Delivers unified close automation with data quality, validation, intercompany eliminations, financial consolidation, and regulatory reporting for insurance companies and other financial sectors.
Platforms that streamline the period-end financial close process, reducing time and errors in financial statement preparation.
More Financial Close Automation Systems
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Automated Journal Entry Posting Ability to automate and schedule journal entries to various ledgers. |
OneStream provides automation and scheduling of journal entries as part of its unified close automation feature (as per solution documentation and marketing materials). | |
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Account Reconciliation Automation Automatically matches and reconciles account balances across systems. |
Account reconciliation automation is a core capability of OneStream's financial close solution. | |
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Intercompany Elimination Automates the process of eliminating intercompany transactions for consolidated reporting. |
Intercompany eliminations—explicitly listed on product and solution pages as automated for consolidated reporting in finance and insurance. | |
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Trial Balance Automation Enables real-time automated generation and validation of trial balances. |
Real-time trial balance automation is included in OneStream's automation and reporting workflows. | |
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Sub-ledger to GL Reconciliation Automates and manages reconciliation between sub-ledgers and the general ledger. |
The platform provides automated reconciliation between sub-ledgers and the general ledger, per financial close documentation. | |
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Accrual Management Automates the accrual calculation and posting for period-end. |
Accrual management is handled by OneStream as part of their close automation suite. | |
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Suspense Account Monitoring Automatically monitors, tracks and resolves suspense account entries. |
Suspense account monitoring is part of OneStream's workflow and controls, per close management documentation. | |
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Reconciliation Templates Provides customizable templates for different account types and reconciliations. |
Customizable reconciliation templates are provided by OneStream as part of its reconciliation workflow modules. | |
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Bulk Close Operations Ability to close multiple entities, books, or business units simultaneously. |
Bulk close (multiple entities/units) is supported—unified close across entities is a promoted capability. | |
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Soft Close Capability Allows interim closing of ledgers before final close for review purposes. |
Soft/interim close is a supported function for review before final close; appears in OneStream's close workflow documentation. | |
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Number of Supported Ledgers Maximum number of separate general ledgers supported in the platform. |
No information available | |
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Custom Workflow Support Ability to define and automate multi-step close workflows tailored to organizational needs. |
Custom workflows and process orchestration are highlighted as customizable features in OneStream. | |
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Automated Adjustments System identifies and automatically posts adjustment entries as needed. |
Automated adjustments based on validation and business rules—OneStream enables this functionality. | |
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Close Task Checklists Provides configurable, tracked checklists to ensure all close tasks are completed. |
Checklist management for close processes—including tracked and configurable task lists—is a feature. | |
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Close Calendar Management Helps manage and visualize close timelines, milestones, and dependencies. |
Close calendar, milestones, and dependencies visualization are supported. |
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ERP Integration Direct connectors or APIs for major ERPs (e.g., SAP, Oracle, Microsoft Dynamics). |
Direct integration with major ERPs and APIs is a key offering. | |
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Data Import Automation Scheduled or on-demand data imports from multiple source systems. |
Supports automated and scheduled data imports from multiple source systems according to integration documentation. | |
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Real-Time Data Sync Synchronizes financial data in real-time or near real-time. |
Real-time and near real-time data synchronization is marketed for financial close accuracy and visibility. | |
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Data Validation Rules Customizable controls to validate data integrity during the close process. |
Validation rules and controls can be configured as per implementation documentation. | |
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Data Transformation Tools Features to map, clean, and transform data for compatibility with various systems. |
Data mapping, cleaning, and transformation capabilities are included for integrations. | |
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File Format Support Range of supported data file formats (Excel, CSV, XML, etc.). |
No information available | |
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Integration with Document Management Systems Direct integrations with platforms like SharePoint or Box for supporting documents. |
Integration with third-party document management systems such as SharePoint is supported via connectors. | |
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API Access Availability of RESTful, SOAP or GraphQL APIs for integration and automation. |
RESTful/API integration and documentation are published for developer support. | |
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Bulk Data Processing Speed Rate at which the platform can process and import bulk data. |
No information available | |
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Audit Trail for Data Changes Tracks all changes made to imported or exported data. |
Full audit trails and tracking for data import/export are included. | |
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Manual Data Entry Support Ability for users to manually upload, enter, or amend data as needed. |
