Achieves 68% YoY sales growth, adds 70+ new customers worldwide in first half of 2019
ROCHESTER, Mich.–(BUSINESS WIRE)–OneStream Software, a leader in Corporate Performance Management (CPM) solutions for mid-sized to very large enterprises, continues to grow at a rapid pace with 68% year-over-year sales growth in the first half of 2019. This includes license expansion in more than 40 existing customers and the addition of 74 new customers, bringing the total number of OneStream customers globally to over 370. New customers added during the first six months of 2019 include Dish Network Corporation, General Dynamics, Global Fashion Group, Group Lotus (Lotus Cars), Iron Mountain and Tronox.
“Private and public-sector finance organizations worldwide are selecting our unified, scalable platform. In addition to adding an impressive list of new customers to the OneStream community, our very strong first half results include an increase in business from existing customers taking advantage of the broad range of easy to deploy XF MarketPlace solutions to extend the scope and value of their OneStream investment,” said Craig Colby, chief revenue officer, OneStream Software.
OneStream received a significant investment from KKR in February that is accelerating expansion across new geographies, industries and government agencies looking to modernize their finance systems. New business in Europe was especially strong for H1 2019, with YoY bookings in EMEA up more than 400% over 2018.
Digital Finance Transformation
The digital transformation of finance and rapid adoption of cloud-based finance applications is driving continued growth as mid-sized and large enterprises replace multiple legacy products, such as Oracle Hyperion, SAP BPC, IBM Cognos and underperforming cloud products, with the unified OneStream XF platform.
“The appeal of digital finance transformation is enabling finance organizations to be more strategic and business focused, in addition to the comprehensive financial responsibilities the CFO is accountable for. We set out from the beginning to design a single platform that does both. OneStream XF is architected to do the hard part of unifying solutions for our customers, so they don’t have to. As a result, our customers eliminate multiple applications and complex integrations so they can focus their efforts on driving the business forward,” said Tom Shea, CEO of OneStream Software. “We are organically engineering merging technologies into the platform so our customers can embrace digital finance transformation on their terms, on their schedule, in one platform.”
Experienced Cloud Software Executives Join OneStream Board
Also announced today, OneStream has expanded its corporate board with the addition of two seasoned business executives. Mike Burkland, executive chairman for Five9 and John Kinzer, former CFO for HubSpot and operating partner at the growth equity firm Stripes Group join the OneStream board. Both bring decades of experience in leading high-growth enterprise cloud software companies.
SmartCPM™ Gets Smarter
In March, OneStream released the fifth generation of its OneStream XF platform. New features included environmental sensors, intelligent bots and smart load-balancing for optimal resource allocation and performance as well as extended local language support and improved ad-hoc analysis for an enhanced self-service user experience.
A Big Splash in The Big Easy, New XF MarketPlace Partner Program
At its record-breaking Splash user conference in May, with more than 1,100 in attendance, OneStream announced the extension of its XF MarketPlace to include partner developed solutions. Comparable to the Apple App Store or the Salesforce AppExchange, the OneStream XF MarketPlace offers more than 50 value-added business solutions built on and optimized for the OneStream XF platform. Fully supported, downloadable and ready to configure solutions include Account Reconciliations, Tax Provision, People Planning, Capital Planning, Guided Reporting and more. Several OneStream partners are participating in the pre-launch of the XF MarketPlace partner program and have developed solutions that are in production at customers and will soon be made available on the XF MarketPlace.
Like the size and scope of OneStream deployments, analyst and media recognition continued to expand in the first half of 2019. Many independent research firms and media recognized OneStream for its leadership and high customer satisfaction:
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 via the cloud or on-premise, OneStream’s unified platform enables organizations to modernize Finance, replace multiple legacy applications, and reduce the total cost of ownership of financial systems. OneStream unleashes Finance teams to spend less time on data integration and system maintenance – and more time focusing on driving business performance.
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. For more information, go to www.OneStreamSoftware.com.