One of the biggest challenges for global organizations is introducing a new way of doing things. Whether it’s a new HR process or a new solution for Corporate Performance Management (CPM), change is difficult to execute across the enterprise.
OneStream understands. For organizations that are ready to migrate from legacy EPM/CPM solutions such as Oracle Essbase to the modern OneStream XF software platform, the implementation process is very well-organized.
A Unified Platform Leads to a Unified Implementation Process
OneStream built their software platform from the ground up to unify all financial and business processes in one extensible platform.
This means no more dependence on Oracle Essbase for financial reporting, a different legacy application for financial planning, and Excel spreadsheets for budgeting and forecasting.
The OneStream XF platform unifies all of these processes to deliver financial consolidations, reporting, budgeting, forecasting, and data analytics in one location.
The question for global organizations is deciding which processes to prioritize. Then, the prioritization dictates how the implementation process will unfold in a clear, unified approach.
Which Financial Processes Are The Most Critical?
If you are migrating from Oracle Essbase to OneStreamXF, your organization might start with financial consolidations and reporting. Why?
As we outlined in this article, OneStream XF uses virtual cubes that provide a logical view of financial data. Because financial consolidations and reporting is typically the most critical aspect of financial management, you want to create this top-level cube view that can be extended to other views.
Then, you can build on this view to create additional views for budgeting, forecasting, and data analytics.
How is this executed? When we strategize a OneStream implementation project with each organization, we typically break this process into multiple phases.
– Phase 1: Financial Consolidations and Reporting typically takes several months. The actual implementation timeline depends on the size of your organization and the complexity of your close process..
We also take time for testing, feedback, training, and post-implementation evaluation to validate the usability of the OneStream XF software platform in your organization.
– Phase 2: Budgeting and additional financial processes typically take several weeks. This implementation phase leverages actuals from Phase 1, and can reduce the amount of time required to implement.
We help organizations by creating additional cube views, building on previous training, and implementing additional solutions from the OneStream XF MarketPlace to support specific financial processes.
This overall implementation process leads to desired outcomes using the OneStream XF software to support each critical area of financial management.
Work With HollandParker for OneStream Implementation
When our CPM consulting firm works with a customer transitioning to OneStream, we can create as many virtual cubes as necessary to support your unique requirements.
Unlike Oracle Essbase, which is limited by physical cube views that require constant updates to the underlying data, OneStream was built to centralize all of the data in one location. Then, users can continue to build multiple virtual cube views to make the data come to life in a powerful way.
That’s why the OneStream XF platform is desired by global organizations that want an extensible CPM platform to use data for intelligent decision-making across the enterprise.
Because of the extensibility of the OneStream platform, we have the flexibility to unroll these views in each implementation phase. We’ll work with your team to prioritize the most important views, then build on each view in the succeeding implementation.
As a Platinum OneStream implementation partner, we would appreciate the opportunity to discuss our industry-leading implementation process. To find out more about our OneStream implementation process for your specific organizational needs, contact our team today.