ROCHESTER, Mich.--(BUSINESS WIRE)--OneStream Software LLC, a leading provider of cloud or on-premise Corporate Performance Management solutions for mid-sized to very large enterprises, achieved 137 percent year-over-year growth in software sales in 2018 and record profitability. Strong growth was driven by accelerated cloud adoption and an increase in businesses migrating from multiple legacy planning, financial consolidation and reporting or account reconciliation products to the OneStream SmartCPM™ platform. More than 75 percent of new OneStream customers replaced one or more Oracle Hyperion, SAP, IBM or other products; in some cases, eliminating as many as a dozen legacy products by migrating to the unified OneStream platform.
“2018 was an unprecedented year for OneStream Software with record revenue, profit, new strategic partnerships, global expansion and the rapid delivery of several new business solutions through our innovative XF MarketPlace,” said Tom Shea, CEO of OneStream Software. “We’ve now delivered more than 50 solutions on our MarketPlace that our customers can download, configure and deploy – significantly accelerating the time to value for new or extended capabilities. The flexibility and scalability of our architecture continues to position OneStream as a true platform for the office of finance that allows for extended solutions above and beyond core financial consolidation, reporting and planning.”
More Customers, Broader Reach
OneStream added more than 120 new customers in 2018, bringing the total to more than 300. New customers added include: Herbalife, Toyota, McCain Foods, University of Cambridge, UPS®, Polaris, Sasol, and KLM; many of whom are deploying OneStream to thousands of users around the globe. For information on customer success visit: https://www.onestreamsoftware.com/testimonials.
“Our customers want a platform that they can depend on to expand, extend and scale as their needs do, without the burden of reimplementation or migration that they’ve faced with their legacy solutions,” said Craig Colby, chief revenue officer. “We developed OneStream XF and the XF MarketPlace with this in mind from the outset. Our incredible growth in 2018 and the success and satisfaction of our customers validate the business value of an extensible finance platform.”
To expand its reach in the public sector, OneStream became the first and only CPM vendor to receive the FedRAMP Moderate authorization, making the OneStream XF Cloud CPM platform more accessible to federal agencies seeking solutions for financial consolidation, reporting, planning, analysis and data quality.
Customer Engagement and Recognition
OneStream’s annual Splash User Conference and Partner Summit reflected growing customer and partner interest in the SmartCPMTM platform with a record 1,100 attending Splash in Chicago and Amsterdam in 2018. The 2019 Splash conferences will be held in New Orleans in May and in Madrid in September.
The impact of OneStream’s mantra of 100 percent customer success was reflected in market-leading customer satisfaction ratings in 2018, including an overall rating on Gartner Peer Insights of 4.9 out of 5 for the Cloud Financial Close Solutions market based on 24 total ratings and 4.8 out of 5 for the Cloud Financial Planning and Analysis Solutions market based on 40 total ratings as of January 22, 2019.
Additional recognition included leadership in the BPM Partners Pulse Survey, the BARC Planning Survey, the Dresner Advisory Enterprise Planning Market Study and the Nucleus Research Value Matrix. OneStream was also named to the Deloitte Fast 500 and Inc. 5000 for 2018.
New Partnerships, Broader Markets, Growing Team
OneStream forged over 30 new or expanded strategic partnerships with global services providers, including PwC, EY Advisory Services, The Hackett Group, Riveron, Spaulding Ridge and Sonum International. The company also expanded several US offices, opened new offices in Germany, France and Spain, and is evaluating new markets for expansion in 2019. OneStream added over 90 new employees globally in 2018 to support the tremendous growth including the appointment of Dave Kasabian as its first chief marketing officer as well as building executive leadership in key functional areas including Alliances, Sales, Services, Marketing, Operations and Customer Success.
In addition, OneStream Software announced today a significant investment from KKR to support and accelerate future growth and expansion. Learn more at https://www.businesswire.com/news/home/20190207005186/en/OneStream-Software-Receive-Significant-Investment-KKR
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 2018 Deloitte Fast 500 ranking in North America.