7 competitors you'll want to take a look at: one stream competitors
FP&A Software

7 Onestream Competitors You’ll Want to Take a Look At

5 mins

When it comes to managing finances, OneStream competitors offer powerful FP&A solutions that serve as the secret weapon behind smooth planning, budgeting, and reporting. And it’s not just about crunching numbers. These tools transform messy processes into streamlined workflows. They improve accuracy and empower teams to make smarter, faster decisions backed by real data.

 

Among the many FP&A tools available, OneStream often comes up as a leading choice. It’s well-known for its robust features and ability to handle complex financial processes. But here’s the thing – OneStream isn’t the only solution out there. 

 

Read FP&A Software Buyer’s Guide

 

Choosing the right tool isn’t about the biggest name – it’s about what fits your company’s size, industry, and priorities. Whether you need fast implementation or seamless ERP integration, different tools solve different challenges.

 

In this blog, we’ll explore the top seven OneStream alternatives, breaking down their strengths and weaknesses to help you choose the best FP&A solution for your business. Here are several other options.

1. Oracle Hyperion (Oracle EPM Cloud)

Oracle Hyperion, now part of Oracle’s EPM Cloud, is a well-known name in financial consolidation and planning. It’s especially popular among large, multinational companies that need to manage complex financial structures, multiple entities, and global compliance requirements. Known for its scalability and advanced features, Hyperion has remained a trusted choice for organizations with complex financial processes.

Strengths

  • Excellent financial consolidation and reporting for large enterprises.
  • Highly customizable for specific planning needs. Seamless integration with Oracle ERP and databases.

Weaknesses

  • Outdated interface compared to modern tools.
  • Requires significant technical expertise to set up and maintain.
  • High costs for licensing and maintenance, making it less practical for mid-market businesses.

2. Farseer: A Standout Solution for FP&A Teams

Farseer offers a unique blend of affordability, scalability, and ease of use that’s hard to match. It is designed for mid-market companies and enterprises in industries like retail, manufacturing, and professional services. It simplifies financial consolidation, planning, and forecasting by bringing everything into one centralized platform. Farseer offers a spreadsheet-like interface that’s easy to use while handling large datasets and complex workflows with powerful tools.

What sets this tool apart is its flexibility in customizing financial models to match specific business needs. Powered by RamaDB, its proprietary in-memory database, Farseer delivers lightning-fast calculations and real-time data processing. The platform also includes advanced tools for scenario planning and AI-driven forecasting, helping finance teams evaluate multiple options and make smarter, data-backed decisions.

Why choose Farseer

Weaknesses

  • Ideal for mid-market and enterprise companies; less suited for small businesses with basic workflows.
  • Some learning curve due to advanced features, but Farseer’s excellent support ensures users adapt quickly.

3. Anaplan

Anaplan is well-known for its ability to handle large-scale, complex planning scenarios. Its strength lies in connecting data across departments, making it especially appealing for global enterprises with interconnected planning needs.

Strengths:

  • Highly customizable, offering powerful modeling capabilities for large, complex organizations.
  • Scalable, with the ability to handle large datasets and multiple scenarios simultaneously.
  • Strong collaboration features to align planning across different departments.

Weaknesses:

  • High total cost of ownership (TCO), which can be too high for mid-sized businesses.
  • Requires significant training for new users.
  • Implementation can be lengthy because of the platform’s complexity
 

Read Anaplan Competitors – The 6 Best Alternatives for FP&A

4. SAP Analytics Cloud (SAC)

SAP Analytics Cloud is one of the tools offered within the broader set of products and solutions that SAP provides. It provides a single platform for planning, analysis, and reporting, and works best for companies already using SAP tools.

Strengths:

  • Seamless integration with other SAP products, creating a fully connected ecosystem.
  • Strong analytics and reporting capabilities, with built-in AI and machine learning features.
  • Highly secure, leveraging SAP’s robust infrastructure.

Weaknesses:

  • High licensing costs make it less suitable for companies not already using SAP.
  • Implementation can be slow and complex, especially for non-SAP users.
  • Limited flexibility for businesses needing a more tailored approach outside of SAP’s ecosystem.

5. Prophix

Prophix is an FP&A solution focused on automating routine financial processes, such as budgeting, forecasting, and reporting. It’s particularly suited for smaller organizations or teams inexperienced with FP&A software.

Strengths:

  • User-friendly interface, making it easy for non-technical finance professionals to adopt.
  • Pre-built templates and workflows for quick deployment.
  • Affordable for smaller organizations, with an emphasis on automation.

Weaknesses:

  • Limited scalability, making it less effective for businesses with growing complexity or data needs.
  • Lacks advanced scenario modeling and multi-variable forecasting capabilities.
  • Customization options are limited compared to other tools in the market.

6. Planful (formerly Host Analytics)

Onestream’s competitor Planful focuses on speeding up the planning and reporting cycle. It’s particularly popular among finance teams looking to streamline processes and automate repetitive tasks, such as monthly reporting.

- Planful screenshot

Strengths:

  • Modern user interface that’s easy to navigate, even for new users.
  • Strong focus on automating workflows, reducing manual effort.
  • Efficient for financial reporting, with pre-built integrations to ERP systems.

Weaknesses:

  • Limited emphasis on advanced scenario modeling, which may not meet the needs of teams that need detailed “what-if” analyses.
  • Customization options are more limited compared to competitors like Farseer.
  • More suitable for companies prioritizing reporting over comprehensive planning.

7. IBM Planning Analytics (Powered by TM1)

IBM Planning Analytics, built on the TM1 engine, is a highly customizable planning and analytics tool that is good for companies that need advanced data modeling and real-time reporting.

Strengths:

  • Extremely powerful for multidimensional data analysis and scenario modeling.
  • Strong reporting capabilities with integration into Excel through its Excel add-in.
  • Robust scalability for enterprises handling massive data volumes.

Weaknesses:

  • Complex interface that often requires specialized training.
  • Heavily IT-dependent, requiring technical expertise for deployment and maintenance.
  • Higher upfront and ongoing costs compared to simpler tools.

Conclusion

When evaluating FP&A solutions, it’s important to look beyond the big names and consider how each tool aligns with your business’s unique needs. While OneStream is a strong option, these seven competitors offer alternative approaches with their own strengths and limitations.

 

Ultimately, your choice will depend on your priorities – whether it’s cost, implementation speed, integration needs, or scalability. Take the time to evaluate your current processes and long-term goals, and don’t hesitate to explore tools that strike the right balance for your business.

 

If you’re ready to optimize your financial planning and analysis processes, be sure to explore Farseer and see how it compares to the options above.

 

Read: 9 Common Sales Forecasting Software Features You Actually Need.

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