OneStream vs. Workiva

OneStream is best suited for medium to large companies that find themselves doing a wide variety of manual processes during their financial close cycle will get the most benefit. That does mean a lot of change so there has to be very intentional communication around change management in order to get the buy in that is necessary for success.

Incentivized

Wdesk is best suited for companies with demanding SEC filings and documents, with multiple revisions due to auditor/counsel review, and where financial reporting is extremely manual. Wdesk really helps take out the potential errors out of extremely manual processes, and helps automate regular financial reporting by allowing companies to link financial information and build customized flows of their information into financial statements and other documents (such as presentations or other internal reporting).

Incentivized

• Consolidation engine is powerful, we have around 500 entities translating from multiple source currencies into a common currency at good speed.
• We leverage the Flash and Quarterly forecast providing users with pre seeded data so they only need to make tweaks rather then filling in a lot of manual forms.
• We use Transaction matching for processing a lot of intercompany matching invoices from the ERP systems which helps end users a lot. Data is fed in from source ERPS and TXM generates the auto matches based on criteria provided.
• We have a custom Tax module which we use to pull in tax entries from the consolidation side and this gives the Tax teams starting position for their tax calculations and enables them to also do a quarterly forecast estimate.
• OneStream has great dashboarding capabilities for a whole range of use cases from charts and graphs, to drill-back data to running even steps that users can execute without having access to the source code/rules in the background!

• Incredible support from Workiva and always bringing news and improving the product through community feedback.
• I think the product is easy to use, has a friendly interface and we feel safe to use it.
• Quick business vision and improved decision making with the help of software with real-time reports.
• Exceptional support service, very fast and they help you with everything you need and are super helpful.

Incentivized

• Provide some more prebuilt dashboards that serve as reference examples for specific topics, to allow users to gain an idea of all that is possible
• Provide some clear cut explanations to explain some of the standard concepts, to allow companies that start their implementation to gain a quick understanding of how things work

• The automation could be better. A lot of mass updates are done manually.
• Sometimes the system has connection issues and certain functions are down.
• The customer service could be more proactive to provide regular training and sharing updates on the software.
• Customer service could be better to help process the mass updates in a timely fashion.

Incentivized

Currently we are using OneStream with people 80 - 100 to load the PL, BS , Forecast budget and People Planning. OneStream give us more visibility on trend and way forward thinking. Thanks to OneStream for the tool which helps the business in growing way. Thinking of innovation OneStream is right path.

Incentivized

Overall usability as an end-user is very easy. There are more people in the system getting information now than the prior platform used. People are gathering their information quicker as well. From an administrator standpoint, there are fewer glitches and issues than the prior platform. This is very good.

Incentivized

Overall it's a good-to-go product because of its features. It's easy to set up, meets requirements, has quality support, etc. So far, it has been working quite well for me, and I wish to continue using it for as long as it meets my requirements.

Incentivized

OneStream support is focused on the infrastructure. Which means mainly when there issues with accessing to the system, they will be able to help. When the question is to much leaning towards functional it really becomes billable. The other issue is that the response time is not optimal. There is a lot of pingpong of messages and the time between the message can sometimes be long. Sometimes this result into a simple ticket to be taking days before it is closed.

Incentivized

I have not had to deal with the Support Team, but overall our experience with the tool has been positive. They try to set new customers up for success from the start (I was part of the sales process, not the actual onboarding) and seemed to know that it’s a difficult transition, but worth it in the long run.

Incentivized

onestream offers a range of training. I have attended a number of trainings. During the trainings a vast amount of information is discussed. The trainings also include exercises. The speed of the training is pretty high. When reviewing the training material afterwards, I found that the material is not complete as reference as it relies also very much on the verbal explanation and elaboration.

Incentivized

OneStream is much more robust, has functionality around creating financial statements in Common Currency which other systems we used could not handle. OneStream has a really good structure around it. We believe it's a much better fit for a Global company of our size. We're just scratching a surface of what the system capabilities are.

Incentivized

I liked Merrill Bridge and Wdesk. I'd be happy with either one, as both have a user interface that's simple for seasoned users of the Microsoft suite of products. We use Wdesk because there's a large network of Wdesk users in this community, there are lots of training resources available online and in-person, and all of the departments in the company like the program.

Incentivized

• Customers have moved from multiple EPM systems as well as multiple EPM applications to OneStream.
• Their ROI has been quite high as lesser admins are required, no need to move data back & forth, no need for an additional dashboarding / BI tool, once a user is on OneStream can leverage it for more than 50+ use cases at no additional license cost.
• Automation, direct integration, scheduling, complex calculation capabilities, all help to further improve ROI and free up the time for the team to do value-adding tasks.
• Last but not the least is the confidence on the numbers is much higher.

• We have not quantified the ROI but we have definitely saved money and time by switching to Wdesk.
• By integrating other things we do currently outside of Wdesk, like SOX, we can reap better benefits.
• We currently use a third party tool for Form 4s etc and this too could be brought into the Wdesk fold.

Incentivized