Comparing Oracle Vs OneStream Vs Blackline
In the current technological world, many companies offer products to assist your business in any aspect imaginable. With so many solutions, it's hard to determine what is best for my company, whether small or large or for front-office or back-office solutions. There are many different variables to consider. When looking for a solution, there may be what seems to be the perfect solution for a very niche aspect of your business, but that product could not integrate well with other software your company uses. Many companies have added too many small niche products and have trouble consolidating data, and now they are back in the market for new software. In the following article, we will compare three different software companies that vary in size and the solutions they offer. Oracle, OneStream, and Blackline are all companies that provide financial software solutions.
Oracle
Oracle is a technology provider with a cloud infrastructure platform and a full product offering of cloud applications. In addition, Oracle provides a large-scale data warehouse to manage all IT and other software solutions for businesses on the enterprise level and even solutions for small to medium businesses.
With the large scale of the Oracle catalog of products, they've established an environment where companies can almost rely on Oracle having various solutions that can integrate with each other. Many Oracle products integrate well with each other, but it can also be noted that many Oracle products were established by external software developers and then further acquired and added to the catalog of products. As a result, Oracle has acquired many different solution products but has also worked to develop further and fine-tune each solution and add new solutions to become the leader in software solutions.
OneStream
OneStream is a financial software looking to merge accounting and consolidation, financial planning, reporting, and analysis all in one unified platform. The software can be deployed in the cloud or on-premises to offer as much flexibility for businesses as possible. Aside from the core areas OneStream focuses on, they offer a MarketPlace with more than 50 additional solutions that can be added to the application.
Extensibility is how OneStream combines many complex solutions into one unified platform. The foundation of any solution starts with the dimension structure, and OneStream allows the ability to extend dimensions that meet legal reporting standards and the ability to see detailed analysis and planning or even view statistical or non-financial data. This capability enables the additional ability to integrate with almost any financial system, maintaining the original dimension structure during the implementation or making large changes easier.
Blackline
Blackline is an accounting-focused cloud-based software solution. Financial Close Management is one of the key areas which includes solutions for Account Reconciliations, Task Management, Transaction Matching, Journal Entry, Compliance, Variance Analysis, Smart Close, Consolidation Integrity Manager, and Account Analysis. In addition, Blackline has two additional solutions for Accounts Receivable Automation and Intercompany Financial Management.
Summary
In conclusion, Blackline has a partial niche product focusing only on accounting solutions. OneStream takes this a step further, offering a financial solution that expands on the accounting capabilities to other financial aspects of the business, including planning and analysis. OneStream also utilizes relational tables that can be utilized to provide for large-scale data analysis beyond just finance. Oracle takes software outside of finance and offers IT software solutions for almost any aspect of the business with an extensive catalog of products, including its own cloud platform. Companies need to consider various factors when choosing a software company, which can be overwhelming.
Partner SpotLight
OneStream aligns to your business needs and changes more quickly and easily than any other product by offering one platform and one model for all financial CPM solutions. OneStream employs Guided Workflows, validations and flexible mapping to deliver data quality confidence for all collections and analysis while reducing risk throughout the entire auditable financial process.
Our Company
MindStream Analytics' senior staff was there at the birth of Business Intelligence. We have been part of building Business Intelligence nationally from its humble niche product status to the ubiquitous analytic tool that it is today. MindStream consultants are well versed in reporting and information management and are ready to help you leverage the power of multiple tier-1vendors. From Oracle Hyperion to IBM Cognos, we can help you select and integrate the right tools for you to better understand your information. MindStream Analytics has experience across a wide variety of industries: Business Services, Consumer Products, Energy, Financial Services, Healthcare, Manufacturing, Transportation , and Telecommunication. We have the depth and breadth of experience to help you deliver actionable information to users.
Case Studies
Accumen
Thanks to the intervention of MindStream Analytics, Accumen's Finance department can now model their business with a new, more organized structure that isn't conventionally available in NetSuite.
Acme Brick
Acme Brick turned to MindStream Analytics for help implementing OneStream to replace their outdated TM1 solution.
