Financial Solutions
Financial Consolidation
A more precise view of the financial and equity situation of your multi-company group with OneStream
Identified Challenges
The financial close and consolidation process can be relatively easy in a small business using a single, centralized ERP system with a single currency, and a simple legal entity structure. But as organizations grow and evolve, the process can become quite complex. Some of the key challenges are:
- Multiple data sources
- Currency conversion
- Compensation between companies
- Partial or cross ownership
- Tax provision
Solution
OneStream is a unified platform that simplifies the financial close and consolidation process of your multi-company group.
It replaces legacy and fragmented applications to streamline consolidation while ensuring better data quality.
Get a complete view of your multi-company group
Identify the economic participation of your subsidiaries
With OneStream’s unified finance solution, your finance team can craft new global strategies and set expectations for each line of business
Streamline financial close
By unifying financial and operational data in one place, closing and consolidation are faster and more reliable.
Consolidate the present to prepare for the future
Analyze financial data and streamline planning, budgeting and decision-making.
Increase confidence in financial results
Get audit trails with guided workflows that responds to regional and global regulations. Meet IFRS and GAAP standards.
Scalable platform for complex organizations
Leave fragmented solutions behind and ensure data-quality
OneStream includes guided end-user reports, ad hoc formats, integration with Excel, Office, and interactive dashboards.Automate regulatory documents, presentations, and reports creation with the following key capabilities:
*Multi-company consolidation with OneStream
- Financial and legal reports (GAAP, IFRS)
- Advanced currency conversion and budget exchange rate
- Automated elimination between companies
- Income tax estimates for each line of business
- Corporate hierarchy and ownership percentages
Your financial analysts are competent, pay them to analyze the information, not to consolidate it.
Data Quality as an integral part of your core system
Simplify financial data collection, consolidation, and validation
Not only is it important to prepare reports quickly, they also needs to be accurate, exact, and reliable. Data Quality is not just an option, it’s a requirement to ensure the continuity of your business. Implement strict controls to maintain the integrity of your business.
Transparency and ease of use
- Integration with multiple ERPs
- Visibility of journals, adjustments, and eliminations at any stage of the consolidation process
- Ease of use with guided and personalized workflows according to the user and the line of business
- Error alerts
Confidence in financial data
- Complete audit trails
- Support documents broken down to the transactional system
- Reduced costs of compliance, internal controls and audit requirements
- Presentation of statutory reports to regulatory institutions
Tax forecasts
Automate reports and export data to tax compliance systems. Ensure consistency in tax calculations with the collection and validation of:
- Current taxes
- Deferred taxes
- Effective tax rate analysis
- Monitoring of tax losses and taxes
- Credits
- Current and deferred taxes
Workflows and Tasks
Ensure successful consolidation within a unified platform
- No more spreadsheets
- View progress
- Integrated messaging
- Segregation of duties
* OneStream Task Manager
A single source of truth
Multiple reporting and analysis capabilities on a single platform
OneStream includes guided end-user reports, ad hoc formats, integration with Excel and Microsoft Office, and interactive dashboards.
Automate the creation of regulatory documents, presentations, and files. Download the brochure
Success Story
Discover how Traxion Group, leader in the transport and logistics industry, achieved greater visibility of the data, helping to consolidate the financial close of all its business lines with OneStream unified platform.
Closing and financial consolidation is the first step toward planning