Manual data uploads and amendments are allowed as part of reconciliation and close processes. | |
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Master Data Management Integration Supports connectivity to centralized master data systems. |
Integration with master data management systems is marketed for enterprise data accuracy. |
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Segregation of Duties Ability to enforce separation of roles for critical processes. |
Role separation and enforcement of segregation of duties are featured for internal controls. | |
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SOX Compliance Features Built-in controls and checklists for Sarbanes-Oxley compliance. |
SOX compliance checklists and features are mentioned for North American companies. | |
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Audit Trail Comprehensive logging of user activity and changes to financial data. |
Comprehensive audit logs of user activity and changes are kept for compliance. | |
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Policy Enforcement Ability to enforce close process policies and escalation rules automatically. |
Supports policy enforcement and automated process escalation rules. | |
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Attestation Processes Enables formal certification/attestation of reconciliations and close tasks. |
Attestation of reconciliation/close tasks is a financial controls feature. | |
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Approval Workflows Configurable approval flows for journal entries and reconciliations. |
Approval workflows can be configured for critical processes, as per workflow module documentation. | |
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User Access Controls Granular controls over user roles and access to data/features. |
Granular user-role and access controls are included as standard. | |
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Automated Controls Testing Features for periodic test and verification of key controls. |
No information available | |
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Compliance Reporting Pre-built and customizable reports for regulatory compliance. |
Prebuilt and customizable regulatory compliance reports are supported. | |
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Change Management Tracking Tracks all changes to process configurations, rules, and templates. |
Change management tracking is referenced as part of audit/compliance features. | |
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Retention Policy Management Automates application of document/data retention policies. |
Retention policies for documents and financial data are configurable; referenced in compliance documentation. | |
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Sensitive Data Masking Automatically hides or redacts sensitive financial information. |
Sensitive data masking is included for compliance and privacy requirements. |
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Workflow Engine Configurable process flows with automated assignment and hand-offs. |
Workflow engine and process automation are core to the solution. | |
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Task Automation Automates repetitive tasks like reconciliations, reminders, and calculations. |
Task automation including reconciliations and calculations is provided. | |
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Exception Handling Automates identification and escalation of exceptions or breaks. |
Exception identification/escalation mechanisms are automatic as described in process documentation. | |
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Automated Notifications Sends alerts and updates based on process events or deadlines. |
Automated notifications and alerts for events or deadlines are built in. | |
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Parallel Processing Support Allows tasks to be completed in parallel, speeding up the close. |
Parallel processing for tasks/entities is supported for speed (as per scalability claims). | |
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Scheduling Tools Configurable schedules for automated run of close activities. |
Scheduling tools for close activities are part of the automations package. | |
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Business Rule Automation Ability to define and apply custom business logic for process flows. |
User-defined business rules can be set and enforced. | |
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Role-based Task Assignment Automated assignment of tasks to users based on roles, workload, or rules. |
Tasks are assigned automatically based on user roles and workloads. | |
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Performance Monitoring Real-time tracking of process progress and blockers. |
Supports real-time monitoring of process progress and blockers. | |
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BPMN Support Compatibility with BPMN standard for documenting business processes. |
No information available |
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Standard Financial Reports Pre-built templates for key financial close and reconciliation reports. |
Standard financial close and reconciliation reports are included. | |
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Custom Report Builder User-friendly interface to create custom reports and visualizations. |
Custom report builder is supported and referenced in user experience modules. | |
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KPI Dashboards Live dashboards tracking close metrics (cycle time, open items, bottlenecks, etc). |
KPI dashboards with live close metrics are included. | |
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Drill-down Capabilities Ability to move from summary data into details and source transactions. |
Drill-down from summary data to details is supported per demo and reports documentation. | |
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Variance Analysis Tools Automated tools to identify and analyze variances in financial results. |
Variance analysis tools are provided as part of analytics. | |
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Export Options Range of export formats and direct integration to BI tools. |
Multiple export options and integrations to BI tools are supported. | |
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Real-time Close Progress Tracking Live display of process completion, overdue tasks, and status indicators. |
