Cloud computing is clearly becoming the preferred deployment approach for most corporate applications. While Sales, Marketing and HR departments jumped in first, Finance departments have been a little slower than others in adopting cloud-based applications. Various market surveys estimate cloud adoption at roughly 15 - 20% for corporate performance management (CPM) applications. However, Gartner is predicting that by 2020, 80% of large and 25% of midsize organizations will have adopted cloud-based Financial CPM solutions to replace legacy on-premises systems and manual processes.
While the market is rapidly-shifting to cloud-based deployments for budgeting, planning, forecasting, consolidation, reporting and other applications – there are clearly some organizations who are not ready to put their valuable financial data and applications in the cloud.
So what’s an organization to do if Finance executives want to adopt the most modern software applications, yet they are not quite ready to embrace the cloud due to IT policies, or concerns about privacy, compliance or control? The answer – partner with a software vendor who offers both on-premise or cloud deployment options – and a smooth migration path to the cloud.
Modern Software Delivered On-Premise or in the Cloud
One vendor who offers a modern CPM software solution that can be deployed on-premise or in the cloud is OneStream Software. OneStream provides a revolutionary CPM solution that unifies and simplifies financial consolidation, planning, reporting, analytics, and financial data quality for medium to large enterprises with sophisticated requirements. Delivered via the cloud or on-premise, OneStream XF is the first and only solution that delivers corporate standards and controls, with the flexibility for business units to report and plan at additional levels of detail without impacting corporate standards – all through a single application.
OneStream also offers the XF MarketPlace, which features downloadable solutions that allow customers to easily extend the value and familiarity of their CPM platform to meet the changing needs of finance and operations.
A key focus of OneStream is on addressing the needs of medium to large organizations with sophisticated requirements and large user populations. Delivering on this focus requires a software application that embraces modern design principles. It also requires the use of elastic hardware and database infrastructure to scale up and support surging user demand, when needed.
Microsoft Azure Cloud – Elasticity On-Demand
For cloud deployments of our OneStream XF application, we have chosen one of the foremost platforms in the cloud space, the Microsoft Azure® Cloud Platform. It’s a seamless technology stack which provides computing capacity on-demand. That means customers only pay for what they need, yet it retains almost 100% uptime. The addition of 64-bit, in-memory processing, multi-core processing, and the ability to re-size the environment within minutes also means the platform can respond to the most demanding requirements.
Using Microsoft Azure allows us to leverage modern cloud database technology, the Microsoft SQL Azure database, which enables both infinite and intelligent scale. The ability for servers to automatically recognize demand - and scale to meet that demand - changes everything.
This approach enables OneStream to deliver a SmartCPMTM platform, on a smarter cloud, one that is “built for the burst” and that can expand and contract hardware resources and scale up or down to meet the increased or decreased demand automatically and intelligently. That is exactly what the Microsoft SQL Azure database enables. This cloud is smarter and more responsive than any standard data center can dream of. Applications today can leverage the infinite and expandable resources afforded through the fabric of the Azure cloud.
World-Class Reliability and Backups
When things go wrong, wouldn’t it be great to be able to restore your system to the minute going back 35 days? Done! Microsoft SQL Azure automatically backs up your system every minute, for 35 days so you never have to worry about having to go back to square one should something go wrong. In addition, Microsoft SQL Azure automatically delivers 3X geographic redundant backups, every hour, to provide the insurance needed in the remote case of a catastrophic event.
Top Security for Your Most Sacred Data
What about security? With Microsoft Azure Cloud SOC 1, SOC 2, FedRAMP, HIPPA and virtually any other US or International security certification is just there. No one invests in security like Microsoft.
Our single-tenant SaaS approach coupled with Microsoft’s security means that your data is segregated naturally and not contaminated with all other customer data in a single attack. With integrated Azure AD SSO multi-factor authentication and your own VPN security, this cloud offers the security that you need to rest easy.
Advantages for Customers
As highlighted earlier, while the cloud is becoming the preferred deployment model for business applications, not all organizations are ready to make the leap. OneStream Software is one of the few vendors who enables customers to “have it your way”, offering the same CPM solution via on-premise or cloud deployment. The software can be deployed in an on-premise data center and then migrated to the cloud, or it can stay on-premise forever and customers will continue to receive enhancements and high-quality support.
Running OneStream XF Cloud provides several advantages to our customers.
- A basic advantage of running in the cloud is the ability to leverage third party infrastructure and IT resources to deploy and support your CPM applications. This reduces IT costs and allows organizations to allocate their IT resources and staff to other projects.
- Selecting OneStream XF Cloud provides a unified, SmartCPM solution that often replaces multiple legacy applications for key processes – budgeting, planning, forecasting, consolidation, reporting and data quality. This unified approach reduces costs related to licenses, implementation, maintenance and upgrades.
- In addition, leveraging Microsoft Azure, OneStream XF Cloud provides a smarter cloud with “built for the burst” capabilities and 64-bit processes that provides high performance through surging user demand during month-end close, budgeting season, or quarterly forecasting.