TrustRadius Insights for OneStream are summaries of user sentiment data from TrustRadius reviews and, when necessary, third party data sources.
Pros
Time-saving Account Reconciliation: Several users have found OneStream's Account Reconciliation solution to be a significant time-saver compared to navigating through spreadsheets. They appreciate being able to see an overview of their reconciliations, which allows them to consolidate data from integrated source systems at a detailed transactional level.
Native Dashboarding Capabilities: Users are impressed by the native dashboarding capabilities of OneStream. They are able to replace their standalone BI tool with dashboards within the platform, streamlining their reporting and providing them with great reports and visualizations.
Easy Data Integration: Many users highlight the easy data integration capabilities of OneStream. They find it convenient to import data from simple CSV files to more complex data sources using API, SQL, etc., making it seamless to bring in data from multiple sources.
OneStream Reviews
12 Reviews
Professional, Scientific, and Technical ServicesAccounting2Information Technology & Services6Management Consulting3Research1
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We are an Onestream implementation partner. At our customers, we implement OneStream for streamlining monthly closes, planning, forecasting, and reporting. We are very happy with OneStream as it provides the platform for us to support our customers optimally. OneStream is a fast, reliable, proven, and flexible platform that allows for an optimal configuration for each of our customers.
Pros
Consolidation
Planning
Forecasting
Budgetting
Workflows
Calculations
Reporting
Cons
Web interface
Power BI integration
Power point integration
Likelihood to Recommend
OneStream is well suited to support large organizations with the whole finance function. Ideally, starting with the Actual data but building on that to also include budget, forecast and non-financial information to allow for one single platform containing all data and reports required for the finance function in the organization.
We use OneStream as our Consolidation tool for collecting our Actuals data from various source ERP systems. We also use an Investment register built into the tool and then also use OneStream for Flash reporting, Annual Plan and quarterly forecasts. We are also considering ESG reporting and expanding our Tax use of the application.
Pros
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!
Cons
Journal copy feature would be good to have
The Excel Add in is limited to only one application. Would be good to have the ability to pull from say Dev and Prod so side by side comparisons could be done
Better interface to handle metadata changes
Likelihood to Recommend
I think it is a great platform and so much can be done starting with the core EPM features like Actuals Budget Forecast and then going on with Machine Learning and even AI where it makes sense. Bi Blend is another area I have used in a previous place that seems to work really well.
I am a consultant that implements OneStream at various clients, and that's where I think OneStream's strength lies. It can be adapted to fit any industry from manufacturing to retail to financial services. It also provides functionality to support close/consolidation, budget/planning, and reporting from a single tool and single source of truth.
Pros
Close/Consolidation
Budget/Planning
Reporting
Account Reconciliations
Metadata Management
Likelihood to Recommend
I haven't come upon a situation or need that we haven't been able to address in OneStream
We use OneStream for enabling our clients to use CPM systems for planning, Budgeting and Forecasting. Also the OneStream system is used by our clients for consolidations to enable them to have a clear cut insights of their financial data and helps to do better decision making. The financial data analysis helps the organization to better allocation and use of the funds. OneStream is used by us for generating various financial reports such as Income Statement, CashFlow, Balance Sheet etc.
Pros
Consolidation
Planning
Eliminations
Allocations
Cons
Better enablement of OneStream excel addin. Every time when we have to fetch data from two different application, we have to log off from one and login to the other. This is very irritating for a developer who do unit testing.
More free access to the learning content
Better pricing for certification exams
Likelihood to Recommend
It is a revolutionary product to have all the financial data analysis tools under one blanket. Earlier the planners and the CFOs had to juggle between various financial analytical systems for the analysis of data for better decision making but now their life has become much easy with all the products packaged under one umbrella.
VU
Verified User
Consultant in Information Technology (201-500 employees)
OneStream is used as a CPM platform for consolidation, budgeting, disclosure, IFRS reporting, cash flow and other reporting needs. It has been valuable in reducing our reporting time. Our prior application could not handle our growth in size and OneStream has proven to well suite to handle the size and growth of our company. Because OneStream is a platform, it is not only used by our finance department for consolidation, but also by Tax, HR and we are looking into expanding the new use cases like ESG, Pillar 2 etc.
Pros
Financial Consolidation
Calculations using business rules
Workflow
Reporting and disclosures
Data Interfaces
Audit trail
Cons
More/better excel functionalities
Better helpdesk support
Visualisation (e.g. graphs, charts)
Reporting layouts
Likelihood to Recommend
OneStream is well suited for larger companies who are looking for a platform not only for consolidations but also for a other reporting purposes, for instance, planning, esg, etcetera. As it is a platform with wide range of possibilities, this has also implications on the support. Therefore it is better suited for companies who can ensure they have access to sufficient support, internal or external. For simple reporting OneStream may be to heavy of a package.
VU
Verified User
Professional in Finance and Accounting (5001-10,000 employees)
For Business Planning & Consolidation. - One source of the truth - Integrated business planning from target setting to production - What If scenario planning - Streamlined consolidation processes.
Pros
Integrating multiple sources
End user process
Custom made calculations
Cons
Disclosure Management
Standard Calculations
Likelihood to Recommend
All the clients that I worked for are happy with OneStream, and really using the product. With OneStream it is possible to really digitalize the total Financial Office with one source of the truth. No more discussion about data, its about analyzing not about creating data. Looking forward to integrating ESG within OneStream.
VU
Verified User
Consultant in Finance and Accounting (51-200 employees)
Companies recognize their old way of manually consolidating financial data or manually preparing forecasts just isn't efficient. We help them free up time so their employees can work on higher value add items instead of trying to figure out how Excel broke the model. This leads to accountants doing analysis rather than checking for formulas that have hard-keyed amounts or broken cell references.
Pros
Consolidates complex entity hierarchies
Calculates forecasts with many drivers
Cons
Some improvements on documentation would be helpful.
The ability to use keyboard shortcuts is severely lacking.
Likelihood to Recommend
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.
Working in the EPM environment for over 16 years on multiple products, OneStream is by far the best product out there. There are always new features that are added with each new release that go above and beyond what it was originally designed to do. Something that is lacking in it's competitors.
When a customer says, can OneStream do x and y, the answer in most cases is yes.
Pros
Single product that does multiple tasks. No need to buy multiple products.
Great support.
Good consolidation engine built in.
Extensibility
net and C# based. Easy to write a range of simple to complex business rules.
Dashboarding
PDF reporting
Data Integration capable of importing data from simple csv files to importing data from source systems using API/SQL/etc.
Cons
Dashboarding can be made easier.
Latest client and Excel addin is not compatible with previous versions.
OneStream has the same cube limitations that exist in other products.
Likelihood to Recommend
OneStream excels in especially well in financial consolidation, budgeting and forecasting. The reporting aids in this being a very good all round product to get ones financials done. It also works well where there is a need to aggregate any data for reporting purposes.
With the free bolt on solutions that are provided in the Market Place, you definitely get good value for money.
I help other companies implement OneStream to suit their needs. The thing I love about OneStream is its flexibility and ability to be customized for any industry. I've worked with clients in manufacturing, healthcare, research, and finance, and I have yet to not be able to make OneStream work for them. Unlike some other peer products, it has the ability to handle consolidations for the accounting department and provide the framework for integrated planning and forecasting. With its available solutions (at no additional charge), you are also able to do people planning, capital planning, and more.
Pros
Consolidations
Reporting
Planning/Budget
Forecast
Cons
Ease of security
More customized formatting of reports
Likelihood to Recommend
I don't have any scenarios where I wouldn't recommend it.
