OneStream Software is a leading financial platform that simplifies financial operations by unifying enterprise performance management processes such as planning, financial close, consolidation, reporting and analytics. It runs in the cloud, enabling quick and informed decision-making, while being flexible and scalable. Currently, OneStream is considered a global leader in the technology industry, right next to other giants such as Anaplan, Lucanet, insightsoftware, and IBM.
The platform is the result of collaboration between prominent industry leaders such as Tom Shea, Bob Powers and Craig Colby. Together, they have unrivaled experience in the field of corporate performance management – CPM (Corporate Performance Management) and decided to create a revolutionary platform that will redefine the standards in financial consolidation, planning and reporting.
When did it all start?
The history of OneStream dates back to 2010, when the team started working on the platform. Tom Shea, CEO, was the primary visionary, wanting to create a platform that was not only powerful, but also easy to use, quick to deploy, and quick to maintain. Bob Powers, serving as VP and CTO, worked with Tom to build a robust technology structure. In the period from 2010 to 2012, the company focused its efforts on research, development and technical verification aimed at ensuring a solid basis and correctness of the data. A key aspect of the next stage was to attract industry experts from engineering, consulting, sales, marketing, IT, finance, HR and other fields to the team. They had a decisive influence on the success of the platform implementation. The team was assembled by engaging people with extensive experience who contributed valuable knowledge to the development of OneStream.
OneStream as an integrated tool
One of the main issues the OneStream team identified was the need to use multiple applications for planning, financial consolidation, and reporting. Therefore, as part of the development of the platform, it was decided to replace these complicated processes with one integrated solution. Hence the name OneStream, which reflected the idea that these dozen or so systems should evolve into one platform with infinite expansion.
The first client OneStream started working with in 2012 was Tenneco. This partnership was a key step in the company’s development, with OneStream implementing and developing its software according to Tenneco’s specific requirements, adapting to their unique needs. The next client was AAA Life Insurance, and others followed, creating a solid customer base for the company.
Innovative OneStream features
One of the milestones was the introduction of an innovative feature called Extensible Dimensionality™, which has become a unique element of the OneStream offer. This feature allows users to operate at different levels of detail across all dimensions, eliminating the need for multiple applications and facilitating process integration.
In 2015, the company introduced MarketPlace, which enabled customers and partners to use additional solutions, giving them the freedom to adapt the platform to new requirements. OneStream MarketPlace provides customers with over 50 solutions that can be downloaded, configured and deployed to easily expand the platform’s capabilities. Examples of solutions include: Task Manager, Account Reconciliations or Tax Provision. OneStream has since then consistently achieved subsequent milestones, gaining its 100th customer in 2016 and growing dynamically, currently serving over 1,200 customers around the world.
Summary
OneStream’s vision is to eliminate complexity through a unified platform, making the company a forerunner in enterprise performance management. The founders and the entire OneStream team are committed to providing customers with innovative and comprehensive solutions, thus revolutionizing the approach to key financial decisions in enterprises around the world. These values are also part of Incube CPM’s activities, which aim to provide Polish and European companies with the highest quality corporate performance management (CPM) tools.