Conquering Complexity in Your Financial Close

Katie Shotbolt

Financial Accounting, McCain Foods

Extensibility is such a powerful feature of OneStream. By extending our corporate chart of accounts to the level of each unique GL system, the data in OneStream is both relevant and inclusive for all our regions. It allows corporate and regions to speak the same language. In our old world with SAP BPC, we were closing the books on Day six and now we’re closing at Day four. That’s something we are incredibly proud of and something OneStream has helped us achieve.

Hanno van Vuren

Controller, Hunkemoller

We went for OneStream because it is a platform-based application rather than a modular one. If we want to add additional processes, such as strategic planning, it will come under the same platform and license. That also means that the figures come from a single source, so we don’t
have to construct the data all over again.

Vanita Thornton

Sr. Director Global Operational Accounting & Financial Systems, Herbalife Nutrition

OneStream helps me evaluate internal transfer profit to bring the balance sheet back to the cost level. OneStream has enabled us to easily peel back the layers and eliminate the profit. Each country uploads their balances on day four or five, and we can finish consolidations and flux analysis by day nine.

Ryan Wild

VP, Global Technology & Solutions, The Carlyle Group

HFM premier support was expiring… it would have been a seven figure project to upgrade our existing Hyperion application

Johnson Outdoors

Lori Strangberg, Corporate Controller

The OneStream platform allowed us to deliver global financial consolidation, management reporting, guided workflows, and a robust planning solution all in one product and one application. The modern platform gives us the ability to adapt more quickly to business changes and deliver more value to the business.

Ed Goodwin

VP of Finance, Frank's International

To accommodate our complex requirements, Frank’s International leveraged the Extensible Dimensionality® of OneStream to capture rig name, product type, location, product vs. equipment rental and service and cost of revenue detail needed for planning purposes.

Pam Brady

Global Financial Business Analyst, AFL

Pushing accountability for data quality down to the line of business users with OneStream has improved efficiency at AFL and provided more time for value-added analysis of the business. This has been huge as it provides better visibility into the results and improved decision-making at every level in the organization.

John Alsobrook

Manager, Financial Systems, Fruit of the Loom

OneStream in the cloud has provided us the flexibility to address new user requirements more quickly than we could with HFM. Data mapping is much easier and audit capabilities are stronger. And the responsiveness of OneStream support has been amazing, addressing issues quickly and proactively helping us tune performance.

We all know that the financial close process has long been a critical activity allowing organizations to accurately record and report on their past performance. This accuracy is clearly not only essential for the organization to understand what has happened but also to ensure it meets the legal requirements to perform and publish a financial analysis. Considering the additional importance of using the actual data to seed planning and budgeting amongst other processes ― effective, timely and accurate close processes are no doubt in the best interests of every organization.

Read how finance leaders are examining the business changes that have occurred in recent years, and how they’ve navigated a way forward to increase the accuracy and effectiveness in the close process.

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