OneStream vs. Hyperion: The Decision is Easy
If your corporation or organization is using Oracle Hyperion, there is a better alternative to this outdated legacy software solution. OneStream is a proven alternative to Hyperion and is quickly becoming the leading corporate performance management (CPM) provider in the industry.
Use of the OneStream XF software platform is on the rise, as large corporations are discovering its superior capabilities for managing the accounting, finance, and business needs for their global business units.
Consider this comparison of OneStream vs. Oracle Hyperion. As a decision-maker in your company, you’ll see why we are recommending the switch.
OneStream vs. Hyperion: Ease of Use
Perhaps the most compelling argument for OneStream is ease of use. Oracle Hyperion is not touted as a customer-friendly software solution. Rather than having Oracle force your enterprise business to adapt to its software, wouldn’t you rather the software adapt to your needs?
You’ll find that capability with OneStream. The software is built to adapt to each customer’s unique needs, whether for reporting and analysis, financial planning, or consolidation management.
OneStream vs. Hyperion: The Deployment Options
Ease of software deployment is a major factor in any solution rollout. A misaligned rollout can be costly to your business.
Unfortunately, Oracle Hyperion is encouraging all customers to work in the cloud. However, many global entities are not prepared to fully re-implement in the cloud, and an upgrade for on-premise is only a quick fix until Oracle ends support support for this deployment option. Therefore, for many organizations, it’s decision time.
Conversely, OneStream offers multiple software deployment options, including cloud, on-premise, and hosted — depending upon what works for your business. The benefit is that once you make a deployment choice through OneStream, making a change later does not require re-implementation, unlike Oracle.
OneStream believes that organizations should have options when deploying CPM applications — both for the benefit of the users (finance, accounting, and business teams) as well as the back-end support IT team. You get that flexibility with OneStream.
Each organization determines which deployment option is the best fit. With expert advice, you can choose the way you deploy your unified OneStream platform.
After deployment, the system will perform to your expectations and your corporate data will remain secure. And, OneStream can provide additional solutions as needed, including tax, profitability, cost analysis, account reconciliation, close management, and workforce planning – all with no additional software to purchase or install.
This creates an incredible advantage for your organization, as your business units will have operational independence while at the same time reaping the benefits of a unified solution.
Perhaps the best part is that OneStream allows you to leverage your existing investment in Hyperion when migrating to their new platform. The conversion to OneStream is easy for Oracle Hyperion Enterprise, Oracle Hyperion Financial Management, Oracle Hyperion Financial Data Quality Management, and Oracle Hyperion Planning and Essbase.
OneStream vs. Hyperion: Software Integration
The ability to fully integrate all aspects of your business accounting and finance operations keeps your organization running smoothly and your costs under control.
Unfortunately, because Oracle Hyperion is an outdated software solution for many customers, it does not integrate well with many other software solutions that are on the market today.
OneStream was built from the ground up to ensure that all of your business, accounting, and finance aspects are unified in one platform.
The unified platform contains planning and analytics as well as financial consolidation to keep your business agile and adaptable to changing market conditions. The software also reduces your total cost of ownership, something no longer possible with Hyperion given the multiple products required for implementation.
Indeed, this is the key difference between the two software solutions: OneStream eliminates the need to build, install, integrate, learn, and maintain multiple applications. OneStream also utilizes a central data repository and Extensible Metadata to manage your business processes.
The result is eliminating both the cost and the risk of having to manage and upgrade fragmented CPM applications. Even better, OneStream is cloud-ready when you are.
OneStream vs. Hyperion: Customer Service When You Need It
There is nothing more frustrating than not being able to find help for your CPM solution when you need it. Oracle has become a gargantuan corporation with multiple layers of support teams that make it difficult to find answers to common issues.
OneStream is different. They value each customer and strive to build a relationship with each organization to support their ongoing needs well after software implementation is complete. Additionally, OneStream designed a world-class customer service portal to offer real-time support.
The Answer is Clear: OneStream for Modern CPM
HollandParker is a Platinum OneStream implementation partner that works with Fortune 500 companies and other largescale global enterprises.
In the beginning of our company, we implemented Hyperion. But, we saw the market shift and moved away from Hyperion to OneStream. Now, we only implement OneStream XF software, and we excel at it.
Modern businesses need the CPM capabilities that OneStream has to offer, and for these reasons, we recommend a transition away from Hyperion so that you can achieve your business objectives to remain competitive.
In summary, OneStream offers several key benefits for organizations:
- Powerful financial consolidation and reporting at your fingertips.
- A unified platform that incorporates budgeting, forecasting, and more.
- Simple installation and upgrades with no additional IT/finance staff needed.
- Low Total Cost of Ownership (TCO).
- Extensible Platform to collect all your data management needs.Guided workflows for various end user solutions.
- Transparent processes.
- Audit trails.
- On-premise, cloud, or hosted deployment.
If you are a financial, accounting, or business executive who is tired of working with Hyperion, contact HollandParker to discuss OneStream as the CPM alternative for your business. The change is worth it.