Lucanet vs. OneStream

Lucanet is an easy to understand consolidation tool that displays the company's PnL, balance sheets, and cash flow statement in a clear way. The software is intuitive and easy to understand. User access functionalities are good. Dashboarding, reporting, and variance analysis are limited which is a disadvantage compared to other applications who do offer more all-in-one solutions.

Incentivized

OneStream is best suited for medium to large companies that find themselves doing a wide variety of manual processes during their financial close cycle will get the most benefit. That does mean a lot of change so there has to be very intentional communication around change management in order to get the buy in that is necessary for success.

Incentivized

• Very intuitive interface to slice and dice the data to have a monthly, quarterly, or yearly view
• Easy to add additional journal entries
• Present legal consolidation structure in an intuitive way

Incentivized

• Consolidation engine is powerful, we have around 500 entities translating from multiple source currencies into a common currency at good speed.
• We leverage the Flash and Quarterly forecast providing users with pre seeded data so they only need to make tweaks rather then filling in a lot of manual forms.
• We use Transaction matching for processing a lot of intercompany matching invoices from the ERP systems which helps end users a lot. Data is fed in from source ERPS and TXM generates the auto matches based on criteria provided.
• We have a custom Tax module which we use to pull in tax entries from the consolidation side and this gives the Tax teams starting position for their tax calculations and enables them to also do a quarterly forecast estimate.
• OneStream has great dashboarding capabilities for a whole range of use cases from charts and graphs, to drill-back data to running even steps that users can execute without having access to the source code/rules in the background!

• Limited dimensions to drill-down to a lower level of detail
• Limited reporting functionality
• We used it mainly for consolidation of actuals. As far as I know, limited functionality for variance analysis

Incentivized

• Provide some more prebuilt dashboards that serve as reference examples for specific topics, to allow users to gain an idea of all that is possible
• Provide some clear cut explanations to explain some of the standard concepts, to allow companies that start their implementation to gain a quick understanding of how things work

Currently we are using OneStream with people 80 - 100 to load the PL, BS , Forecast budget and People Planning. OneStream give us more visibility on trend and way forward thinking. Thanks to OneStream for the tool which helps the business in growing way. Thinking of innovation OneStream is right path.

Incentivized

Overall usability as an end-user is very easy. There are more people in the system getting information now than the prior platform used. People are gathering their information quicker as well. From an administrator standpoint, there are fewer glitches and issues than the prior platform. This is very good.

Incentivized

OneStream support is focused on the infrastructure. Which means mainly when there issues with accessing to the system, they will be able to help. When the question is to much leaning towards functional it really becomes billable. The other issue is that the response time is not optimal. There is a lot of pingpong of messages and the time between the message can sometimes be long. Sometimes this result into a simple ticket to be taking days before it is closed.

Incentivized

onestream offers a range of training. I have attended a number of trainings. During the trainings a vast amount of information is discussed. The trainings also include exercises. The speed of the training is pretty high. When reviewing the training material afterwards, I found that the material is not complete as reference as it relies also very much on the verbal explanation and elaboration.

Incentivized

Incentivized

OneStream is much more robust, has functionality around creating financial statements in Common Currency which other systems we used could not handle. OneStream has a really good structure around it. We believe it's a much better fit for a Global company of our size. We're just scratching a surface of what the system capabilities are.

Incentivized

• Provides single source of truth regarding financial data
• Affordable solution

Incentivized

• Customers have moved from multiple EPM systems as well as multiple EPM applications to OneStream.
• Their ROI has been quite high as lesser admins are required, no need to move data back & forth, no need for an additional dashboarding / BI tool, once a user is on OneStream can leverage it for more than 50+ use cases at no additional license cost.
• Automation, direct integration, scheduling, complex calculation capabilities, all help to further improve ROI and free up the time for the team to do value-adding tasks.
• Last but not the least is the confidence on the numbers is much higher.