Once again, an Enterprise Performance Management platform is taking over the EPM market, namely OneStream. This new solution is often mentioned in the same breath as the OneStream Solution Exchange, often referred to as the MarketPlace. Why is the Solution Exchange one of the key differentiators that sets OneStream apart from other solutions currently available? And how can you put this "store" to good use? In a series of blogs, our experienced EPM consultant Marc Roest goes into the details of Solution Exchange solutions. And as you might expect from the software-independent club that we are, he tells you the truth about his experiences. First, let's dive into Solution Exchange itself!
What makes OneStream unique?
Earlier generations of EPM solutions are powerful because they allowed an experienced user or consultant to customize the way the system is operated by including the ability to write scripts. Within the tool's standard functionality, you could customize the product to suit your needs. However, the scripting available was limited and only accessible from specific parts of the tool. The guys at OneStream have taken a different approach. They actually build the entire platform in Microsoft VB.Net, an accessible object-oriented programming language that is not that hard to learn. If you know how to write a macro in Excel, you're halfway there.But then the first question arises: if the system is so open, are you likely to need a lot of consultants or is there a big risk that it will be a real mess? To avoid this, OneStream invented the Solution Exchange. This is an online "store," where you can download apps just like on your cell phone. These apps work seamlessly within the OneStream platform. To give you an example of the platform's capabilities, the OneStream Market Place itself is fully built within Onestream and accessible online to customers and partners.
Why is this Solution Exchange useful?
This 'store' enables you to pick and choose exactly those apps that will help you to streamline your financial processes. Whether it's IFRS16, people planning or standard administrator utilities, you can download an app with the required functionality. Three types of apps are offered: MarketPlace, PartnerPlace, and OpenPlace solutions. While MarketPlace solutions are offered by OneStream, the 'store' also offers solutions from partners, and community-shared solutions called OpenPlace solutions.
To be honest, the Solution Exchange is one of the features I really like about OneStream. Having worked with EPM solutions for many years, both as a consultant and as a user, I have learned to value being able to choose those options that are just right for your situation.
How does the Solution Exchange work?
This is extremely easy, similar to downloading apps on your smartphone. After logging into the Solution Exchange, you can choose to go to the MarketPlace, the PartnerPlace or the OpenPlace, where you can find the various solutions available. These are sorted by most downloaded and latest updates. The apps can also be found via the search button on the right or via the solution category down menu.
When you open a solution, you will always find two buttons on the left side. If you click on one of these buttons, a panel will appear on the right:
- Release Notes: containing a brief description of the selected solution.
- Instructions: documenting the details on setting up (and using) the selected solution.
The solution also shows one or more images (screenshots) with the solution and has a download button to download the solution.A word of caution: it is best to download the documentation when you start using a solution, because the documentary is updated with version updates.
Therefore, downloading the document ensures that your documentation applies to the version of the solution you are using.
Choose the level of your Solution Exchange apps
Looking at the solutions currently available, I would distinguish them into 3 levels:
- Plug and play: The solution can be downloaded and installed by an administrator and will run immediately with a maximum of 1 hour of configuration
- Admin configurable: The solution can be downloaded and installed by an administrator and will run with a maximum of 8 hours of configuration
- Minimum viable product: The solution must be configured by a consultant and/or requires significant scripting modifications
These levels allow you to weigh the amount of configuration required to implement the solution against the features it will bring you. This makes it easier to decide which app best suits your needs. It also makes it easier to schedule the amount of consulting needed.
Why have another OneStream blog?
I have been working with EPM software for many years. Both as a consultant and as a customer. My focus used to be Hyperion, starting with Hyperion Enterprise, HAL, Essbase and later FDM and HFM. I have always gathered a lot of knowledge from the various blogs available online. Both as a starter and eventually as an experienced technical consultant, I could find new knowledge online.
Currently there are a few blogs available about OneStream, but personally I think most of them are a bit 'commercially colored'. Since I am fairly new to OneStream but have a lot of experience with EPM software solutions, I thought this would be a good time to start a 'start-level' blog that will eventually become more technical. The main goal is to share knowledge and experience about the capabilities within the OneStream platform, with an emphasis on the One Stream Market Place.
