OneStream Software’s mission is to empower the finance function to move beyond reporting on the past and to steer the business toward the future. The company aims to be the operating system for modern finance by providing a unified platform that digitizes and streamlines core financial processes. OneStream Software’s goal is to enable finance teams to become critical drivers of business strategy and execution. This is achieved by unifying financial and operational data and embedding artificial intelligence to enhance decision-making and productivity.
OneStream Software has established a strong market reputation as a leader in corporate performance management (CPM) solutions. The company is recognized for its unified platform that simplifies financial consolidation, planning, reporting, and analysis for complex organizations. Its customer-centric approach is a key aspect of its reputation, with a focus on delivering 100% customer success. This commitment is reflected in high user satisfaction ratings and recommendations.
Offerings, Capabilities, and Integrations
OneStream Software provides a unified enterprise finance platform designed to streamline and simplify complex financial processes. Its core offering is a single, extensible solution for financial consolidation, planning, reporting, and analytics. This unified approach eliminates the need for multiple, fragmented applications, which gives OneStream Software a competitive edge by reducing integration risks and the total cost of ownership. The platform is designed to be extensible, allowing it to adapt to a company’s evolving needs without adding technical complexity. OneStream Software’s platform can be deployed either in the cloud or on-premise, providing flexibility to its customers. A key capability is its ability to integrate with a wide range of ERP, CRM, and other enterprise systems, ensuring data consistency and providing a single source of truth for financial and operational data.
A significant aspect of OneStream Software’s offering is the Solution Exchange, an online marketplace featuring over 75 downloadable solutions. These solutions, developed by OneStream, its partners, and the user community, extend the platform’s functionality to address specific business needs such as account reconciliations, tax provisioning, and people planning. This approach allows customers to enhance the value of their investment by quickly deploying new functionalities without the complexity of traditional software implementation. The platform also incorporates artificial intelligence and machine learning capabilities through its SensibleAI offerings, which are designed to improve forecasting accuracy and automate financial tasks.
Products and Services
OneStream Software’s flagship product is its unified Corporate Performance Management (CPM) platform. This single platform delivers a comprehensive suite of services for sophisticated organizations. The core services integrated within the platform include:
- Financial Close and Consolidation: This service automates and accelerates the financial close process, handling complex consolidations, intercompany eliminations, and currency translations.
- Planning, Budgeting, and Forecasting: The platform supports detailed financial and operational planning, budgeting, and rolling forecasts.
- Reporting and Analytics: OneStream provides robust reporting and analytics capabilities, including interactive dashboards and guided reporting to provide insights into financial and operational performance.
- Financial Data Quality: The platform includes tools to ensure the accuracy and reliability of financial data through validations and guided workflows.
In addition to its core services, OneStream Software offers a variety of solutions through its Solution Exchange. Notable solutions available on the Solution Exchange include:
- Account Reconciliations: A solution to automate and streamline the account reconciliation process.
- Transaction Matching: This tool helps in matching and verifying large volumes of transactions.
- Tax Provision: A solution to assist with corporate tax provisioning and reporting.
- Lease Accounting: This helps organizations comply with lease accounting standards.
- People Planning: A tool for workforce planning and budgeting.
- Capital Planning: This solution aids in planning and managing capital expenditures.
OneStream Software has also introduced newer products and capabilities that leverage artificial intelligence:
- SensibleAI: This is a suite of AI-powered solutions embedded within the platform. It includes capabilities for AI-driven forecasting, anomaly detection in account reconciliations, and a studio for creating custom AI applications.
- Narrative Reporting: A newer feature that unifies financial data with textual commentary to create comprehensive and collaborative narrative reports.
Target Customers
OneStream Software’s target customers are primarily mid-market and large enterprise organizations. The platform is designed to handle the complex requirements of sophisticated companies, including those with global operations and intricate ownership structures. The primary users within these organizations are finance professionals, particularly those in the Office of the CFO.
These target customers benefit from OneStream Software’s products and services in several ways:
- Unified Financial Processes: Large organizations with disparate financial systems can unify their financial close, consolidation, planning, and reporting processes on a single platform. This reduces complexity and improves efficiency.
- Enhanced Agility: The platform’s extensibility allows businesses to quickly adapt to changes such as acquisitions, divestitures, or new reporting requirements.
- Improved Decision-Making: By providing a single source of trusted financial and operational data, along with powerful analytics and AI-driven insights, OneStream empowers finance teams to become more strategic business partners.
- Lower Total Cost of Ownership: By replacing multiple legacy systems with a single platform, organizations can reduce software licensing, maintenance, and integration costs.
Cloud Integrations and Marketplaces
OneStream Software’s cloud platform is built on Microsoft Azure and the company is a Microsoft partner. This strategic choice was made because the OneStream platform is built entirely within the Microsoft technology stack. The cloud-based version of its platform, OneStream XF Cloud, is hosted on Microsoft Azure.
OneStream Software has a presence on the following cloud marketplaces:
- Microsoft Azure Marketplace: OneStream is available on the Microsoft Azure Marketplace. The listing describes OneStream as a comprehensive, cloud-based platform that unifies financial processes such as financial close and consolidation, planning, and reporting. It highlights the platform’s embedded AI and machine learning capabilities, which are purpose-built for finance teams.
OneStream Software does not have a direct listing on the Amazon Web Services (AWS) or Google Cloud Platform (GCP) marketplaces. While the platform is built on Azure, it has the capability to integrate with various data sources that may be hosted on other clouds. For instance, integration with AWS RedShift is possible via a Smart Integration Connector and an ODBC driver. Additionally, a third-party solution exists to integrate OneStream with Google Sheets.
Key People
- Co-Founder, CEO & President: Tom Shea
- Co-Founder & Chief Technology Officer: Bob Powers
- Co-Founder & Chief Success Officer: Craig Colby
- Chief Financial Officer: Bill Koefoed
- General Counsel: Holly Koczot
Key Facts
- Headquarters: Birmingham, Michigan, United States
- Number of Employees: Over 1,500
- Annual Revenue: $489.4 million
- Parent Company: KKR
- Subsidiary Companies: OneStream Software B.V. – Niederlassung Deutschland, OneStream Software BV Spain Branch, OS Software de Mexico, S de RL de CV, OneStream Software Limited, OneStream Software LLC
- Publicly Listed: Yes, on the Nasdaq stock exchange under the symbol OS
Analyst Recognition
Multiple analyst groups recognize OneStream Software in various technology categories.
- Gartner places OneStream Software in the Leaders quadrant for both Financial Planning Software and Financial Close and Consolidation Solutions.
- IDC positions OneStream Software as a Leader in its MarketScape reports for Worldwide Enterprise Planning, Budgeting and Forecasting Applications and for Record to Report.
- Forrester includes OneStream Software in its research on the Digital Operations Planning and Analytics landscape, where the OneStream platform is noted for its strong support of core and extended use cases.
OneStream Software is not mentioned in the available research from Everest Group regarding relevant technology categories.
