OneStream Software provides a finance platform that aims to reduce the complexity of financial operations. OneStream™ supports finance by unifying corporate performance management (CPM) processes such as planning, financial close & consolidation, reporting, and analytics through a single, extensible solution. The vendor states their goal is to empower the enterprise with financial and operational insights to support faster and more informed decision-making. It is a cloud platform designed to…
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Planful
Score 8.1 out of 10
Enterprise companies (1,001+ employees)
Planful is a cloud-based enterprise performance management (EPM) suite. It includes financial applications for modeling, planning, consolidation, reporting and analytics.
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Pricing
OneStream
Planful
Editions & Modules
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Offerings
Pricing Offerings
OneStream
Planful
Free Trial
No
No
Free/Freemium Version
No
No
Premium Consulting/Integration Services
Yes
Yes
Entry-level Setup Fee
Required
No setup fee
Additional Details
The solution is only for Enterprises. Pricing for software is based on number of total users and one user gets all software functionality. Implementation would be based on what business problem or problems the solution will be used to solve, such as financial consolidation and reporting or planning or account reconciliations, etc.
OneStream is much more robust, has functionality around creating financial statements in Common Currency which other systems we used could not handle. OneStream has a really good structure around it. We believe it's a much better fit for a Global company of our size. We're just …
OneStream is a much more sophisticated solution that allows much more customization and control over your system. Also, having the various MarketPlace solutions to add to your system makes the possibilities endless. These solutions are also seamlessly integrated whereas other …
They all have pretty similar functionality, I liked Planful because it was all cloud-based and we didn't have to buy a bunch of hardware. Spotlight dynamic planning I felt was the most versatile available at the time, not sure if it still is, and I liked the idea of building …
Financial Planning / Forecasting, People Planning, and Financial Close and Consolidation are well suite while we are still evaluating GL Account Reconciliations and other solutions available via the Solution Exchange. Overall, we believe OneStream is going to allow us to "get out of excel" and perform Global Consolidation in the system
Planful makes it very easy to roll forward forecasts and conduct scenario analyses. I'm also a big fan of their reporting and how easy it is to distribute a report burst to satisfy all the needs and questions of our SLT. Lastly, their latest developments in the AI space make it easy to quickly identify outlier projections.
Creating forecasts for the month, quarter, and year
Creating new variables by using variables pre-defined and that are new in the system
Having a very simple setup in the reports section - not straying away from the old Excel model which most people are used to. I can speak for a lot of people when I say that tools that look new can easily be frightening! 😅
The Excel Add in is limited to only one application. Would be good to have the ability to pull from say Dev and Prod so side by side comparisons could be done
Multiple currency calculations/ consolidations support IFRS accounting
Ability to inactivate old data dimensions
Reporting - Need ability to expand all/collapse all lines easily
Reporting - Formula exceptions added to a report do not update when information is revised.
Automatic Sandbox refreshes initiated by Planful - When Planful does an automatic refresh of the sandbox environment, it copies any Boomi/integration connections.
Limited to 8 data dimensions in core application
Add more API connectors to make data integration easier
ability to transfer sandbox tests to production environment
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.
Our new Comptroller understands the value of Planful, and we plan to utilize it further in the organization to enhance external reporting. Strangely enough, Planful had not previously been embraced by the former CFO, who argued that we were running two sets of books (of course, we were not). Fortunately, the before mentioned reconciliation of EBITDA to Net Income demonstrated that to the banks.
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.
Planful is very easy to use for end users. The budget templates can be customized to meet the business needs. They just released business user experience functionality which you to take a complicated budget template and filter it down to meet departmental needs to avoid sending more lines than needed
I only give a 9 rating rather than a 10 rating because it seems that every day around 2pm we see a slowdown in the use of Planful. I have requested our internal IT department verify that it is not an internal issue and have been assured it is the tool. We have not yet reached out to Planful to do extensive research to solve this issue.
Again, the system is very reliable and, for the most part, runs very quick and smooth. When running larger queries, it does take some time, and during budgeting season our users experienced slower loading times, but nothing that raises concerns outside of normal network issues. Occasionally, as with any software we use, it will crash and you have to restart, but that does not happen very often.
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.
Sometimes we get great help when using Planful's support team and other times we don't. In particular, there is one person that often responds to our support tickets who is less than helpful, hence the reason for the 5 out of 10 rating. As a result, most of the time we reach out to our Planful consulting group as they provide faster and better support
We got little training on the tool after implementation. Did a lot of "trial by fire" learning about Planful. I don't think RSM really provided us all the details we needed to understand the tool and to know what we needed to train on. I don't know we knew enough about the tool to even ask the right questions and then they left and we used Planful support a lot.
onestream offers a range of training. I have attended a number of trainings. During the trainings a vast amount of information is discussed. The trainings also include exercises. The speed of the training is pretty high. When reviewing the training material afterwards, I found that the material is not complete as reference as it relies also very much on the verbal explanation and elaboration.
A few years ago I participated in a lot of their online learning. Their references have grown over the years and continue to get better and better. We use it throughout the year to update the information we hold internally for documentation and to educate ourselves on all of the new release notes and features within Planful.
After going through the initial implementation with Host Analytics and a re-implementation with Cervello (due to an ERP change, not due to a poor initial implementation), I've learned that you really must rely on your internal staff to bear most of the implementation burden. Use the vendor or partners for ideas and best-practice suggestions, and some of the easy-but-time-consuming work. Since you will ultimately be using and maintaining the application, you should be able to do most of it yourself.
OneStream is the overall clear winner against HFM. There are a few things HFM does better (a couple things in Smart View), but it just doesn't have as much capability. The single, integrated platform that OneStream is provides a massive upgrade from HFM.
Planful seems to do a better job of pulling things in a format that is more understandable to an accounting-minded person, whereas the other platforms seem more focused on operations. From a detail perspective, Planful provides more powerful and complete data, in my experience. When using a platform for financial planning and budgeting, the details are critical and the ability to match the GL structure and pull full P&L data has been a big improvement from Qlik, which we used previously.
I give this rating simply because I have first-hand knowledge of the scalability of Planful when working across departments in our company that use different financial systems. We have one team on InEight and another using SAP. When we implemented it, we only customized the system to accommodate one of these financial platforms, but when we considered expanding the use of Planful to other departments, we were able to make the necessary adjustments to accommodate our needs.
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.
We have saved a large amount of time on reports that we previously manually compiled in Excel via MS Dynamics. Planful was linked to Dynamics through automatically scheduled DLR's, reports were created, and now our manual processes are as simple as accessing and refreshing a report.
Dashboards have improved our budgeting process specifically with our production leaders as they can visualize their P&L's, their current actuals, current budget, and see where they are forecasting with their proposed budget for the next year
With the use of templates, structured planning, and the Simulation Engine, it has added a lot of value and automation to our annual budget process, allowing for plug-and-play type data loading and viewing various scenarios easily
