OneStream Achieves Record Q3 Results with Strong Sales and Customer Growth Despite Pandemic
- Management , Corporate
- 30.10.2020 05:08 pm
OneStream Software, a leader in corporate performance management (CPM) solutions for mid-sized to very large enterprises, today announced it achieved record results for Q3 as new sales, customer and partner acquisitions saw exceptional growth during the quarter. Additionally, OneStream continued to receive notable recognition for its products, services and leadership, including its recognition as a Leader in Gartner’s 2020 Magic Quadrant for Cloud Financial Planning and Analysis (FP&A) Solutions.
With 160 percent year-over-year growth in sales for the quarter, OneStream experienced record results in Q3 as enterprises worldwide continued to invest in solutions to help them navigate the impacts of the COVID-19 pandemic and beyond. The quarter included the addition of 60 new customers, including 5 customers with over $1M in Annual Recurring Revenue (ARR). New customers were added across nearly every industry and geography and included Subway, Vima Foods, Downer Group, Camping World, and Ingram Micro.
Those additions bring OneStream’s global base to more than 570 customers, with over 100 new customers added in 2020 alone. The rapid growth illustrates a global market that recognizes the need for cloud-based planning, reporting and analysis solutions that can replace spreadsheets and legacy applications and provide the agility needed to help Finance teams navigate the challenges presented by the pandemic. To continue expanding its solution delivery capabilities to those customers, OneStream added more than 15 partners during the quarter, bringing its global ecosystem to over 200 partners.
“While the pandemic initially slowed some investment decisions earlier in the year, it has really evolved into a wake-up call for many organizations who have been reliant on spreadsheets or legacy applications for planning, reporting and analysis of their business,” said Tom Shea, CEO of OneStream Software. “As a result, we have seen increased demand for our unified, cloud-based platform to help organizations digitally transform critical finance processes, increase agility in planning and reporting, and help leaders gain better, faster insights into their business to support right-time decision making.”
In addition to OneStream’s strong growth across key metrics in Q3, the company was recognized as a Leader in the 2020 Gartner Magic Quadrant for Cloud FP&A Solutions. The firm evaluated cloud FP&A solutions providers based on their ability to execute and completeness of vision and OneStream believes being named a Leader this year is a result of the power of its platform, its commitment to 100 percent customer success and its unique ability to deliver new solutions to address the increasing demands on the Office of Finance. In addition, OneStream CEO Tom Shea was named a winner in Ernst & Young’s Entrepreneur of the Year regional award for Michigan and Northwest Ohio.
A schedule of upcoming Events is at https://onestreamsoftware.com/events/list/.
Sources: Gartner Magic Quadrant for Cloud Financial Planning and Analysis Solutions, Robert Anderson, John Van Decker and Greg Leiter, 06 October 2020. Magic Quadrant for Cloud Financial Close, Robert Anderson, John Van Decker, Greg Leiter, 21 October 2019.