189% Growth in Software Sales Driven by New Enterprise Customer Acquisitions, Increased Cloud Adoption
Building on strong momentum from 2017, OneStream Software, LLC, a leader in Corporate Performance Management (CPM) solutions for the mid-sized to large enterprise, reported record 189% growth in new software revenue for the first half of 2018. That was driven by the addition of 50 new enterprise customers, expansion of its platform usage with existing customers, and an increase in cloud deployments.
Notable new customers include UPS®, Toyota, Sonoco, Burton Snowboards, Xylem, Sagent Pharmaceuticals, Alliance Data Systems, and Kennametal. Roughly 70% of the new customers added selected OneStream to replace Oracle Hyperion, SAP BPC and other legacy applications.
This year OneStream was recognized by five independent research firms for its industry leadership and high customer satisfaction:
- Gartner named OneStream a Visionary in its Magic Quadrants for Cloud Financial Close and Cloud Financial Planning and Analysis Solutions
- Nucleus Research placed OneStream in the Leader Quadrant on its 2018 CPM Value Matrix
- OneStream earned a perfect Customer Recommend score from Dresner Advisory Services and was named an overall leader for Customer Experience and Vendor Credibility in their 2018 Enterprise Planning Market Study
- BPM Partners named OneStream #1 for Overall Satisfaction and Product Innovation in its 2018 BPM Pulse Awards
- OneStream received Top Ratings in BARC's Planning Survey 2018 with the highest rating for Customer Satisfaction and 10 other key categories.
"Achieving 100% customer success is not only our mission, but it's the driving force behind everything we do as a company. It's fueling our rapid growth, gaining us new customers, guiding product development and is driving rave reviews from our sophisticated customer base along with recognition from the industry analyst community," said Tom Shea, CEO, OneStream Software.
New Lease Accounting & Tax Provisioning Solutions
At its record-setting Splash user conference in May, OneStream announced several new solutions for its XF MarketPlace, the industry's only ‘app store' for CPM to offer fully tested and proven solutions. In May, OneStream launched its lease accounting solution to help companies meet the upcoming IFRS 16 and ASC 842 lease accounting guidelines. A new Tax Provisioning starter kit was also announced in May to help corporations with tax reporting and planning. The XF MarketPlace portfolio has reached over 40 solutions and continues to grow.
"We are seeing strong growth both from new customers and also from our existing customer base who are increasingly leveraging XF MarketPlace solutions, such as Account Reconciliations, People Planning and our new Lease Accounting solutions. It's all part of our customer-focused approach, as we work with our customers to replace legacy applications and jointly tackle new issues with the OneStream XF platform," said Craig Colby, Chief Revenue Officer, OneStream
About OneStream Software
OneStream Software provides a modern Corporate Performance Management (CPM) 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 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.
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.
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