Attributes 461 percent revenue growth to accelerated cloud adoption and legacy product migrations, plus global corporate expansion
November 15, 2018 05:45 AM Eastern Standard Time
ROCHESTER, Mich.–(BUSINESS WIRE)–OneStream Software, LLC, a leader in corporate performance management (CPM) solutions for the mid-sized to large enterprise, today announced it ranked 212th on Deloitte’s Technology Fast 500™, a ranking of the 500 fastest growing technology, media, telecommunications, life sciences and energy tech companies in North America. OneStream grew 461 percent during this period.
“This year’s ranking demonstrates what is likely a national phenomenon, where many companies from all parts of America are transforming the way we do business by combining breakthrough research and development, entrepreneurship and rapid growth.”
OneStream Software’s president and chief executive officer, Tom Shea credits the company’s 461 percent revenue growth over the past 3 years to growth in cloud adoption and migrations from legacy CPM products such as Oracle Hyperion, SAP BPC and IBM Cognos combined with OneStream’s global expansion. He said, “Our strategy to deliver enterprise-class solutions that modernize finance and enable organizations to ‘get back to business’ is driving our rapid growth and helping us to expand into new markets. Future growth will be fueled by the continued adoption of OneStream XF Cloud, which can unleash thousands of global enterprises from legacy products, simplify complex processes, and deliver rapid insights in finance and beyond.”
“Congratulations to the Deloitte 2018 Technology Fast 500 winners on this impressive achievement,” said Sandra Shirai, vice chairman, Deloitte LLP, and U.S. technology, media and telecommunications leader. “These companies are innovators who have converted their disruptive ideas into products, services and experiences that can captivate new customers and drive remarkable growth.”
“Software, which accounts for nearly two of every three companies on the list, continues to produce some of the most exciting technologies of the 21st century, including innovations in artificial intelligence, predictive analytics and robotics,” said Mohana Dissanayake, partner, Deloitte & Touche LLP, and Industry Leader for technology, media and telecommunications, within Deloitte’s audit and assurance practice. “This year’s ranking demonstrates what is likely a national phenomenon, where many companies from all parts of America are transforming the way we do business by combining breakthrough research and development, entrepreneurship and rapid growth.”
Overall, 2018 Technology Fast 500™ companies achieved revenue growth ranging from 143 percent to 77,260 percent from 2014 to 2017, with median growth of 412 percent.
About Deloitte’s 2018 Technology Fast 500™
Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies — both public and private — in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2014 to 2017.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.
About OneStream Software
OneStream Software provides a modern corporate performance management (CPM) solution that unifies and simplifies financial consolidation, planning, reporting, analytics and financial data quality for sophisticated organizations. Deployed in the cloud or on-premise, OneStream XF is one of the first and only solutions that delivers corporate standards and controls, with the flexibility for business units to report and plan at additional levels of detail without impacting corporate standards – all through a single application.
The OneStream XF MarketPlace features downloadable solutions that allow customers to easily extend the value of their CPM platform to quickly meet the changing needs of finance and operations.
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