Item: OneStream
Rating: 10
Author: Verified User

Use Cases and Deployment Scope

We currently use OneStream for financial close process, account reconciliations, transaction matching, task manager, and reporting / analysis. We also have plans to expand on these by utilizing additional Marketplace Solutions such as machine learning, people planning, etc..

So far, OneStream has improved are close process timeline, increased reporting visibility, and is very user friendly.

Pros and Cons

As a global company, we have multiple source systems that are used for financials. OneStream allows us to bring in the financial data from source to a consolidated view for reporting.
Ability to blend financial data with operational data.
Reporting and analysis. Ability to create a wide range of reports. From standard cube views to intricate dashboards to extensible documents that works with Microsoft Office.

The only issues we've experienced are directly with the business end and not with OneStream's capabilities.
I would like more advanced learning possibilities.

Return on Investment

The close process timeline was cut by nearly half. On quarter closes, we no have earnings release within 3 weeks of close.
Implementation should be done with a good partner who understands best practices and capabilities. Not going this route will decrease ROI.

Alternatives Considered

SAP BPC (Business Planning and Consolidation)

OneStream single unified platform capabilities are outstanding. The flexibility around OneStream has allowed us to mold OneStream into our business model, whereas, I felt SAP forced us into their model. As an analyst, the reporting capabilities are my bread and butter and they are outstanding. It allows for automating recurring reporting tasks and being able to schedule delivery. Not all reporting is recurring though, and the ad hoc capabilities have been wonderful to work with as well.

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?

Would you buy OneStream again?

Yes

Other Software Used

Microsoft 365, Tableau Desktop, DBeaver

Likelihood to Recommend

OneStream has drastically reduced our turnaround time during the month end process. Task manager has kept us on top of each steps within all processes to make sure no steps are missed, and also allows us status updates by viewing completed/open tasks. The reporting capabilities have allowed us to dive deeper into our financial results. Forecasting/budgeting will allow us to more accurately predict our future results using advanced capabilities such as AI and predictive analysis.

OneStream Empowering Financial Excellence

Overall Satisfaction with OneStream