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OneStream XF in Real Life

As we mentioned before OneStream XF, as an Enterprise Performance Management platform, is taking over the EPM market. This new solution is stated as the XF Market Place. Why is the XF Market Place one of the main systems that differs OneStream XF from other EPM solutions, which are now available? Another question is how to get the most benefits of this Market Place. Marc Roest, our experienced EPM consultant, dives into the details of Market Place solutions. Please see below Marc’s honest experiences as an independent consultant.

There’s a lot to discover about OneStream XF Market Place. This blog is only the beginning. In a series of blogs, Marc Roest will dive into the OneStream XF new releases, opportunities and details.

The difference of OneStream XF

The way earlier generations of EPM systems allowed experienced users or consultants to customize the way the system is operated (including the possibility to write scripts) makes the earlier EPM systems powerful. The standard functionality of the tool allows the user to adjust the product to their wishes. However, the scripting possibilities was limited and only available from specific parts of the tool. The founders of OneStream took a different approach. They build a complete platform in Microsoft VB.Net, an available object-oriented programming language that is not that hard to learn. It is comparable with writing a macro in Excel. Once you know how to set up this, you’re halfway there.

But then the first question stands up: If the system is so open, lots of consultants would be needed or there will be a high risk that the system will become a real mess? To prevent this, OneStream created the XF Market Place. This is an online ‘store’, where lots of apps can be downloaded as done on a smartphone. These apps work smoothly within the OneStream platform. OneStream XF Market Place is completely built within OneStream. This means that the Market Place is online available for as well customers as partners.

The XF Market Place as a helpful tool

The XF Market Place enables the user to select exactly those apps that will help you to streamline the desired financial processes. Whether it’s IFRS16, resource planning or standard administrator utilities, an app can be downloaded with the required functionality.

Marc Roest: “To be honest, the XF Market Place is one of the features I really like about OneStream XF.” Marc Roest has been working with EPM solutions for many years, both as a user and a consultant. “I have learned to value being able to choose those options that are just right for your situation.”

Working with OneStream XF Market Place

Working with OneStream XF Market Place is extremely easy. It is similar with downloading apps on a smartphone. After logging into the Market Place, Software has to be selected. In this section the latest release of OneStream software, documentation, reference material (containing sample applications) and standard (system) reports can be downloaded.

To access the Market Place, go to Store where you find the different solutions available. These are sorted by most downloaded and latest updates. Via the search button on the right the apps can also be found as the solution category pull down menu can also be used.

When accessing a solution always three tabs are presented:

  • Overview: showing a short description about the selected Market Place solution.
  • Screen Shots: containing one or more pictures showing the Market Place solution.
  • Setup Instructions: documenting the details about setting up (and using) the selected solution.

A note of warning: when you start using a Market Place solution, the best approach is to download the documentation first, because it contains version updates. Therefore, downloading the document ensures that your documentation applies to the version of the solution that you are going to use.

Level of Market Place apps

Marc Roest would divide the currently available Market Place solutions into three levels:

  • Plug and play: Solution can be downloaded and installed by an admin and will run instantly with a maximum of 1 hour of configuration.
  • Admin configurable: Solution can be downloaded and installed by an admin and will run with a maximum of 8 hours of configuration.
  • Minimum viable product: Solution needs to be configured by a consultant and/ or needs significant adjustments in the scripts.

These levels enable the user to consider the amount of configuration needed to implement the solution against the features this solution will bring you. The division can help to decide which app suits your preferences best. It also makes planning the amount of consultancy needed easier.

Developments

Back in the days, the Market Place contained solutions created by OneStream developers. They were available for free to customers and partners of OneStream. Nowadays the market is available for a selected number of partners. Marc Roest: “I expect that the number of partners will grow soon, leading to a rapid grow in the number of available solutions. The question is, will the apps continue to be free of charge? The current statement by OneStream is that all applications made available by OneStream will remain free. It is, however, not yet clear how and whether partner solutions will be charged to customers or not.”

A short description for each solution (latest solution details report) is available to get an overview of all currently available Market Place solutions. Via Reporting in the Links menu from the Market Place this report can be accessed.

Why another OneStream blog?

Marc Roest has been working with EPM software for many years. Both as a consultant and as a customer. His focus used to be Hyperion, starting with Hyperion Enterprise, HAL, Essbase and later FDM and HFM. He always gathered a lot of knowledge from the various blogs available online. Both as a starter and in the end as an experienced technical consultant he could find new knowledge online.

Now, there are a few blogs available about OneStream, but Marc Roest thinks that most of them are a bit ‘commercially tinted’. As he is new to OneStream but has a lot of experience with EPM software solutions, he thought this would be a good time to begin a ‘start-level’ blog that will eventually become more technical. The main objective is to share knowledge and experience about the possibilities within the OneStream platform, with a focus on the OneStream XF Market Place.

Any questions or suggestions for a Market Place solution you would like to read about? Don’t hesitate to contact us by using the button below.

 

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