Why are so many Fortune 500 and global enterprise companies migrating to OneStream for corporate performance management? One of the main reasons is because they are not forced to migrate to the cloud or react to the technical limitations of a CPM solution provider.
In this paradigm shift, OneStream adapts to each customer’s needs, not the other way around.
The OneStream XF software platform can be deployed in the cloud, on-premise, or through a hosted set-up. This flexibility allows customers to slowly move their financial, accounting, and business data to the cloud at their own pace, ensuring that each customer receives the most value from using the platform.
If your company started with on-premise or hosted set-up and are now considering or are ready to migrate to the cloud, consider these steps to prepare for the next phase of OneStream upgrades.
1. Understand Why You Should Migrate to the Cloud
Again, when your company is ready to migrate to the cloud, there are many benefits of performing this update. The benefits revolve around the scalability and flexibility of the platform.
For example, if you started with financial reporting and consolidations in Phase 1 of software implementation, you may need to consider an economical solution to support the data requirements for Phase 2 of budgeting, forecasting, and analysis.
Instead of straining your on-premise or hosted resources adding Phase 2, you may consider migrating to the OneStream XF Cloud to host all of your data in a centralized location managed by OneStream.
The OneStream Cloud service leverages Microsoft Azure to provide a secure, reliable, and scalable environment. The benefits include:
- Guaranteed resources and performance
- 3x local redundancy – 7 days worth of back-ups to the minute
- 99.95% uptime guaranteed
- Ability to increase or decrease resources on-demand
- Complete ownership of the data
2. Prepare Your IT Team for OneStream Upgrades
Another important element of preparing for OneStream upgrades is communicating directly with your IT department to manage the change, keeping in mind OneStream upgrades generally only take hours to complete, not days or weeks.
OneStream helps set up the transition by handling the Microsoft Azure Cloud requirements for each customer. Acting as a supplement to the IT team, OneStream handles the application environment in the cloud.
One of the primary benefits of taking this step is freeing up resources from a hosted or on-site environment, allowing IT to support other critical projects. Additional benefits of migrating to the cloud for OneStream XF usage include:
- Server maintenance performed by OneStream
- Additional upgrades on your schedule, not the other way around
- Decreased time and investment to upgrade
- Validated and benchmarked application environments
- Application copies, monitoring, and maintenance as needed
- Database restoration in the event of data issues
3. Consider an Implementation Partner to Support the Transition
Making the transition to the next phase of OneStream usage is designed to be simple for customers. However, it can become difficult without the right approach or full team alignment.
Working with an implementation partner such as HollandParker will ensure that the transition is executed smoothly and that the IT team has full understanding of the change.
As a Platinum level implementation partner, we have tremendous experience helping OneStream customers perform critical upgrades to take advantage of the OneStream XF Cloud option.
Our team of consultants are capable of working directly with all levels in your organization — managers, users, stakeholders, and IT to ensure maximum software usage in a new environment.
When you are ready for the next phase of OneStream upgrades, contact HollandParker to discuss how we can help your organization make a clean transition. We look forward to helping you find the most value from the most modern, unified platform for corporate performance management.