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 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 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 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.
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.
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