Discover the key differences and similarities between these leading EPM platforms to determine the best fit for your organization
Enterprise Performance Management (EPM) solutions play a crucial role in helping organizations streamline their financial planning, budgeting, forecasting, and reporting processes. With a myriad of EPM platforms available in the market, choosing the right one can be a challenging task. In this blog post, we will provide a comprehensive comparison between two leading EPM solutions: Oracle EPM and OneStream, highlighting their key features, strengths, and limitations to help you make an informed decision.
Oracle EPM
Oracle EPM is a suite of integrated applications designed to help organizations manage their financial and operational performance. With its robust set of features and extensive customization capabilities, Oracle EPM has become a popular choice for large enterprises across various industries. Key components of Oracle EPM include:
- Hyperion Planning
- Hyperion Financial Management (HFM)
- Hyperion Strategic Finance
- Hyperion Profitability and Cost Management
- Hyperion Essbase
OneStream
OneStream is a unified EPM platform that consolidates financial planning, budgeting, forecasting, reporting, and analysis processes into a single application. With its streamlined architecture and user-friendly interface, OneStream is known for its flexibility and scalability, making it an ideal choice for both mid-sized and large organizations. OneStream’s key features include:
- Financial Planning and Budgeting
- Financial Consolidation and Reporting
- Scenario Modeling and Analysis
- Data Integration and Transformation
- Workflow and Process Management
Key Comparisons
Architecture and Deployment
Oracle EPM offers both on-premises and cloud-based deployment options, allowing organizations to choose the best fit based on their infrastructure requirements. OneStream, on the other hand, primarily focuses on a cloud-based architecture, which simplifies implementation and reduces maintenance costs.
Integration and Extensibility
Oracle EPM supports a wide range of integrations with other Oracle applications and third-party systems, making it a versatile option for organizations with complex IT landscapes. OneStream also offers seamless integration capabilities, but its unique extensibility feature, known as the XF MarketPlace, sets it apart. The XF MarketPlace allows users to access and implement pre-built solutions that extend the functionality of the core platform, ensuring adaptability to ever-changing business needs.
User Experience
OneStream is known for its intuitive and user-friendly interface, making it easier for users to navigate and perform tasks. Oracle EPM, while offering a robust set of features, can be more complex to navigate due to its multiple components and modules.
Scalability
Both Oracle EPM and OneStream are designed to scale with the needs of growing organizations. However, OneStream’s unified platform can provide a more seamless scaling experience compared to Oracle EPM’s modular approach.
Cost
While both solutions involve significant investment, Oracle EPM may have a higher total cost of ownership (TCO) due to its modular structure and potential additional costs for implementation, customization, and maintenance. OneStream’s cloud-based architecture and streamlined functionality often result in lower TCO.
Conclusion
Both Oracle EPM and OneStream offer powerful EPM solutions with unique features and capabilities. The choice between the two largely depends on your organization’s specific needs, IT infrastructure, budget, and long-term goals. Oracle EPM may be better suited for organizations with complex IT landscapes and a preference for a modular approach, while OneStream might be more appropriate for those seeking a unified, cloud-based solution with a focus on user experience and extensibility.
