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OneStream
What Is OneStream?
OneStream is an enterprise finance management platform. It covers financial planning and analysis as well as financial close and consolidation. The system uses artificial intelligence and machine learning to improve decision-making and productivity.
OneStream provides integrated financial intelligence for accounts, currencies, ownership, and intercompany activities. It features enterprise-grade security and data privacy. It adheres to industry-standard protocols.
Who Uses OneStream?
Designed to help upper mid-market to large enterprises with the consolidation of financial planning and reporting processes.
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Reviews of OneStream
One Version of the Truth...
Comments: It's been a great experience with a great product.
Pros:
Instead of having to cobble together data from multiple systems with different dimensionality and have to reconcile - I can perform all my Finance functions under the OneStream solution. This saves me tons of time with data syncronization, reconciliation, and dual maintenance. It's a huge time saver.
Cons:
It's very Microsoft platform centric, so you have to be comfortable with that technology baseline. If you want to go cloud - you're going on Azure.
Alternatives Considered:
OneStream software - Conversion From Hyperion HFM/FDM/Planning
Comments: We were forced to make a platform decision by ORACLE, timing was not good from an operational standpoint. We are 6 months in to an 11 month project to go live replacing our Hyperion environment.We are extremely pleased so far with the quality of the product, the quality and speed of support and relatively low overhead to support. All projects this size have pain involved with change management, but thankfully, the software we chose is helping ease that pain, not enhance it.
Pros:
-Ease and simplicity of software architecture implementation and design -One Product for multiple purposes. -Long term expansion capability on one platform -Win10 app access -There is no comparison with the amount of time, effort and money it took to support and maintain the Hyperion environment. Install took less than 2 hrs. Comparable Hyperion install took weeks to get working
Cons:
- Dashboarding can be simplified a bit - powerful, but a bit cumbersome to get started and understand
OneStream XF
Comments: We are utilizing OneStream for its consolidation functionality. We are also working to implement the people planning solution.
Pros:
The ability to have a unified system. OneStream's ability to keep multiple solutions on one platform.
Cons:
The amount of clicks to configure a lot of items.
Onestream co worker
Pros:
Good help by AI for finance very helpful to manage big load of information
Cons:
No big trouble could be a bit laggy sometimes
Alternatives Considered:
The next generation of CPM software
Comments: Primarily driving consistency and accuracy across the company on financial reporting, budgeting and forecasting and eliminating all the shortfalls of maintaining those processes in MS Excel. Future vision to implement Account Reconciliations, People Planning, Capital Planning, Sales Planning and Task Manager.
Pros:
The software really is simple to use, user adoption is very fast and for one price you get for multiple products (consolidations, planning/forecasting, account recs, capital planning, etc...)
Cons:
I have not found anything currently that I do not like about the software.
