Item: OneStream
Rating: 10
Author: Michael Gialanella

Use Cases and Deployment Scope

I assist with and lead the implementation of the OneStream XF platform for OneStream customers. The current customer I am working with provides various types of products to restaurants. Their need is to track by department, location, and product, the cost and revenue for each of their facilities. They have a monthly reporting requirement to show year-over-year revenue analysis and trends. They need to do daily Cash Flow so they can evaluate their daily cash balances. They also do Bank Reconciliation and in the future will be doing Account level Reconciliation to identify monthly activity and further analyze financial trends.

Pros and Cons

Consolidation tasks, both detailed and summary status of tasks for an organization performing their monthly close.
Reporting, reports can be defined as repeatable monthly operational reports as well as on-demand/ad hoc reports. Many presentation formats are available including PowerPoint, PDF, MSWord, Excel, as well as Dashboards. Report Books can be produced as well for packaged, repeatable reports for distribution. Distribution can also be automated and distributed to various groups of users.
Anything financial, it's a one-stop-shop where you can build anything for the office of finance. Forecasting, Budgeting, Cash planning, Revenue recognition, variance analysis, commentary collection to explain the unusual activity. And it is all fully auditable.

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.

Most Important Features

Financial close and consolidation
Planning, both Budget and Forecasting
Standard monthly operational reporting
Financial Dashboards

Return on Investment

Reduction of days in the close process
Improved visibility to how data has been loaded, calculated, translated, all the way to the reporting aspect of that data. Full traceability.

Alternatives Considered

Oracle Hyperion Enterprise Performance Management

The inventor of OneStream was also the inventor (previously) of Hyperion Enterprise and Hyperion Financial Management. Their greatest competition in the market is the legacy software products that they invented.

Key Insights

Do you think OneStream delivers good value for the price?

Yes

Are you happy with OneStream's feature set?

Yes

Did OneStream live up to sales and marketing promises?

Yes

Did implementation of OneStream go as expected?

Yes

Would you buy OneStream again?

Yes

Likelihood to Recommend

OneStream is an outstanding consolidation product, it is easy/simple for users to identify what their tasks are using guided workflows. Reporting when done right, is very simple for end-users. The available output formats for report distribution can be accommodated based on how that organization wants to receive and review financial data. The XF MarketPlace is full of many useful tools to assist with implementation, including standard Application Reports and standard System Reports. Security Audit reports are pre-built and available for download on the XF MarketPlace so you don't need to build those. These reports are a simple import into any OneStream application and an Administrator can run them out-of-the-box to get an overview of their application and security. Improvements within the last 1-2 years in the area of detailed operational analysis have been accommodated using new features such as Analytic Blend. Large volumes of transactional data can be loaded to OneStream and reported on.

OneStream XF - Making good choices

Overall Satisfaction with OneStream™