Splash is most definitely the highlight of the year of whomever visits this event. Every time again Splash knows how to combine real thought provoking content with the most outstanding entertainment. We have been happy to be present in both USA and EMEA to present and as a sponsor.
Last May Splash Toronto had to be cancelled. We all know why, but what a loss. Fortunately, one of the most important sessions of Splash, did take place virtually. The keynote of Tom Shea shows what direction they will take with the platform. To spare you some time, we sum up our takeaways. But we would advice to see the whole key note if you can!
Where is OneStream now?
Last year some milestones were reached, OneStream now has 500+ customers, 140+ partners and realized a 50% growth in 2019. They focus on bringing a platform that offers the best consolidation, forecasting and reporting system with a great data quality. On top of that they have been heavily investing in their prime value proposition: OneStream XF MarketPlace. Last year OneStream developed and released the following solutions:
- Predictive Analytics 123
- Scenario Analysis
- Transaction Matching
Looking forward
OneStream totally lets its customers determine the future roadmap of their product. They have been working on a machine learning solution for some time now, as customers ask them to. So what will be the focus points looking forward?
Financial Signalling
This new world we are living in asks for realtime information that can determine how you run your business. However, you don't close your books every day for a reason. OneStream is working towards realtime by making the most important KPI's available with as much frequency as possible. It is possible to leverage the platform for this. Integration with your ERP to access Operational Data is key, OneStream adds Financial Intelligence to this and creates information, day to day, in a dashboard, the way your CFO prefers.
The result is that the Signals will enable you to notice problems sooner based on operational data, deal with them and influence your financial statements in a positive way. Financial Signalling is supported in the Analytic Blend. Taking these Signals over a longer period and you are delivering trends and can act on these trends in time.
Sensible Machine Learning
Customers have been really keen to learn about Machine Learning (ML) and the OneStream development teams have been working on this quite some time. The OneStream XF MarketPLace Solution 123 caters to your team of data scientists to really let it work for you. You'll need to be able to built your own algorithm with the data that is specific to your organisation.
The first product of the OneStream Advanced Analytics Strategy was Predictive Analytics 123, with this solution you can intergrate predictive analytics in your forecasting. The new solution will be Sensible ML, which offers a guided workflow to minimize the cost for customers, as you don't have to be a data scientist to work with it. They expect to be able to give some demonstrations at the end of this year (2020). With these three products in place they cater to any companies' ML needs.
Conclusion
Tom Shea wraps it up with this bouncer: "The house is built and now we're decorating and throwing a party." The core stands and now they are extending the platform with all customer focused enhancements that makes it more fun and appealing.
As one of the earliest OneStream adaptors, we are proud to see where they have come from and are working towards the future. It's great to hear how their product development initiatives are customer focused and customer comes first. We recognize our own way of working in this approach.
Are you ready to discover how you can implement this in your organisation?
