A need for an updated technology solution commonly occurs when a company’s existing technology is nearing end of support. For example, many organizations use Oracle Hyperion, or “HFM.” In one such case, a commercial real estate company evaluated several options that could replace HFM and meet the evolving needs of their organization, and the company engaged Riveron and implemented OneStream. The solution enabled several new possibilities, including using the same technology to improve the company’s financial planning processes.

In this case, the technology enabled the business to make several improvements, including: (1) moving away from a time-consuming, Excel-based approach in favor of automated processes that allow professionals to spend more time on highest-value efforts; (2) modernizing the finance function by offering a single platform application that supports the entire office of the CFO within the organization and elevating cross-functional visibility because the technology could also support and expand the capabilities of human resources, operations, and other areas beyond finance; and (3) supporting better decision making by removing manual bottlenecks and allowing rapid, decentralized access to information. In addition, the cloud-based software easily integrated with the company’s existing human resources (HRIS) and enterprise resource planning (ERP) systems, and these integrations continue to promote more seamless ways of working.