• B-eye Solutions

7 Benefits of a single CPM platform to make the CFO’s life easier

Updated: Jun 25, 2019

Today’s CFOs play multiple challenging roles. These are also very diverse in nature. Apart from the traditional roles of running the finance department effectively, timely and accurate closing of books and compliance with regulatory requirements, CFOs as leaders and strategists are required to take tough decisions that others cannot.

To take these decisions, CFOs rely on:

  • Financial Consolidation and Reporting

  • Integrated budgeting, planning and forecasting

  • Profitability and cost analysis with allocations

  • Analytics and dashboards

Historically, CFOs have addressed these needs through multi-vendor solutions deployment. This involves the following:

  • separate applications

  • compatibility issues between applications

  • data across multiple data warehouses and data cubes

  • different metadata structures across the different applications

  • complexity in data integration

  • different security setup across different applications

The best way to address these complexities are by moving to CPM 2.0. OneStream XF is a natural must- have choice for CFOs.

The benefits of OneStream XF are the following:

  • Single application for multiple use case scenarios like consolidation, planning, budgeting, forecasting, account reconciliations, tax provisioning, close management, profitability and cost management, dashboards etc. and the list goes on. Click here for more details

  • Single application to meet local and corporate needs by using extensible dimensionality

  • Advanced and centralized master data management across the entire application

  • Ease in data integration through the flexible built-in data transformation capabilities

  • Data blending capabilities removing the necessity of multiple external cubes and data marts

  • Common security setup matrix across the platform

  • Single platform to learn for users, power users as well as administrators that can be easily leveraged across the use case scenarios

Some of the other benefits are below:

  • No additional cost for any new use case scenarios due to named user licensing across the platform

  • Guided workflow with task management across the entire platform making it easier for users

  • Drill through and drill back capabilities across the entire application

  • Flexibility in deploying the use case scenarios. So you could start with any of the use case scenarios and continue to gain better ROI with every additional scenario implementation

  • Reducing the effort of programming and customization by reusing already deployed solutions

  • Tight integration with Microsoft Excel, PowerPoint and Word

  • Machine learning capabilities

  • Deploy as you like - on premise or cloud

Nowadays, you need to only use one CPM platform for all your financial planning and consolidation needs.

Are you looking for more insights on CPM implementations? Contact us today for more information.

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