At the beginning of the decade, McKinsey & Company released a report capturing the opportunity to transform Finance by 2030. The report highlights four critical objectives for Finance organizations to achieve:
- Identify opportunities for efficiencies, moving beyond transactional activities.
- Get better at managing data and controlling the flow of information.
- Enhance decision-making through data visualization and advanced analytics.
- Re-think the finance operating model to develop new skills and capabilities.
These objectives boil down to increasing time spent on value-added functions and decreasing time spent on traditional transaction-processing activities typical for Finance organizations.
Unfortunately, many Finance teams have fallen behind on performing more valuable functions due to dependence on manual processes, Excel spreadsheets, and outdated software platforms. This is why now is the time to select an Enterprise Performance Management (EPM) platform to support your organization’s journey to achieving these critical objectives.
Let’s examine how to select the ideal EPM platform to help you leap forward in 2022.
Qualities of the Ideal EPM Platform for Finance Organizations
Many organizations are seeking an alternative to legacy EPM platforms such as Oracle Cloud EPM and SAP EPM. These platforms have fallen behind and no longer meet the needs of modern Finance. We encourage Finance organizations to look for other platforms based on these characteristics:
- Quality of integration and deployment
- Service and support
- Product capabilities
- Implementation time
- Time to value
In fact, Gartner recently published a list of EPM platforms that can replace Oracle Cloud EPM. The comprehensive list of alternatives captures how Oracle EPM compares to the competition, helping organizations determine the best platform for their needs.
Among all competitors, one stands out as heads and shoulders above the rest. The OneStream intelligent finance platform scored 4.9/5.0 from real customers, surpassing SAP, IBM, and other vendors.
The 4.9 score was based on how OneStream fared across several different categories. Grabbing a near-perfect score captures how well-rounded OneStream is to support the needs of its clients. We will further explain how OneStream will enable your organization to achieve the key objectives outlined for this decade to transform Finance.
Why Migrate to OneStream to Transform Finance?
OneStream is built to automate traditional Finance tasks that have slowed down organizations for decades. The platform eliminates manual, repetitive tasks through automation, enabling leaders to spend more time on value-add activities.
One of the ways this is achieved is through the platform’s ease of use. One customer review on the Gartner website captures this benefit:
“The amount of time it takes to explain and demonstrate the application to someone so they can jump into it is minimal. Navigation is logical, and workflow has really improved our close process. Between workflow and validation rules, the quality of our data has been greatly improved.”
Additionally, this same customer highlighted the quality of OneStream customer support, the speed from planning to implementation to going live, and other qualities that you should look for when selecting a new EPM platform.
The customer specifically pointed out these reasons why their organization made the right decision migrating to OneStream:
- Strong customer focus
- Access to a product roadmap and future vision
- Exceptional product functionality and performance
- Stellar product support
Instead of just another organization waiting in line for support from larger EPM vendors, you become a valued member of the OneStream ecosystem. This is the partner you want running alongside you!
Consider how OneStream can help you achieve the key Finance objectives this decade:
- Conquer complexity, replace spreadsheets, and eliminate manual processes so that Finance can lead at speed.
- Unify planning, financial close & consolidation, reporting, and analytics in one solution.
- Empower your organization with financial insights to support faster, more confident, and more informed decision-making.
- Prepare for growth utilizing a platform designed to scale with your organization continually.
- Utilize OneStream training resources to grow your team’s capabilities and skills to maximize the value of your investment.
Find Out More About Getting Started With OneStream
There is only one EPM platform that checks every box for modern Finance. We encourage you to find out more about why OneStream is the right fit for your organization, and we can help.
As a Diamond OneStream Implementation partner, HollandParker is one of the leading OneStream partners in North America. And, we are the only Diamond partner that is 100% dedicated to OneStream implementation.
What does this mean? It means that we understand how to accelerate your migration to the OneStream platform through our proven implementation framework and proprietary project accelerators. We can help you make the change with minimal disruption while reducing time to value so that you can start to realize the benefits of OneStream immediately.
To find out more about why OneStream is the ideal EPM platform for Finance organizations, reach out to us today to schedule a consultation. We would like to spend some time with your team to explain the power of OneStream!