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OneStream Software is a Leader in Gartner Magic Quadrant
OneStream sells its OneStream XF Cloud offering (which uses Microsoft Azure) with an option to deploy it in a customer-controlled public cloud. As a unified platform, OneStream XF Cloud supports budgeting, forecasting, performance reporting, analytics and the financial close process. The vendor focuses on selling to large, complex enterprises. Most of its customers are based in North America and the rest mainly in EMEA.
Development plans include enhancements to the user experience and the back-end cloud infrastructure for on-demand or autonomous cloud elasticity and continued development of advanced predictive analytics, ML and data-blending capabilities.
Strengths: Product Capabilities
Customer survey respondents scored OneStream very highly in six out of nine product capability categories, including ease of use, complex financial budgets and plans, integrated financial planning, management reporting and analytics. OneStream has consistently demonstrated its ability to satisfy the needs of large, complex organisations. This year, 80% of the OneStream customers we surveyed had more than $1 billion in annual revenue and 10% had more than $10 billion.
Strengths : Customer satisfaction
OneStream scored very highly for overall experience, meeting needs, and “meeting overall customer needs versus money spent”. All of OneStream’s surveyed customers would recommend it without qualification.
OneStream XF platform: Many OneStream customers identified the single XF platform and common user experience for all of the solution’s capabilities as a significant benefit. Customers also noted that OneStream-developed solutions on its XF MarketPlace are included in the platform licensing, as well as the ability to purchase third-party developed solutions for purpose-built processes.
Cautious: Geographic focus
Approximately 64% of OneStream’s cloud customers are in North America. It has also penetrated EMEA significantly with some recent large-company wins, but customers seeking strong support outside these regions should scrutinise the vendor’s service levels and request references from companies of similar size in the same industry.
Product licensing: OneStream charges for a named-user license for OneStream XF Cloud and imposes separate fees for XF Cloud services. These service fees may increase as the number of users increases, which may make it difficult to predict overall costs as usage expands. Customers that run XF Cloud in their own public cloud are not subject to the service fees, but must take responsibility for ensuring compliance and internal control standards.
OneStream again scored in the lowest quartile for time to implementation. This is partly because it sells to large, complex organisations that often implement financial close and planning procedures together, but also have use cases that involve more change management risk.
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