#United States #Birmingham #OneStream #FedRAMP #SensibleAI

OneStream's SensibleAI Receives FedRAMP High Authorization

In a significant announcement, OneStream's AI operating system for modern finance, known for unifying financial and operational processes, has received the coveted FedRAMP High Authorization. This groundbreaking development allows federal agencies to efficiently forecast and build AI models on their regulated financial data securely and without the need to move it outside established boundaries.

Enhancing AI Governance in Finance

SensibleAI Forecast and SensibleAI Studio, now under OneStream’s Federal Risk and Authorization Management Program (FedRAMP), mark essential advancements in how AI can be integrated into government financial operations. Heather Herbst, Research Director at IDC, points out that securing a FedRAMP High authorization is a key advantage for vendors as it signifies trustworthy AI governance, which is crucial in today's demanding market.

Federal finance teams can finally leverage AI capabilities that are critical yet sensitive, overcoming significant barriers that often hinder the practical application of AI technologies in finance. With this expanded authorization, agencies achieve a leap towards modernizing their finance management processes within a secure framework. Some of the capabilities now offered include:

• - AI Deployment Across Critical Financial Processes: Agencies are empowered to apply AI technology not just for forecasting but also across planning, closing, reporting, and analysis. SensibleAI Studio allows teams to quickly identify anomalies, understand performance metrics, and analyze financial and operational data efficiently.
• - No-Code AI Configuration: OneStream ensures that finance teams, regardless of their data science expertise, can easily configure and operate AI tools in a guided manner. This opens the door for developers and partners to extend these capabilities to meet specific agency requirements.
• - Secure Environment for AI and Financial Data: The OneStream operating environment ensures that AI capabilities utilize the same governance structures and data security as financial processes. There is no need to export sensitive data or create separate data pipelines for AI tools, thus enhancing security.
• - Maintain Transparency Over AI Outputs: The integration provides finance teams with clear visibility into forecast drivers, modeling assumptions, and data sources. SensibleAI Studio features built-in dashboards, audit trails, and transparency for AI output interpretation.

The Need for Traceable Insights

OneStream's CEO, Tom Shea, emphasizes the urgent need for agility within public sector finance teams, especially as they face an ever-evolving landscape. However, he points out that insights cannot be acted upon if they are not verifiable. Their research highlighted that an alarming 47% of executives have made major decisions based on inaccurate data, and 61% often doubt the reliability of their figures. Consequently, placing SensibleAI Forecast and Studio under FedRAMP High authorization gives agencies a chance to utilize AI securely on their trusted financial data without compromising federal security standards.

These advancements in AI capabilities not only bolster efficiency and accuracy but also support the overarching need for rigorous governance. As federal agencies transition towards more innovative finance management solutions, OneStream’s integrated approach serves as a blueprint for reliable AI utilization.

Conclusion

With SensibleAI Forecast and SensibleAI Studio now available for federal agencies operating within the OneStream Government Community Cloud, the future of finance management in government settings has secured a stable and innovative foundation. For further insights on how OneStream can cater to government needs, you can visit their official page at OneStream for Government.

OneStream stands as a trailblazer in the domain of AI-powered finance solutions, serving over 1,900 customers, including a notable segment of Fortune 500 companies. With a strong team and robust ecosystem of partners, OneStream is empowering Chief Financial Officers to become pivotal players in shaping and executing business strategies.