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The modern business landscape is characterized by rapid change, increasing complexity, and relentless competition. For finance departments, this translates into a constant need to adapt, innovate, and provide strategic insights that drive business performance.
Traditional Enterprise Performance Management (EPM) systems can often be overly reliant on spreadsheets and fragmented data. This can put constraints on your finance function. To achieve greater efficiency, you not only need a powerful solution but also the right help to get the most out of it.
The Limitations of Traditional EPM
Many organizations still grapple with the limitations of outdated EPM processes. These challenges often include:
- Data Silos: Information resides in disparate systems, making it difficult to gain a holistic view of performance.
- Manual Processes: Overreliance on spreadsheets leads to time-consuming manual data entry, consolidation, and reconciliation, increasing the risk of errors.
- Lack of Agility: Traditional systems are often inflexible, making it difficult to adapt to changing business needs or model new scenarios.
- Limited Insight: Basic reporting capabilities provide a rearview mirror perspective, hindering proactive decision-making.
- Compliance Headaches: Maintaining accuracy and auditability in a fragmented environment can be a significant challenge.
These limitations prevent finance from being a strategic partner to the business, hindering growth and increasing risk.
The Power of a Unified Platform: OneStream’s Foundation
OneStream provides a unified, modern platform for Enterprise Performance Management (EPM). This single platform can streamline critical financial processes, including:
- Financial Consolidation and Reporting: Automate and speed up the close process, ensuring accuracy and compliance.
- Planning, Budgeting, and Forecasting: Create driver-based plans, model different scenarios, and improve forecast accuracy.
- Account Reconciliation: Streamline the reconciliation process, reducing risk and improving efficiency.
- Reporting and Analytics: Gain real-time visibility into key performance indicators (KPIs) and drill down into the underlying data.
By unifying these processes on a single platform, OneStream eliminates data silos, reduces manual effort, and provides a single source of truth for financial data. This foundational strength allows businesses to gain a clearer picture of their current performance.
Taking EPM to the Next Level: The AIQOS Advantage
While OneStream provides a robust foundation for EPM, AIQOS can help enhance its capabilities, adding a layer of intelligence and service that unlocks even greater value.
AIQOS specializes in aligning OneStream’s powerful functionalities with your organization’s unique needs. From initial strategy formulation and system implementation to ongoing support and managed services, AIQOS provides comprehensive help at every step.
This tailored approach ensures a smoother transition from legacy systems to OneStream, minimizing disruption and accelerating your return on investment of OneStream.
Realizing a Strategic Finance Function
The combination of AIQOS and OneStream is more than a software upgrade or service; it’s a strategic shift. By partnering with AIQOS and utilizing OneStream, your finance department gains a clear advantage in transitioning from manual and fragmented processes to strategic financial management.
This partnership enables finance teams to significantly reduce the time spent gathering and validating data, shifting their focus towards insightful analysis and strategic guidance.
Preparing Your Finance Function for Tomorrow’s Challenges
Future-proofing your finance function requires proactive, strategic tools and an experienced partner who understands your needs. With AIQOS and OneStream, your finance team can confidently navigate volatility, rapidly adapt to changes, and deliver precise, actionable insights that directly impact business performance.
Together, AIQOS and OneStream equip your organization to expect future challenges, drive meaningful strategic decisions, and sustain long-term growth.
Photo by Towfiqu barbhuiya on Unsplash
