CAFL Global, Steel Dynamics and Terex among growing list of customers migrating multiple legacy finance systems to OneStream’s unified platform and Microsoft Azure
September 24, 2019 06:11 AM Eastern Daylight Time
ROCHESTER, Mich.--(BUSINESS WIRE)--OneStream Software, a leader in Corporate Performance Management (CPM) solutions for mid-sized to very large enterprises, announced that 75% of new customers in the past 12 months have chosen its OneStream XF Cloud solution, powered by Microsoft Azure. AFL Global, Steel Dynamics, Inc., and Terex Corporation are among a growing list of enterprises migrating multiple legacy on-premise finance systems and cloud-based point solutions to the unified OneStream XF Cloud solution.
“Our integration with Microsoft Azure provides a modern and trusted digital foundation for OneStream customers. We leverage Azure’s advanced data security, infinite and flexible scalability and rapid time-to-value advantages to deliver the only truly unified, comprehensive, enterprise-scale cloud CPM platform in the market today. Large enterprises don’t want to compromise on capability, usability, scalability or performance when they move to the cloud and with OneStream XF Cloud on Azure they don’t have to,” said Tom Shea, CEO of OneStream Software.
The OneStream XF Cloud solution integrates Microsoft Azure Active Directory, Azure SQL Database and Azure Key Vault in addition to supporting a wide range of international-, country- and industry-specific regulatory requirements including FedRAMP. These are core features that enterprises seek in cloud solutions for the office of finance.
“OneStream Software enables organizations to modernize corporate finance and ease the transition to the cloud with Microsoft Azure,” said Lani Phillips, VP of Channel Sales at Microsoft Corp. “For financial systems and CFOs, OneStream XF Cloud is a unified and cost-effective alternative to upgrade legacy CPM ‘suites’ from Oracle, SAP, IBM and others.”
Digital Transformation of Finance
Migrating multiple systems to a single OneStream XF Cloud platform powered by Azure helps organizations accelerate financial close, planning and reporting cycles and provides deep insight into financial and non-financial data to support better business decisions. The OneStream XF MarketPlace provides purpose-built solutions that easily extend the platform to address additional requirements such as account reconciliations, lease accounting, tax provisioning or people and capital planning.
Hundreds of large organizations globally are using OneStream XF to modernize finance and drive their finance digital transformation strategy. AFL, Steel Dynamics and Terex each replaced multiple legacy CPM applications with OneStream XF Cloud on Azure and have seen significant benefits.
“With AFL’s rapid growth, we recognized the need for a corporate finance platform that could handle our complex environment while also offering us the ability to adapt to changes. After a successful on-premise implementation, AFL moved to OneStream XF Cloud powered by Azure. No new implementation was needed and within a few hours, AFL completed an application upgrade. The consolidation process that previously took hours now takes only minutes. In addition, OneStream offers full budgeting and forecasting capabilities along with superior cash-flow reporting and a solution for account reconciliations that replaced our previous account reconciliation solution,” said Pam Brady, global financial business analysts, AFL.
“The reason that we selected Azure to migrate to the cloud is that we wanted to allow our IT department to work on other items rather than just managing the infrastructure for financial consolidation. This allows us to take full advantage of the OneStream XF platform for strategic functions. At the end of the day, we're very happy that with OneStream XF and Azure, our corporate accounting team can control our own destiny rather than relying on IT to do everything,” said Kyle Kohne, project manager, Steel Dynamics.
“The OneStream XF Cloud platform powered by Azure has provided significant cost savings and opportunities throughout the organization. Terex replaced multiple systems and manual efforts with a single, unified solution that handles consolidations, reporting, budgeting and planning and can be extended to address additional needs going forward. The new system has reduced consolidation times and significantly improved our budgeting and forecasting processes by aligning our detailed business plans with financial goals,” said Jon Paterson, VP FP&A, Terex.
Learn more about OneStream at www.onestreamsoftware.com
About OneStream Software
OneStream Software provides a modern Corporate Performance Management solution that unifies and simplifies financial consolidation, planning, reporting, analytics and financial data quality for sophisticated organizations. Deployed in the cloud or on-premise, OneStream XF is one of the first and only solutions 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.
The OneStream XF MarketPlace features downloadable solutions that allow customers to easily extend the value of their CPM platform to quickly meet the changing needs of finance and operations. OneStream was named to the 2019 Inc. 5000 as one of the top 700 fastest-growing companies in North America.