Financial management platform
"Finance leaders have been jaded by first generation AI solutions because they did not gain true value from them. We're calling our AI sensible because our pre-packaged, purpose-built approach creates a more 'sensible' AI product that solves specific problems for the Office of the CFO," said Tom Shea, CEO of OneStream, in an email.
The OneStream Sensible AI portfolio is a set of packaged AI solutions, powered by machine learning and AI models built on top of OneStream's unified data model and proprietary financial intelligence to help finance leaders identify trends and business drivers and create forecasts from enterprise data. The new solutions include OneStream Sensible GenAI, OneStream Sensible Machine Learning Scenario Modeling, and OneStream Sensible AI Library.
OneStream Sensible Gen AI is a large language model chatbot that draws on OneStream's financial intelligence as well as the user's own enterprise workflows and data structures. This allows finance leaders to interact with and query their own data and receive insights via the OneStream interface. Examples include a query on comparing marketing spend in 2022 against 2023. OneStream Sensible GenAI enables leaders to access OneStream training and documentation such as sales plans or contracts, automatically within the chatbot.
OneStream Sensible Machine Learning Scenario Modeling capability builds on the existing OneStream Sensible ML solution to create a real-time AI-driven "what-if" forecasting scenarios using a company's own enterprise information across operational and financial workstreams. Using this solution, finance teams can isolate key business drivers, such as changes in interest rates, inflation, gas prices, new product introductions and plant shutdowns, and validate the scenarios and test their impact across forecasting, operational planning, workforce planning, sales planning and other areas.
The OneStream Sensible AI Library uses pre-built AI models to consume and interact with data across financial workflows, which assists with reporting and planning challenges, such as detecting anomalies, cold start forecasting, and fuzzy matching across myriad assets and locations.
"Finance leaders have long seen AI's potential for the Office of the CFO, but initial AI tools lacked clear business use cases, context, and transparency, raising more concerns than benefits," said Shea in a statement. "We're redefining AI for Finance to address these challenges, creating trusted, secure, and purpose-built solutions tailored to Finance pain points. Our new Sensible AI solutions announced today will increase Enterprise Finance AI adoption and help CFOs plan faster, forecast with greater accuracy, and unlock new growth opportunities."
OneStream said it is committed to ensuring finance leaders can obtain material value from AI and GenAI development via its approach towards the technology, which they call "Enterprise Finance AI." The company said that, for more professionals to use AI, they need to be able to trust the data's accuracy and security, as well as be pre-packaged and purpose-built for existing finance workflows.