Real-time close progress tracking is a highlighted feature. | |
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Report Scheduling Automated, periodic report generation and distribution. |
Report scheduling is automated and configurable. | |
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User-defined KPIs Flexible creation and monitoring of custom close-related metrics. |
User-defined KPIs can be created and tracked as stated in documentation. | |
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Benchmarking & Trend Analysis Uses historical data to benchmark closes and spot long-term trends. |
Benchmarking and long-term trend analytics are supported for financial close cycles. |
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Role-based Dashboards Personalized views for different user types (controllers, accountants, reviewers, etc.) |
Different user types (controllers, accountants) get personalized dashboards. | |
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In-app Collaboration Features like commenting, notes, and attachments within the close process. |
Commenting, notes, and in-app collaboration tools are available. | |
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Mobile Access Responsive web/mobile app interfaces for completing close tasks remotely. |
Web app is mobile responsive enabling remote access. | |
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User Training Modules Integrated tutorials, training content, and help guides. |
Training modules, tutorials, and help guides are integrated. | |
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Multi-language Support Availability in multiple languages for global teams. |
Multi-language is supported for global enterprises. | |
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Multi-currency Support Compatible with multiple currencies, conversion rates, and reporting requirements. |
Multi-currency processing is included for international and insurance firms. | |
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Personalized Task Lists Each user sees their own prioritized and assigned tasks. |
Personalized lists for each user's assigned and prioritized tasks are available. | |
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Bulk Actions Perform multiple actions (close, approve, assign) at once to speed work. |
Bulk actions are available for approving or closing items per user guides. | |
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Accessibility Compliance Meets standards like WCAG 2.1 for accessible digital experiences. |
No information available | |
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Integrated Chat/Message System Instant messaging for contextual collaboration within the platform. |
No information available |
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Data Encryption Encrypts data in transit and at rest using industry-standard protocols. |
Data encryption both in transit and at rest is referenced in security documentation. | |
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Multi-factor Authentication Enhances platform access security via MFA/2FA options. |
Multi-factor authentication is a standard enterprise security feature. | |
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Regular Security Audits Platform undergoes periodic third-party or internal security testing. |
Undergoes regular security audits by internal and/or third parties. | |
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Disaster Recovery SLA The committed time within which systems are restored after a disaster. |
No information available | |
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Data Backup Frequency How often the platform conducts full backups. |
No information available | |
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User Session Management Automatic log-off and session control features. |
Session time-outs and management features are a standard part of OneStream's security. | |
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Security Certifications Possession of industry recognized certifications (e.g., ISO 27001, SOC 2). |
Holds certifications such as SOC 2 and ISO 27001, per published compliance statements. | |
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Granular Permission Settings Detailed controls for access to objects, fields, and actions. |
Granular permissions on objects, fields, and actions are configurable through the platform. | |
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Audit Log Retention Length of time audit logs are retained and accessible. |
No information available | |
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Single Sign-On Integration Supports SSO via SAML, OAuth, or Active Directory. |
Single sign-on via SAML and Active Directory is supported. |
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Concurrent User Capacity Maximum simultaneous users supported without loss of performance. |
No information available | |
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Supported Entities/Business Units Maximum organizational units/entities handled within a single deployment. |
No information available | |
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Close Cycle Time Reduction Typical reduction in close time when using the platform. |
No information available | |
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Data Storage Capacity Maximum financial and supporting data storage available per instance. |
No information available | |
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Load Balancing Support System remains performant during peak workloads through automated load balancing. |
Load balancing is referenced in cloud architecture for large-scale deployments. | |
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Performance Monitoring Tools Built-in analytics for tracking system response and throughput. |
Performance monitoring tools and analytics dashboards are provided. | |
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Batch Processing Throughput Maximum number of records processed per hour in batch operations. |
No information available | |
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API Rate Limits Maximum number of API calls per time unit. |
No information available | |
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Geographic Distribution Support for distributed teams and operations across multiple regions. |
Supports distributed teams across multiple regions per cloud SaaS model. | |
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Flexible Deployment Models Options for SaaS, on-premises, or hybrid deployments. |
Offers SaaS (cloud), on-premises, and hybrid deployment models according to official documentation. |
