Spreadsheet or Excel Add-in?

Spreadsheet or Excel Add-in?

As we know, the Spreadsheet and Excel Add-in capabilities extend OneStream's functionality, providing financial analysts and FP&A professionals with a familiar interface to access, manipulate, and submit company data.

The use of Spreadsheet and the Excel Add-in is manly focused around two areas:

• Data Retrieval and Analysis: They allow users to connect directly to the OneStream database to retrieve, analyze, and refresh live financial data. Users can leverage Excel's comprehensive formula and charting capabilities while ensuring that the underlying data is accurate and sourced directly from the single version of the truth within OneStream. This capability is vital for ad-hoc analysis, detailed drill-downs, and creating custom management reports that may be too complex or specialized for the standard built-in reports.
• Data Submission and Workflow: In some contexts, they are used to facilitate the submission of budget, forecast, or journal data back into OneStream. Templates can be designed in the tool, which then uses the specific functions to upload data, maintaining the integrity of the data submission process by adhering to security and validation rules.

Now, what are the differences between these two options?

Well, the differences between the Excel Add-in and the Spreadsheet feature lie primarily in their environment, functionality scope, and dependence on Microsoft Excel.

Here is a breakdown of the key features and distinctions:

So, when you should use one option over the other?

Well, you should use the Spreadsheet feature over the Excel Add-in when you need an easy access to the tool and, most important, governance and control:

And when you should use the Excel Add-in over the Spreadsheet feature? As we know, the Spreadsheet feature is excellent but cannot replace the power of the dedicated Add-in for advanced tasks. You must use the Excel Add-in when you need:

1. VBA Macros/Automation: Any time you need to use Visual Basic for Applications (VBA) to automate data retrieval, processing, or submission actions;
2. External Data Integration: When you need to combine live OneStream data with data from external sources or other Excel files within the same workbook;
3. Advanced Excel Functions: When you need to leverage highly technical Excel features like Goal Seek, Solver, or specific advanced charting types that are not fully supported by the internal Spreadsheet feature;
4. Complex Report Formatting: For highly customized, production-quality financial reports that require the full fidelity of desktop Excel's formatting, printing, and charting capabilities.

In summary: if a user needs the full, uncompromised power of Excel (VBA, Solver, etc.), they must use the Excel Add-in. If a user only needs basic Excel functionality, ad-hoc reporting, and data submission inside the OneStream platform for a seamless experience, the Spreadsheet feature is all they need to use.