OneStream Splash Madrid
As of May 2019, CPMview is a recognized partner of OneStream and we were happy to join the EMEA Splash in Madrid. Many customers, prospects and partners attended the three-day event and it reflected the increasing presence of OneStream in the EMEA market. During the inspiring keynote, Tom Shea (CEO) previewed some of the upcoming enhancements and functionalities, such as Artifical Intelligence, Machine Learning and advanced Business Intelligence, which will help finance professionals to optimize their financial processes and become more efficient. We would like to share those latest developments with you in this blog.
Advanced Business Intelligence
In the upcoming release of OneStream XF 5.2, advanced BI functionalities will become available. During the keynote, Tom Shea showed how easy and intuitive it will be for users to create their own dashboards which are fully interactive. It allows finance professionals to combine tables, charts, graphs and other visualizations and drill down the data, all the way to transactional data if needed, to better understand the business trends.
Machine Learning and Predictive Analytics
OneStream’s strategy is to integrate machine learning in two elements of their platform. Firstly, they want to use it for autonomously scaling the platform by means of the X-scale architecture. In the upcoming release this architecture enables smart load balancing and enhancing the performance of the platform based on all server information that is collected and reviewed. Subsequent releases will allow for automatically scaling server resources up and down, depending upon the needs of the business. For example, during the period end close or during budget season, you can automatically benefit from the full potential of the cloud and scale back resources when you do not need them. This will optimze the performance and the costs.
Secondly, OneStream wants to integrate advanced analytics into key business processes. Their vision is that predictive analytics and/or machine learning can help to create a non-biased scenario in planning, budgeting and forecasting. Currently, a solution is available in the Marketplace XF which facilitates predictive forecasting, but a more complete Machine Learning platform and enhanced solution will become available later this year.
OneStream’s Unified SmartCPM platform
Besides presentations about the latest product innovations, also many clients presented their success stories. From their presentations, it became clear that a great added value comes from the XF Marketplace. Most companies start using OneStream for consolidation and budgeting and forecasting. Once these processes are fully implemented, they start extending the value of the platform by adding additional solutions like account reconciliation, cash planning and people planning. Some of the advantages of the Marketplace that the customers mentioned are:
- New solutions can be implemented relatively fast and easy;
- The XF Marketplace keeps evolving and new solutions are added regularly;
- No need to set-up integrations, since all solutions use the same platform;
- Only limited training is required, since users are already familiar with the platform;
- Less costly than purchasing separate CPM solutions.
OneStream commits to delivering 100% customer success. During the Splash event we experienced that first hand, with the inspiring keynote, many product innovations, customer success stories and hands-on workshops. OneStream, thank you for having us and we will see you next year.