Statutory and management reporting, budgeting, forecasting, planning, financial, and operational analysis are things an enterprise cannot do without and their cost of ownership can be very high. The typical company has a raft of applications, none of them are cheap, the integration is complex, and the updates can be a nightmare. Craig Colby, Chief Revenue Officer of OneStream, and his team of CPM cloud experts seemingly have the answers to all of these issues. OneStream was founded to deliver all the corporate performance management applications the enterprise needs in a single platform using seamless Microsoft technology stack and everything in the Azure fabric. “Our only technology partner is Microsoft and together we reduce the total IT footprint. In our industry, a typical upgrade can last anywhere from three to six months; having a single Microsoft footprint means we upgrade the largest customers in about two hours,” he says.
Colby identifies multiple individual products and technologies on the market that attempt to solve the different business problems facing companies today. “There’s inherently more risk associated with multiple products. Integration risk, learning risk and the data has to find its way back together somehow, and how do you do that? For enterprise-class organizations using disparate systems, this can be costly and painful. But there is a solution, and the solution is a single product developed on a single Microsoft technology stack,” says Colby.
The benefits of deriving multiple solutions from the same product and application are huge. End-user experiences improve as they are only learning one-product and workload fluctuations are handled with ease.
We are trying to democratize machine learning for better predictive analytics
The problem of product integration and updates simply disappear. “All the data stays together,” says Colby, “and that’s the business problem we have set out to solve since Day One.”
What OneStream offers is a true SmartCPM™ platform with all the functionalities that the customer needs to immediately solve their business problem. The basic platform manages reports, financial consolidation, forecasts, plans, and analyses. The value of the platform can be extended with free downloadable solutions to meet additional specific business requirements.
The single-platform approach means that, when OneStream creates something new, they leverage all the components that are already there. There is no need to create a new integration layer or a new data quality layer. Colby believes that, in five years software companies who do not have a single-platform approach that can be expanded organically, will not be able to compete.
OneStream uses Microsoft because the programming language and the technology work together effortlessly. This means there is no technical risk for customers. It uses SQL Azure because it’s both performant and conformant. Colby says, “The SLA just can’t be beat. Moreover, with automatic redundancy our customers do not have to worry about losing data. If something goes wrong, we can do a restore for our clients going back 35 days to the minute. We don’t have to worry about it, the clients don’t have to worry about it – Microsoft takes care of all of that in the SQL Azure fabric.”
Perhaps, OneStream’s greatest edge is in machine learning. “We are trying to democratize machine learning for better predictive analytics. We are taking something that is very technical and turning it into something that any customer can use for a greater business advantage,” affirms Colby.
OneStream is dominant in the United States and Western European region, and the firm has signed their first Asia-Pacific partnership. Their aim is to grow, but always in a way and at a rate that still allows them to guarantee 100 percent reliability and customer satisfaction.