OneStream Software’s intelligent finance platform reduces the complexity of financial operations for higher education institutions worldwide. OneStream unleashes the power of finance by unifying corporate performance management (CPM) processes such as planning, financial close & consolidation, reporting and analytics through a single, extensible solution. We empower organisations with financial and operational insights to support faster and more informed decision-making. All in a cloud platform designed to continually evolve and scale. For more information visit www.onestreamsoftware.com
OneStream and Higher Education
Universities are confronting an unparalleled period of financial stress and operational change. Traditionally, institutions have had the luxury to make steady and incremental changes, but today’s environment is very different. The pace of change is greater than ever. Higher Education today operates in a more commercial and competitive landscape, and with increased regulation and complexity on how to report financial results there is increased pressure to modernise finance processes and systems.
With the sharp increase in the cost of tertiary education and the pressures presented by COVID-19 there is also a greater need for transparency and insight into the financial performance at all levels of the university.
Further, universities face increased reporting regulations, notably the Higher Education Statement of Recommended Practice (SORP) and mandates from the Office for Students (OFS).
For institutions to meet these challenges, finance teams need to lead at speed with agile planning, insightful analytics, advanced reporting and increased efficiency.
Prestigious universities, both in the United Kingdom and United States, are turning to OneStream's modern, unified corporate performance management (CPM) platform to address these challenges, leading them to simplify and streamline budget formulation, financial close and consolidation, reporting, visualisations and analytics.
Our customers in education include:
University of Cambridge
Texas A&M University System
City & Guilds
State University Case Study: As one of the Top 10 public research universities in the US, the university is comprised of 28 clinical and basic science departments and staffed by more than 1,400 faculty members. Having used Hyperion Planning and Essbase and Hyperion Enterprise, the Hyperion environment had become bloated and complex, and the university was ready to modernise their CPM processes. The university decided to replace their Oracle Hyperion suite with OneStream to allow them to provide multiple colleges and departments the capability to budget at hierarchal levels pertinent to them. This enabled the university to manage both higher education and healthcare requirements in a single platform.
We're partnering with AMCO Solutions, one of the most experienced OneStream Diamond Partners in Europe, Middle East, and APAC. AMCO is also an Authorized OneStream Training Provider and has expertise and demonstrable success in finance transformation in UK universities. AMCO Solutions provides end to end services, including advisory, implementation and training to support the office of finance across their CPM and ERP solutions. AMCO has implemented OneStream at over 100 customers across 11 countries.
Consultants from AMCO Solutions have implemented OneStream Software at the University of Cambridge to meet legal consolidation and regulatory reporting demands and have extended the platform to provide extensive financial analysis and transparency across the organisation. This has created efficiencies, cost savings and greater insight for this large education institution.
Please see our attached whitepaper that provides in-depth information on how OneStream can support finance directors at UK-based Higher Education universities. Also visit www.amco.one
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