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Skills shortages and the challenges for businesses using data analytics

OneStream enhances platform with improved governed analytics system

by Mike Jones in OneStream 23/10/2019

New analytical system combines financial and operational data together to enhance business insights.

Leading corporate performance management solutions business OneStream has revealed its latest release of the OneStream XF platform. The new release includes an innovative analytic blend capability that enables businesses to efficiently combine operational and transactional data with reliable financial information already established within the OneStream XF platform.

Tom Shea, the CEO of OneStream Software explains that finance is consistently being requested to be more of a strategic partner in business. Most CPM platforms are relatively limited in their capability to manage large volumes of complex financial, operational and transactional data within one place. The Analytic Blend provided by the update enables a finance business the ability to combine all data and utilise all of the financial intelligence available within the XF platform. The enhanced analytics system means reduced reliance on other BI tools and improves overall governance and security.

Analytics and Business Intelligence are key emerging areas for businesses actively looking to digitally transform their finance activities. As finance continues to innovate, finance teams require solutions that offer detailed information into finance and operations, with the capability to share this data efficiently with other business members. The Analytic Blend, combined with self-service dashboards and analytics allows finance professionals to have all the data they need to create insightful decisions within a secure environment. In the 2019 Wisdom of Crowds research by Dresner Advisory Services, the leading 5 BI initiatives included reporting, dashboards, data visualisation, data integration, and end-user self-service. The study indicated an increased focus on collaboration and governance, where users can efficiently create and share insights with other business members. Finance teams are actively seeking for systems with governance and analytics features to enable wider integration of BI and analytics within their business. 

The new and improved BI dashboards offered by OneStream will make it simpler for finance and business analysts to quickly develop visual data on critical business areas for business leaders to use to make informed decisions.

The new analytics, BI and data visualization features are all available as part of the next release of the OneStream XF platform. The upcoming webinar ‘Taking Data-Driven Decision Making to the Next Level with Governed Analytics’ taking place on October 29th will provide further insight into the new system.