OneStream vs. Synoptix

OneStream is best suited for medium to large companies that find themselves doing a wide variety of manual processes during their financial close cycle will get the most benefit. That does mean a lot of change so there has to be very intentional communication around change management in order to get the buy in that is necessary for success.

Incentivized

It is excellent if set up well, and users are well trained on how to use it as it is not very user-friendly. But to achieve that, you have to go through the hell of a setup. Support is not knowledgeable in some areas of the software, it is tough to set up and install, and when presented by salespeople, it is all great, but you need to invest a lot to pay it off.

Incentivized

• With OneStream’s Account Reconciliation solution, the finance team can now see an overview of their reconciliations which saved a significant amount of time as compared to navigating through spreadsheets.
• OneStream allows much detailed transactional level data (with millions of transactions) from integrated source systems to be consolidated right up to the highest level with drill-down capabilities providing a detailed audit trail as well as full transparency across the organizational hierarchy. This was the biggest benefit as to why OneStream was the preferred choice.
• The native dashboarding capabilities allowed the company to replace their standalone BI tool with dashboards within OneStream.
• Analytical blend capabilities provided risk management and risk governance capabilities which before this was not possible for the customer.

• Easy report building interface with an query interface that allows financial users the ability to conduct complex queries without difficulty.
• The ability to create reporting that allows us to review in-depth financial review by drilling down into accounts to find transnational data easily.
• Easily maintained and monitored with simple upgrade installations and end point installation.
• Great knowledge base for review and trouble-shooting.
• Highly knowledgeable and easy to work with staff.

Incentivized

• Dashboards are very useful to business users, but can be time consuming to build.
• Best practice documentation, the product is evolving and is relatively new (about 10 years old) so best practices are still be developed and communicated to the OneStream community.
• New product feature documentation and examples.

Incentivized

• It has a poor install procedure which is not standard. It almost requires copying folders from an existing computer to the new install.
• The update process is less than desirable. It seems like Compusoft needs to do a better job of testing before releasing updates.
• The interface is a bit archaic. It looks more like a program from 20 years ago than one used today.

Incentivized

Currently we are using OneStream with people 80 - 100 to load the PL, BS , Forecast budget and People Planning. OneStream give us more visibility on trend and way forward thinking. Thanks to OneStream for the tool which helps the business in growing way. Thinking of innovation OneStream is right path.

Incentivized

Overall usability as an end-user is very easy. There are more people in the system getting information now than the prior platform used. People are gathering their information quicker as well. From an administrator standpoint, there are fewer glitches and issues than the prior platform. This is very good.

Incentivized

OneStream support is focused on the infrastructure. Which means mainly when there issues with accessing to the system, they will be able to help. When the question is to much leaning towards functional it really becomes billable. The other issue is that the response time is not optimal. There is a lot of pingpong of messages and the time between the message can sometimes be long. Sometimes this result into a simple ticket to be taking days before it is closed.

Incentivized

Support does not know much about software solutions. As an example, I have struggled for weeks just to set up LDAP that should be fairly simple.

Incentivized

OneStream is a much more powerful solution for us. Both products claim they can "do it all" but the OneStream XF Marketplace allows us limitless possibilities for what we can do - at a fraction of the implementation cost.

Prior to Synoptix we were using the reporting tool that comes with our ERP system. It lacked the drilldown and comparability functions that make Synoptix the top pick. Further, designing reports and maintaining reports was very labor intensive

Incentivized

• Customers have moved from multiple EPM systems as well as multiple EPM applications to OneStream.
• Their ROI has been quite high as lesser admins are required, no need to move data back & forth, no need for an additional dashboarding / BI tool, once a user is on OneStream can leverage it for more than 50+ use cases at no additional license cost.
• Automation, direct integration, scheduling, complex calculation capabilities, all help to further improve ROI and free up the time for the team to do value-adding tasks.
• Last but not the least is the confidence on the numbers is much higher.

• As a reporting tool it has allowed us to make fact based decisions. We have a significant annual cost with relation to our legacy system and Synoptix provides us with the best tool to mine the data that resides in our legacy system.

Incentivized