ROCHESTER—OneStream Software LLC, the Rochester-based developer of corporate performance management software for midsized and large organizations, announced the launch of version 5.0 of its SmartCPM product.
The company said the software employs environmental sensors and intelligent bots that deliver significant scalability and performance improvements through smart load balancing of key processes and tasks across servers in both on-premise and cloud deployments. Other key features include enhanced analytical capabilities to enable better decision making and local language capabilities for users in global deployments.
“This latest generation of our OneStream XF platform is a quantum leap forward with scalability and performance improvements that will allow us to continue tackling the most complex consolidation, reporting and planning requirements of the world’s largest organizations,” said Tom Shea, CEO for OneStream Software. “This release lays the foundation of our X-Scale initiative that makes our SmartCPM platform even smarter—enabling companies to take advantage of the infinite potential of the cloud, and to intelligently scale up and down capacity to match peaks and valleys in user demand during crunch periods.”
“Larger enterprises that have decided to move any of their statutory consolidation, planning, budgeting, forecasting and reporting to the cloud from on-premise must validate that the software they are considering will meet both their current and future requirements for functionality, scalability and performance,” counsels Robert Kugel, Senior VP and Research Director at Ventana Research. “OneStream XF is a unified performance management software platform that is used successfully by some of the largest global enterprises. Its 5.0 release is designed to address the needs of large enterprises that have the most demanding functional and performance requirements.”
OneStream XF 5.0 boosts performance and increases scalability to help large enterprise companies meet complex planning and reporting needs, often across multiple geographies. The new platform uses a broad set of environmental and process sensors and performs smart load balancing with ‘intelligent bots’ that route tasks to servers with available capacity based on live system data. The intelligent bots are able to prioritize large tasks, such as consolidation, and assign them to a dedicated server that keeps other resources free and available for other important tasks. This boosts overall performance and maximizes productivity.
This latest platform includes reporting and analysis improvements such as conditional formatting and improved ad hoc analysis capabilities via the Excel Quick View interface that will allow companies to make faster, more informed decisions.
OneStream XF 5.0 includes new local language capabilities to accommodate global deployments. A new reporting alias feature enables the display of accounting and reporting data in multiple languages based on each user’s preference. Local language support has become a priority as the number of OneStream users expands and as multinational companies seek to bring finance and operational users enterprise-wide onto a single CPM platform.
“A majority of our customers have migrated from legacy systems, such as Oracle Hyperion and many had multiple disparate systems, and large user populations in place before coming to OneStream. The new local language capabilities of OneStream XF 5.0, enabling a personalized experience for reporting in everyone’s native language, will help to drive broader acceptance and usage of our platform. This in turn results in greater efficiencies, stronger collaboration and streamlined financial processes,” said Craig Colby, CRO for OneStream Software.
OneStream XF 5.0 is available immediately to new and existing customers. This includes both cloud and on-premise versions of the platform. For more information, contact your local OneStream Software representative or visit our web site and request a demonstration at www.onestreamsoftware.com.
OneStream achieved record profitability and 137 percent year-over-year software growth in 2018. The company also recently finalized its first external investment from KKR, bringing the company’s valuation to over $1 billion.