OneStream XF is a unified SmartCPMTM platform solution, it is not a siloed set of solutions that are fused together. OneStream XF solutions can be expanded upon, extended, and in a very real sense – blended together to meet the needs of a data consumer.
Nucleus Research takes a different approach to their vendor rankings vs. other IT analyst firms. Through the analysis of user experiences, Nucleus evaluates software vendors based on functionality and usability – key drivers of value – and places them into four categories: Leaders, Experts, Facilitators, and Core Providers.
Enterprise-class consolidation software applications provide intercompany eliminations that are powerful enough to handle sophisticated business needs yet allow for easy reconciliation. Not all software that claims to do financial consolidations provides both, and in some cases, it provides neither.
Intercompany transaction volume can be significant and difficult to identify. To ensure all this activity is identified, eliminated and documented correctly for auditors requires a detailed system of controls.
Upgrades to modern ERP, CRM and HCM systems have helped many organizations improve their transactional processes. However, many are hindered in gaining efficiencies in their management processes due to reliance on legacy corporate performance management (CPM) applications.
Straight aggregation engines are not designed for the complexities of financial consolidation, currency, eliminations, consolidation status, cash flow, and entity adjustments that only apply to specific hierarchical roll-ups that can be critical for true statutory reporting compliance. It doesn’t mean that you can’t solve some of these problems with a straight aggregation system, the question …
The limitations inherent in legacy CPM applications may be one of the reasons CPM software often gets deployed in Finance and doesn’t get into the hands of managers in other departments. If the software is too expensive, difficult to deploy, and not easily extensible – expanding beyond Finance is challenging.
There was a time when all cash flow reports were done apart from the trial balance in a tool like Excel. The reasons were, among others, that most consolidation systems could not calculate currency translation and intercompany eliminations correctly and easily. This made writing a cash flow report very difficult. But times and technologies have …
Cash Flow Reporting – The Power of a Flow Dimension Read More »
In most organizations, account reconciliations are performed as a parallel process to the financial consolidation, close and reporting cycle, either in spreadsheets or an account reconciliation system that’s separate from the consolidation and reporting system. This approach limits visibility into the entire set of closing activities, leads to inefficient communication, time lags, and gaps between …
Account Reconciliations Made Easier with OneStream Read More »
Organizations using legacy applications often struggle with long budget iterations, lack of sufficient supporting detail, and limited reporting capabilities. All of this results in excessive time and effort, and costs, spent on annual budgeting – only to arrive at an approved budget that’s obsolete shortly after its completed. There has got to be a better …