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OneStream XF Cloud focuses on digital finance transformation

by Mike Jones in OneStream 15/10/2019

OneStream Software, a global leader in corporate performance management (CPM) solutions for mid to large businesses confirmed that approximately 75% of new customers in the last year have selected the OneStream XF Cloud solution, supported by Microsoft Azure.

Customers include AFL Global, Terex Corporation and Steel Dynamics, businesses migrating from traditional on-premise finance systems to the cloud-based OneStream XF cloud solution.

Tom Shea, the CEO of OneStream Software explains that their integration with Microsoft Azure delivers a modern and trusted digital landscape for OneStream customers. Shea highlights that OneStream is leveraging the intelligent data security system of Azure, the flexible scalability and quick time-to-value benefits to generate a unified, large scale cloud CPM platform.

Shea reiterates that larger businesses require a system that won’t impact capability or performance when moving to the cloud. The OneStream XF Cloud platform incorporates Microsoft Azure Active Directory, Azure SQL Database and Azure Key Vault, along with several industry-focused regulatory requirements. Lani Phillips, the VP of Channel Sales at Microsoft believes that OneStream software allows businesses to modernise their finance systems and simplify the move to the cloud with Microsoft Azure. Phillips believes that for financial professionals, OneStream XF Cloud is a singular and cost-effective option compared to the traditional CPM platforms offered by Oracle, SAP and IBM.

Moving multiple systems to a single OneStream XF cloud platform powered by Azure supports businesses in accelerating financial close, planning and reporting processes and providing further insights into key data to create better business decisions.

The OneStream XF market offers a number of solutions that expand beyond the original platform to support other requirements including account reconciliations, tax processes and capital planning. Hundreds of businesses worldwide are now using OneStream XF to enhance finance and support finance digital transformation strategies.