Large enterprises have unique needs when it comes to evaluating corporate performance management (CPM) solutions. Given their size and complexity, they typically require more advanced functionality, stronger data security, higher scalability in terms of data volumes and users, and consistent performance during peak usage periods. With these requirements, there are very few CPM solutions that can meet the needs of sophisticated global companies and provide a high probability of success.
OneStream: Industrial-Strength CPM
Meeting these more advanced requirements, and delivering 100% customer success, is the mission of OneStream Software. The company was founded with a focus on providing an industrial-strength CPM platform designed to meet the rigorous requirements of the world’s largest, global enterprises. Having amassed a customer base of over 300 organizations, 75% of which converted from multiple legacy applications such as Oracle Hyperion, SAP and IBM – OneStream has already demonstrated success in achieving our mission.
But there’s more work to do – and that was the focus of the latest release of the OneStream Intelligent Finance Platform. OneStream 5.0 is a major release of our platform that raises the bar on scalability and performance for large deployments, includes enhanced reporting and analytics, and provides local language capabilities to support global deployments. Let’s take a closer look at each of these areas and the value it provides for customers.
Higher Scalability and Improved Performance
OneStream 5.0 is focused on boosting performance to help larger enterprises complete complex financial consolidation, reporting and planning tasks and processes faster. And while the work that was completed in 5.0 raises the bar on performance, it also lays the groundwork for our “X-Scale” initiative that will enable companies to take advantage of the infinite potential of the cloud. The vision is to allow the platform to intelligently scale up and down cloud capacity to match peaks and valleys in user demand during crunch periods such as quarter-end close or budgeting season.
This new release of our platform leverages a broad set of environmental and process sensors that constantly collect data about how the system is performing and consuming resources. By leveraging this data, “intelligent bots” perform smart load balancing to route tasks to servers with available capacity based on live system data. The intelligent bots are able to prioritize large tasks, such as consolidation, and assign them to a dedicated server that keeps other resources free and available for other important tasks. This boosts overall performance and maximizes productivity – both in the cloud and for on-premise deployments of OneStream.
Here’s what some of our customers and partners had to say about the scalability and performance improvements in OneStream 5.0:
“We are always looking for ways to drive faster performance during peak usage periods. The new environmental monitoring and smart load balancing in OneStream will drive faster completion of key tasks and will help us maintain or shorten our close and reporting cycles.” Brian Bayne, Director of Financial Systems, Federal Mogul.
“The smart load balancing in OneStream, driven by intelligent bots, will optimize the use of server resources in our customers’ on-premise data centers, or in the OneStream Cloud. This will provide performance gains for customers with larger user populations, or complex applications and help them shorten reporting and planning cycles.” Phillip Parker, Managing Director, Holland Parker
Enhanced Reporting and Analysis
With increasing user demand for faster and better decision insights, OneStream 5.0 delivers several features designed to support faster, more informed decision-making.
New conditional formatting capabilities makes it easier to apply formatting (such as bold or color-coding) to rows and columns in Cube Views, and subsequently reports, dashboards and Excel Quick Views based on specified filters or criteria-based thresholds. This release also includes improved ad hoc reporting and analysis capabilities via Excel Quick Views.
Here’s what some of our customers and partners had to say about these new features:
“We are always encouraging our users on utilizing OneStream’s Excel Quick Views more for many of their reporting and analysis needs. The improved ad hoc analysis features in OneStream 5.0 will make it easier to generate ad hoc reports by just typing in dimension and members names and pulling data directly from the OneStream application.” Brian Bayne, Director of Financial Systems, Federal Mogul
We are excited by the new presentation and reporting features in OneStream which continue to expand the reporting ‘toolbox’ available to implementers and customers. These new features provide even more options for clients to pick from when choosing how best to display and report on their data. Given the different types of data that clients are reporting on, it’s only fitting that they have multiple ways to present it.” Jay Hampton, Managing Partner, Finit
Local Language Capabilities
Local language support has become a priority as the number of OneStream users expands and as multinational companies seek to bring finance and operational users from across the enterprise onto a single CPM platform. To meet this demand, OneStream 5.0 includes new local language capabilities to accommodate global deployments. A new reporting alias feature enables the display of account names, entity names, and other reporting elements in multiple languages based on user preference.
Here’s what one of our customers had to say about this new capability:
“The global footprint of our company often presents challenges in other systems with language support, as a large portion of our user base is outside of the U.S. The new personalization feature in OneStream 5.0 will allow our team in all regions to report in local languages. This will be a significant advantage to our global community and provide a huge win in adoption of the platform across the globe.” Brad Sheppard, IT Director, Guardian Industries.
These are exciting times for OneStream, as well as our customers and partners around the world. Having achieved record growth in 2018, and with the recent investment in OneStream by KKR, the release of OneStream 5.0 will enable us to continue expanding our global footprint and solve more complex problems for the world’s largest enterprises. To learn more about OneStream 5.0 and what’s planned for the future, join us at OneStream Splash 2019 in New Orleans or register for an upcoming event in your region.