multiple solutions within one platform, adopting those different solutions becomes much easier. You only have to learn once how the user interface works and where the buttons are placed. This simplifies the use and adoption of the solutions.
Cloud or on-premise with the emphasis on lower cost of ownership
OneStream can be offered in an on-premise scenario, hosted scenario or cloud scenario on a Microsoft Azure environment. It therefore offers complete flexibility depending on the wishes of your IT organisation with associated licensing scenarios.
Furthermore, OneStream promises that an upgrade of its platform will take a maximum of a few hours. OneStream distances itself from expensive and time-consuming migration processes that last weeks or months compared to the more traditional CPM vendors.
100% customer satisfaction
OneStream strives for 100% customer satisfaction and sets strict requirements for its employees and partners to achieve this. Every customer is a OneStream sponsor.
Figure 1. OneStream SmartCPM platform overview
Where is OneStream headed?
In recent years, OneStream has experienced steady growth, with the focus initially on quality and 100% customer satisfaction. OneStream achieved the necessary exposure, in particular in the US, UK, Scandinavia and BeNeLux markets. The focus was mainly on replacing Oracle and Hyperion applications.
The expectation is that OneStream will grow significantly in the coming years. In addition to Oracle, OneStream has also placed its pillars on replacing the CPM solutions from SAP and IBM. For example, it has developed solutions to integrate seamlessly with SAP ECC, SAP S/4 HANA and SAP BW. With this, OneStream will increasingly position itself as a leader in the market for CPM solutions in the coming years. Something that recent research already appears to confirm:
Recent research by Nucleus Research from February 2019 describes OneStream Software as a leader in the CPM market due to its broad functionality of CPM solutions.
Figure 2: CPM Value Matrix – NUCLUES RESEARCH
- BARC The Planning Survey gives OneStream the highest score in 30 categories.
- Gartner recognizes OneStream a visionary in its Magic Quadrant reports fro Cloud Financial Close Cloud Financial Planning & Analysis solutions.
OneStream and CPMview: “a happy marriage”.
The professionals at CPMview have extensive experience and expertise in corporate performance management processes and CPM tooling such as SAP and BOARD. As CPM experts, we have great faith in the functionalities and constant innovations of the OneStream Platform. We also believe in the vision of the people behind the OneStream organisation.
OneStream offers one of the most comprehensive independent CPM platforms in the market and is able to integrate with source systems from different suppliers in different life phases. This makes OneStream, with its modern and unified CPM platform, the solution for organisations with a diffuse and complex application landscape that are looking to integrate (master) data, processes and reporting.
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