21 March 2018 / Blog
Leverage OneStream XF for Powerful Corporate Performance Management
By: Michael Piloto
The Digital Transformation of Financial IT
The financial industry has long resisted change. Whether it’s been in the way it operates or the speed with which it adopts technology, when it comes to financial service clouds, financial teams have often stayed with a so-so-solution if it meant not disrupting the flow of business. But recent advances in FinTech, most notably global investments exceeding $12 billion over the past couple of years, the push for digital transformation, the strength of the sharing economy and fascination with blockchain technology, is driving interest in cloud infrastructure. And while banks, real estate firms, insurance organizations and other financial concerns would not have considered a Public Cloud solution in the past, increasingly resilient options are making Hybrid and Public environments more tenable. To that end, financial customers have more choice than ever before. No longer relegated to legacy Enterprise Resource Planning (ERP) systems, financial leaders are free to choose from a variety of accounting, reporting, modeling, and business intelligence tools.
Transforming Modern Financial Practices with OneStream Software
Among one of the most frequently recommended by analysts is OneStream Software. Recently rated a Leader on Nucleus Research’s CPM Value Matrix, OneStream XF unifies and simplifies financial consolidation, planning, reporting, analytics and financial data quality for sophisticated organizations. Available both for on-premise (in a remotely managed cloud option) or as a cloud deployed solution, OneStream can apply to a wide set of corporate and departmental use cases.
The hallmark of its SmartCPM™ platform is its capability of having multiple solutions for actuals, budgets, forecasts, plans, reconciliations, profitability analysis and more–all within a single application. “To me, that is one of the differentiators,” a OneStream customer tells Nucleus. “What it means is that nothing breaks. I’ve had them implemented for three years and there has been zero downtime, even with multiple upgrades that have taken place over time.”Is OneStream right for you?
The application helps with the following pain points:
- Reduce time, costs spent on legacy apps and error-prone spreadsheets
- Eliminate challenges with financial close, consolidation, and reporting
- Forecast more accurately by introducing agile budget and planning tools
- Align actuals to forecast for increased visibility and accuracy in reporting
- Gain actionable insights from your analytics by turning data into knowledge
- Align financial and operational plans and forecasts
- Reduce costs of ownership vs. legacy solutions
- Future-proof your investment with functionality and scalability to meet your needs today, and in the future
- Get your nights and weekends back
Velocity and OneStream Help Finance Organizations Get Back to Business
Velocity Technology Solutions is proud to offer its customers best-in-class solutions like OneStream. With more than 70 Business Intelligence customers and 40+ dedicated BI application resources, Velocity delivers the highest level of success for Corporate Performance Management implementations.