OneStream Software Helps Organizations Improve Control and Governance Over Application Change Requests

By AIT News Desk On Mar 28, 2021

New Application Control Manager saves time and reduces risk in processing end-user change requests.

OneStream Software, a leader in corporate performance management (CPM) solutions for mid-sized to very large enterprises, announced a new OneStream MarketPlace solution that helps organizations provide control and governance over application change requests. The new Application Control Manager solution provides an easy way for end-users to request changes to OneStream applications and provides multi-level approval workflow around change requests.

Additional capabilities of Application Control Manager include the following:

Reads and detects changes in meta data in GL/ERP, data warehouses and MDM tools and synchronizes these changes with OneStream.
Provides full audit reporting on application change requests.
Supports management of meta data changes across development, test, and production environments.
Exports meta data changes back to source systems.

With the rapid pace of change in today’s global economy and business landscape, finance teams need the agility to adapt to change. However, they must also ensure the right controls and governance processes are in place before changes are made to book of record reporting systems, as well as planning and analytical applications. This includes managing and controlling changes to the chart of accounts, entity structures, departments, and other analytic dimensions such as products and channels. This also pertains to changes to user access and security privileges.

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“This particular MarketPlace solution was acquired from OneStream partner Finit, who originally developed and implemented the solution for several customers,” said Tom Shea, CEO of OneStream Software. “Application change management capabilities are becoming of increasing interest with existing and prospective OneStream customers. And since Finit had already developed a solution that addresses many of these requirements, rather than developing a new solution from scratch, OneStream was able to accelerate our time to market by acquiring and enhancing the Finit solution.”

Like all OneStream Marketplace solutions, Application Control Manager was developed directly on the OneStream platform allowing customers to download the solution directly into their existing applications and immediately take advantage of this functionality without adding 3rd party technologies. “We’ve invested significant time, money and resources in architecting our platform and MarketPlace to deliver fast time to value and zero disruption for our customers to take advantage of new solutions like this,” said Craig Colby, President of OneStream Software. “This is the first of many MarketPlace solutions to come from a partner and we are very excited to see the partner community driving value for our customers.”

“Ensuring the right controls are applied around application change requests is critical to ensuring the integrity of financial results and forecasts,” said Jackie Najm, Director of Financial Systems at Tenneco. “Having the change requests, approvals and all related documentation in one place within the OneStream Application Control Manager has alleviated many past pain points around the change control process. The OneStream Application Control Manager not only streamlined our control processes, but it also managed to eliminate 98% of our audit deviations around metadata and security controls.”

“OneStream’s platform capabilities combined with Finit’s domain expertise allowed me to design and develop a Marketplace solution, originally named RequestIt, for data governance and application control,” said Samantha Williams, Director of Product Management at Finit. “This solution added great value to our clients, increasing efficiency and improving processes in these areas. All of us at Finit are excited that this solution will be available to all OneStream customers through the MarketPlace, and that customers will now be able to extend the value of OneStream in these key business areas.”