Fast-growing ‘Tech Unicorn’ recognized for contributing to Detroit-area economy
June 27, 2019 06:11 AM Eastern Daylight Time
ROCHESTER, Mich.–(BUSINESS WIRE)–OneStream Software, a leader in Corporate Performance Management (CPM) solutions for the mid-sized to very large enterprises, has been recognized with a Michigan Economic Bright Spot award from Corp! Magazine.
“As Michigan continues to diversify its economy, technology is a critical industry for future growth. OneStream Software is leading the charge along with other Michigan tech companies to broaden economic opportunity, attract new talent, and establish Michigan as a strong and viable technology hub,” said Sue Voyles, publisher and executive editor at Corp! Magazine.
Michigan’s Economic Bright Spots Awards celebrate companies that demonstrate economic growth and expansion, while creating opportunities for Michigan’s best talent. Recipients are recognized for exemplifying the best in innovation and entrepreneurial spirit.
High Tech Unicorn
Following an investment from KKR in February, OneStream has emerged as a high tech unicorn with a valuation of more than $1 billion. The company continues to grow rapidly, named to Deloitte’s 2018 Technology Fast 500™ list based on 461% revenue growth over a three-year period. In Michigan, OneStream has both expanded its corporate headquarters and opened a second facility in Rochester to accommodate growth.
Digital Transformation of Finance
Companies have an opportunity to digitally transform finance as they replace aging legacy systems. OneStream’s growth is driven in large part by enterprise companies migrating multiple legacy financial reporting and planning systems onto a single, unified OneStream platform deployed via the cloud or on-premise. More than 75% of OneStream’s business comes from companies replacing outdated solutions from vendors such as Oracle Hyperion, SAP and IBM.
“OneStream Software is changing the game for corporate finance by helping enterprise-class organizations to consolidate multiple legacy systems onto a single, unified platform. This results in significant savings in time and money as well as improved efficiency and productivity for finance teams. A growing number of large organizations worldwide are migrating their finance systems to OneStream and seeing strong benefits,” said Tom Shea, CEO for OneStream Software.
Learn more about OneStream at www.onestream.com
About OneStream Software
OneStream Software provides a modern Corporate Performance Management solution that unifies and simplifies financial consolidation, planning, reporting, analytics and financial data quality for sophisticated organizations. Deployed via the cloud or on-premise, OneStream’s unified platform enables organizations to modernize Finance, replace multiple legacy applications, and reduce the total cost of ownership of financial systems. OneStream unleashes Finance teams to spend less time on data integration and system maintenance – and more time focusing on driving business performance.
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. For more information, go to www.OneStreamSoftware.com.