Corporate performance management (CPM) solutions provider OneStream Software previewed new artificial intelligence (AI) services and machine-learning (ML) functions for its software. The technology is designed to further the company’s mission of delivering a “financially intelligent platform” to support business requirements such as period end financial close, reporting, planning, forecasting and operational analysis.
OneStream’s new AI services and ML capabilities will streamline the process for allowing finance and operations teams to incorporate advanced forecasting and other ML techniques into existing planning processes. Key benefits include support for analyzing data generated from internal sources; building ML models in parallel; delivering AI results and ML predictions; solving issues related to demand planning, revenue forecasting, anomaly detection and cohort analysis; delivering proactive forecasts and conducting extended planning and analysis.
“Looking at the market, there aren’t many FP&A vendors that are able to handle large volumes of data for predictive decision-making without reliance on a data science team or third-party tools,” said Tom Shea, OneStream’s CEO. “Our new built-in AI and ML capabilities will make intelligent forecasting accessible to finance and operations teams, expanding use cases outside of finance for Demand Planning, Sales Planning and Workforce Planning while increasing time to value for customers.”