Finance
OneStream Builds on Applied Finance AI Solutions, Expands Innovations to Core Finance with OneStream Navigation Center and more | OS Stock News
OneStream AI-Powered Anomaly Detection, Scenario Modeling, other expansions to Microsoft partnership and Solution Exchange announced at OneStream Splash EMEA
COPENHAGEN, Denmark, Sept. 18, 2024 /PRNewswire/ — OneStream (NASDAQ: OS), the leading enterprise Finance management platform that modernizes the Office of the CFO by unifying core finance and operational functions – including financial close, consolidation, reporting, planning and forecasting, today announced at OneStream Splash EMEA a series of new developments, including AI Anomaly Detection, OneStream Navigation Center, among others, that build on its Sensible AI Portfolio and core finance innovations announced in May.
“As economic volatility and evolving regulations continue, CFOs are being asked to do more than report on the past and need the technology and skills to strategically guide the business,” said Tom Shea, CEO, OneStream. “We are pioneering the digitalization of core finance. This news is a testament to our leadership and focus on building purpose-built, AI-powered solutions that address the needs of today’s Finance leaders.”
Sensible AI: Purpose-Built for Finance
The OneStream Sensible AI portfolio, announced in May, is a set of packaged AI solutions that address pertinent needs of Finance leaders. They include Sensible ML, Sensible GenAI and Sensible AI Library forecasting and scenario planning. OneStream previewed the following AI capabilities added to this Sensible AI portfolio:
- OneStream AI-Powered Anomaly Detection capability is part of the OneStream Sensible AI Library, the AI Anomaly Detection capability is a pre-packaged AI method that helps Finance leaders detect anomalies for data cleansing and reporting. By scanning thousands of transactions to detect unusual patterns or outliers, AI Anomaly Detection can uncover unexpected or duplicate entries, enabling Finance teams to quickly investigate and correct issues before the final close. This capability is currently of limited availability.
- OneStream Sensible Machine Learning (ML) Scenario Modeling capability builds on the initial OneStream Sensible ML solution and creates real-time, AI-driven “what-if” forecasting scenarios using a company’s own enterprise information across operational and financial workstreams. Finance teams can isolate key business drivers, such as changes in interest rates, inflation, gas prices, new product introductions and plant shutdowns, and validate the scenarios and test their impact across forecasting, operational planning, workforce planning, sales planning and other areas.
Digitizing the Office of the CFO
In May, OneStream announced several innovations focused on digitizing core finance, including expanding its partnership with Microsoft with OneStream Certified Power BI Connector. This week, OneStream previewed a series of new innovations to make it easier for Finance leaders to deploy, report and consume financial reporting.
- OneStream Navigation Center streamlines access to reports and bookmarks critical audit and narrative documents, in one place. This solution enables Finance leaders to easily organize, tag and bookmark frequently used documents, audit reports, and set due dates for key tasks such as report reviews, deadlines and submissions. Users can also set due dates to ensure they are reviewed and ready for handover to auditors.
- Microsoft Excel Enhancements make it easier than ever to copy, modify and analyze powerful data from OneStream with the commonly used tools in Microsoft’s Excel environment.
- Expanded Solution Exchange to Support Tax Pillar 2. To support the evolving needs of global organizations, the OneStream Solution Exchange has expanded its capabilities and solutions, welcoming its 100th solution at Splash EMEA. Solutions now include BDO/ Inlumi and AMCO partnership to support Pillar 2 tax criteria. From account reconciliations, workforce planning, and transaction matching to AI-powered solutions, such as Sensible Machine Learning and InfinitySPM Sales Performance Management, the Solution Exchange extends the utility of the OneStream Platform to meet current business needs while also adapting to future requirements.
OneStream Splash EMEA brings together Finance leaders and experts within the Office of the CFO for three days to explore how Finance leaders can go beyond just reporting on past performance towards steering the business to the future.
OneStream Splash is sponsored by OneStream global System Integrators, implementation, development and technology partners, including the following:
- Global System Integrators: PwC
- Diamond: AIQOS, AMCO, Black Diamond Advisory, CFO Solutions, Finext, Finit, Inlumi, Inplenion, Spaulding Ridge
- Gold Partners: Avvale S.p.A, Bluebird, cpmview
- Silver Partners: Advance Tax Compliance, BDO LLP, BearingPoint, Keyteach, Swap Support, TaxVibes
- Development Partners: Advance Tax Solutions, AIQOS, AMCO, BDO LLP Black Diamond, Finext, Finit, InfinitySPM, Inlumi, Spaulding Ridge
- Technology Partners: EPMWare
To learn more about OneStream Splash EMEA, visit here.
About OneStream
OneStream is how today’s Finance teams can go beyond just reporting on the past and Take Finance Further by steering the business to the future. It’s the leading enterprise finance platform that unifies financial and operational data, embeds AI for better decisions and productivity, and empowers the CFO to become a critical driver of business strategy and execution.
We deliver a comprehensive cloud-based platform to modernize the Office of the CFO. Our Digital Finance Cloud unifies core financial and broader operational data and processes and embeds AI for better planning and forecasting, with an extensible architecture, so customers can adopt and develop new solutions, achieving greater value as their business needs evolve.
With over 1,400 customers, including 15% of the Fortune 500, more than 250 go-to-market, implementation, and development partners and approximately 1,400 employees, our vision is to be the operating system for modern finance. To learn more, visit onestream.com.
Contacts
MEDIA CONTACT
Jaclyn Proctor
Media Relations Contact
OneStream
media@onestreamsoftware.com
SOURCE OneStream, Inc.