Transforming Finance with OneStream
We leverage OneStream’s unified platform to fundamentally transform financial operations, providing a comprehensive suite of solutions for integrated planning, budgeting, forecasting, and automated financial close. By unifying all critical EPM processes and data within a single application, we help organizations eliminate the fragmentation of multiple point solutions and spreadsheet-based processes. Our services are meticulously designed to enhance financial consolidation, improve reporting, and enable advanced analytics, empowering organizations to achieve greater efficiency, unparalleled accuracy, and real-time insights that are crucial for strategic decision-making in a rapidly evolving market.
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Financial Planning & Analysis (FP&A)
Design and implementation of integrated planning, budgeting, and forecasting models across departments.
Development of driver-based, rolling forecasts aligned with organizational KPIs.
Real-time scenario modeling and sensitivity analysis for better decision-making.
Automation of budget preparation, approvals, and variance analysis workflows.
Deployment of OneStream’s unified planning modules for enterprise-wide FP&A integration.
Financial Close & Account Reconciliation
Automation of month-end and year-end financial close cycles using OneStream’s Task Manager and Close Manager tools.
Centralized reconciliation of general ledger accounts with built-in controls, certification workflows, and audit trails.
Streamlining intercompany eliminations, journal entry processing, and manual adjustment tracking.
Reduction of close cycle timelines while improving accuracy and audit readiness.
Consolidation & Group Financial Reporting
Implementation of statutory and management consolidations in compliance with IFRS, IPSAS, and GFS standards.
Handling complex ownership structures, partial consolidations, and multi-currency environments.
Automation of minority interest, equity pickup, and dynamic consolidation entries through OneStream.
Production of fully auditable consolidated reports with traceable data lineage.
Costing and Profitability Analytics
Development of robust cost allocation and profitability models for products, services, and functions.
Multi-dimensional cost tracing and visibility at service center, program, or citizen-service levels.
Implementation of activity-based costing (ABC) and time-driven costing models through OneStream’s analytic models.
Empowering finance teams with insights into operational efficiency and service delivery performance.
Financial and Compliance Reporting
Creation of centralized, automated reporting frameworks with narrative management capabilities.
Generation of internal management reports, board packs, and regulatory reports from a single data source.
Ensuring consistency across operational, statutory, and performance reports through OneStream’s Extensible Dimensionality®.
Customization for compliance with government-specific financial reporting formats (e.g., MoF templates, IPSAS formats).
Tax Provisioning and Reporting
Integration of tax data within financial systems for accurate, real-time tax provisioning and deferred tax calculations.
Design of tax reporting frameworks aligned with local and international tax standards (e.g., BEPS, OECD frameworks).
Automation of tax reconciliations and filings through OneStream’s extensible application layers.
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Frequently Asked Questions
What exactly is Finance Transformation through Technology?
It’s about optimizing finance processes, systems, and structures using advanced tech like AI, automation, and cloud. The goal is to boost efficiency, accuracy, insights, and strategic value, transforming finance into a key business partner.
Why should my organization consider Finance Transformation through Technology?
Consider it for enhanced efficiency, cost reduction, improved data accuracy, deeper financial insights for better decision-making, stronger compliance, and risk mitigation. It helps reposition finance as a strategic asset.
What types of technologies are typically involved in this transformation?
Common technologies include Robotic Process Automation (RPA), Artificial Intelligence (AI) and Machine Learning (ML), Cloud-based Enterprise Resource Planning (ERP) systems, Advanced Analytics and Business Intelligence (BI) tools, and integrated planning software.
How long does a typical Finance Transformation project take?
Project duration varies significantly based on scope and complexity. It can range from a few months for targeted automation to several years for a complete overhaul of the finance function and ERP system.
What are the key benefits of undergoing Finance Transformation?
Key benefits include increased efficiency, reduced costs, improved data accuracy, enhanced insights for decision-making, better compliance and risk management, and shifting finance’s focus to strategic analysis.
Will this transformation lead to job losses within my finance department?
While some manual tasks are automated, the aim is to reallocate staff to higher-value, strategic activities like analysis and planning. It typically transforms roles, often requiring upskilling, rather than eliminating positions.
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