Alterra
Alterra sought the expertise of MindStream to address the challenges they faced in their Capital Planning process.
ATCO Group
Energy conglomerate ATCO operates worldwide in utilities, power generation, and related services.
Avalon
Working with MindStream Analytics, Avalon Healthcare Solutions adopts NetSuite Planning and Budgeting to accelerate budgeting and forecasting processes.
Bayer Health Care
Bayer Healthcare implemented Hyperion Planning and Workforce Planning in 10 weeks to dramatically streamline their Income Statement budget and Workforce Planning process..
BluEarth
MindStream Analytics' partnership with BluEarth Renewables epitomizes the power of technology and collaboration.
Celgene
An Oracle Hyperion Planning Upgrade provides multi-national organization Hyperion Application optimization and stabilization.
Cleaver Brooks
OneStream XF was chosen as the platform that would transform Cleaver-Brooks' Finance processes.
CoorsTek
The collaboration between CoorsTek and MindStream resulted in significant improvements in CoorsTek's financial consolidation and reporting processes.
Elite Body Sculpture
MindStream Analytics' collaboration with Elite Body Sculpture encapsulates the transformative potential of targeted tech solutions in streamlining administrative processes.
Enlyte
Enlyte, a merger of Mitchell, Genex, and Coventry, faced challenges with disparate financial solutions and the need for combined reporting.
Flanders
MindStream Analytics collaborated with Flanders to implement OneStream Consolidation and Reporting solution.
Foley Products
Foley Products was facing a significant challenge with its Excel-based actual management reporting system.
Harte Hanks
The collaboration between MindStream Analytics and Harte Hanks culminated in a highly customized, user-friendly NetSuite implementation.
Interface
Interface used a complex, manual, excel-based FP&A process for monthly review, and the summary data was loaded in OneStream.
Kymera International
Thanks to Mindstream Analytics' assistance, Kymera was able to load all of their data into OneStream and validate it successfully.
MacLean Fogg
MacLean-Fogg partnered with MindStream, a leading implementor specializing in modernizing and optimizing enterprise systems.
MEPPI
MindStream's expertise and experience were sought to conduct a vendor selection initiative focusing on MEPPI's F2023 planning process.
OUAI
MindStream Analytics and OUAI's collaboration showcases the transformative power of strategic technological intervention.
Plaskolite
By migrating to OneStream, Plaskolite has achieved a material reduction in consolidation time and overall Financial Close cycle, eliminated the hours spent compiling and verifying data in Excel, streamlined its Planning, Budgeting and Forecasting model and delivered flexible and timely reporting that enables more strategic analysis of their financial data.
Redwire
Understanding the nuances of Redwire's challenges, MindStream Analytics devised a holistic approach to overcome them. The implementation of NetSuite was just the beginning.
Simon
Simon's existing corporate Hyperion Financial Management (HFM) production application was consolidating at a rate of seven hours, a performance issue causing great headache to corporate Accounting.
Source Code
The successful transition to OneStream revolutionized Source Code's financial reporting.
Subway
Subway collaborated with MindStream Analytics for the NetSuite Analytics Warehouse implementation.
UPenn
MindStream Consulting and AppCare team members are proud be working side by side with UPenn university in accomplishing this implementation and along with continuing our AppCare services after go-live.
USG
USG was an Oracle Hyperion customer realizing that it needed more specialized support for its various Oracle Hyperion applications.
Vantiv
Dividing a hyperion planning application, expanding the hyperion footprint to forecast on the business? Customer categories.
Versant Health
Versant Health engaged MindStream to help resolve the challenges they were experiencing with their consolidation, close, and financial reporting processes.
Virginia Spaceport Authority Case Study
The MindStream team implemented the Standard + Workforce NetSuite Planning & Budgeting.
WeWork
MindStream Analytics determined that the best solution was to implement Oracle Essbase Cloud as part of the Oracle Analytics Cloud (OAC) platform-as-a-service
WindStream
Innovative use of essbase to streamline and connect hyperion financial management for enhanced financial analysis.
XY Planning
MindStream Analytics, well-versed in addressing such challenges, presented a comprehensive Netsuite solution for XY Planning.