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Regulatory Reporting Templates Pre-built templates for statutory, regulatory and NAIC (US) or Solvency II (EU) disclosures. |
Regulatory reporting templates (NAIC, Solvency II) are explicitly listed for insurance. | |
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Policy-to-Ledger Reconciliation Automated tools to reconcile policy systems with accounting ledgers. |
Policy-to-ledger reconciliations are referenced in insurance solution overviews. | |
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Claims Reserve Calculations Supports actuarial reserve calculations and integration with actuarial systems. |
Claims reserve calculation support and integration with actuarial systems are candidates in insurance modules. | |
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Investment Accounting Integration Automated feeds from investment management systems to GL/reconciliation. |
Investment accounting integration is supported for insurance finance teams. | |
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Multi-GAAP Support Handles US GAAP, IFRS 17, and other insurance accounting standards. |
Supports US GAAP, IFRS 17, and other insurance accounting standards. | |
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Reinsurance Agreement Tracking Automated reconciliation for ceded/premium for reinsurance contracts. |
Reinsurance agreement tracking and reconciliation are available for insurance clients. | |
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Premium Receivable Reconciliation Reconciles policy premium receivables automatically. |
Automated premium receivable reconciliations are available in the insurance module. | |
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Claims Payments Tracking Reconciles actual claims payments against reserves and accounting entries. |
Claims payments tracking and reconciliation is an insurance-specific supported feature. | |
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Product/Line of Business Segmentation Allows close data and reporting by product or line of business. |
Segmentation by product/line of business is standard for financial close in insurance. | |
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Regulatory Filing Automation System automates the population and e-filing of regulatory reports. |
Automation for population and e-filing of regulatory reports is referenced for insurance. |
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Implementation Time Typical time frame required to deploy and go live. |
No information available | |
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Onboarding Assistance Dedicated onboarding and migration support. |
Onboarding and migration assistance is described in OneStream implementation services. | |
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24/7 Customer Support Support availability around the clock (live chat, call, or ticket). |
24/7 support (via ticket and escalation process) is available for enterprise clients. | |
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Knowledge Base Comprehensive self-serve documentation and troubleshooting guides. |
Knowledge base/documentation is available for self-service. | |
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Dedicated Account Manager Provides an assigned point of contact for ongoing support and escalation. |
Dedicated account managers are available to medium and large enterprise customers. | |
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SLAs for Issue Resolution Guaranteed maximum times for critical and non-critical issue resolution. |
No information available | |
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User Community Forums Active community or user groups for peer support. |
Online community forums and user groups are available. | |
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Training and Certification Programs Structured courses and certifications for users and admins. |
Training and certification programs are available for admins and users. | |
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Partner Network Ecosystem of third-party implementers and solution partners. |
Partner ecosystem of implementation and solution providers is promoted on the website. | |
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Upgrade/Release Frequency How often platform releases major product enhancements. |
No information available |
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Transparent Pricing Model Clear, published or easy-to-understand pricing (vs. custom quotes only). |
Transparent pricing information (at least on request) is provided as opposed to completely custom/opaque quotes. | |
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Modular Pricing Option to pay only for needed modules or features. |
Modular pricing and ability to purchase/subscribe by module are described in sales literature. | |
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Free Trial Availability Ability to try the software at no initial cost for a limited period. |
Not as far as we are aware.* No free trial available; typical for large-scale financial close vendors. | |
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Per User Licensing Licensing and cost scales with number of users. |
Licensing is typically user-based, as stated in the pricing model disclosures. | |
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Transactional Pricing Option Option for pricing based on volume of transactions processed. |
No information available | |
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Implementation Fees One-off fees for initial setup or configuration. |
No information available | |
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Ongoing Maintenance Costs Annual/monthly fees for support, updates, and hosting. |
No information available | |
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Discounts for Multi-year Commitments Reduced pricing available for longer contracts. |
Multi-year commitment discounts are available through sales negotiation according to market norms. | |
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Flexible Contract Terms Monthly/annual options; early termination and upgrade/downgrade policies. |
OneStream supports both annual and monthly contracts plus flexible upgrade terms. | |
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Cost Predictability All-in costs clearly outlined with minimal hidden fees. |
Cost predictability is promoted as a value proposition for enterprise clients. |
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