OneStream Software, a leader in corporate performance management (CPM) solutions for advancing financial close, consolidation, reporting, planning and forecasting, announced several key innovations designed to increase end-user speed to insights across Financial Performance Management, Operational Planning & Analytics and Forecasting processes at its 2023 Splash Berlin Global User Conference and Partner Summit. The innovations introduce the next generation of the OneStream platform with AI-driven forecasting and automation and expanded ESG capabilities.
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“I’m inspired to hear our customer stories on how they’re applying OneStream solutions and look forward to seeing how OneStream’s newest innovations will help our customers across Europe address key challenges, including meeting new ESG reporting mandates and leveraging AI and ML technology to increase productivity and improve decision making.”
“OneStream’s latest innovations reinforce our commitment to delivering customer success through leading-edge capabilities designed to enable increased financial and operational agility,” said Tom Shea, CEO at OneStream. “Our AI-driven forecasting and automation provide purpose-built capabilities to apply the power of AI to daily planning and reporting processes. The expansion of the Solution Exchange enables developers and customers to build, and leverage tailored and industry-specific solutions to address their most pressing business needs and do so to address a wider spectrum of operational planning, reporting and analysis requirements.”
Next Generation Platform Developments: Released in August, OneStream V 8.0 helps Finance teams work faster, smarter and stronger with significant performance gains, enhanced end-user reporting and analysis, and user-driven data connections and security. New updates include:
- Technology Modernization with Microsoft .Net 6 to provide faster performance, greater throughput and a path to real-time scaling that responds to demand, decreased maintenance intervals and faster upgrades. This strategic advancement addresses the evolving needs of OneStream customers, adapting to the increasing demand for processing larger volumes of data and handling more demanding calculations. It effectively manages periodic and sporadic spikes in processing requirements across planning, reporting and financial close processes.
- No-code SAP integration through a previewed SAP connector to provide direct integration with SAP ERPs to create, test and validate connections. With over 300 customers using OneStream with SAP ERPs, OneStream’s continued investment provides a guided visual framework to more easily connect OneStream with SAP. This will enable users to create, test and edit logic to extract data from SAP across financial performance management, operational planning & analytics and AI-driven forecasting processes.
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AI-Driven Forecasting and Automation: Building on the customer success and value delivered by its Sensible ML solution, OneStream is previewing a Sensible LLM solution designed to unify generative AI with CPM, including providing tech support assistance, platform & design assistance and enhancements to Sensible ML for scenario planning use cases.
Expanded Solution Exchange Offerings Including ESG Planning & Reporting: Initially launched in April, the OneStream Solution Exchange is designed to enhance the development experience and accelerate the delivery of new businesses and productivity solutions from OneStream and OneStream partners. The Solution Exchange provides over 75 downloadable solutions built and optimized for the OneStream platform. The latest developments of the OneStream Solution Exchange include:
- ESG Blueprint: The ESG Blueprint leverages platform capabilities to accelerate the delivery of ESG reporting and planning with pre-built carbon calculations and ESG metric conversions. At Splash Berlin, Accell Group is highlighting how they implemented OneStream’s ESG capabilities to unify financial and ESG data management processes in the OneStream platform for streamlined ESG reporting. This enables the Finance team to easily track and report on key sustainability metrics on a monthly and quarterly basis, as well as easily compare and analyze performance across different business units and locations.
- PartnerPlace Solutions: Following the initial launch in April 2023 with five partners delivering new solutions, OneStream is now reviewing applications submitted for the second wave of PartnerPlace solutions. New PartnerPlace solutions delivered with the initial launch of the Solution Exchange include:
- Strategic IQ: Automotive Planning Factory
- AMCO: Lease Accounting
- Black Diamond Advisory: OneStream Utility Bundle
- Finit: DrillIt, AllocateIt and ToolkIt
- Spaulding Ridge: Dynamic Cash Flow
“The innovations revealed at Splash Berlin will enable users to gain more value from the platform, expanding the scope beyond traditional CPM to engage rapid, critical insights to help steer businesses towards improved performance,” said Matt Rodgers, EVP, EMEA at OneStream. “I’m inspired to hear our customer stories on how they’re applying OneStream solutions and look forward to seeing how OneStream’s newest innovations will help our customers across Europe address key challenges, including meeting new ESG reporting mandates and leveraging AI and ML technology to increase productivity and improve decision making.”
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