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ratings:
Length:
18 minutes
Released:
Mar 25, 2024
Format:
Podcast episode

Description

In this episode, Andy dives into the transformative power of OneStream in addressing three critical challenges faced by the Office of Finance: the inefficiency of managing multiple-point solutions, the burden of technical debt, and the need for flexibility in financial reporting. Through expert insights, Andy illuminates how OneStream's unified platform not only streamlines financial operations but also significantly reduces the total cost of ownership and enhances business adaptability with its innovative approach to corporate performance management.   Key Highlights: [00:01 - 03:21] Complexity in Financial Operations: Addressing Challenges CPM solutions are faced with evolving challenges. Importance of addressing these challenges for efficient financial operations. Overview of three key challenges: multiple-point solutions, technical debt, and inflexible systems.   [03:22 - 09:20] Unified Financial Solutions Prevalence of disparate systems leading to inefficiency. Difficulty in integrating and consolidating data across platforms. OneStream's unified platform approach to solve integration issues.   [09:21 - 13:10] Technical Debt: OneStream's Maintenance Solutions Accumulation of outdated or costly-to-maintain systems. Dependency on key personnel for system management. OneStream's financial intelligence reduces maintenance costs and simplifies data management.   [13:11 - 19:38] Flexibility in Systems: OneStream's Adaptive Dimensionality Legacy systems hinder adaptability to business changes. Customized solutions create barriers to system evolution. OneStream's extensible dimensionality offers flexibility and operational relevance across different business units.   [19:38 - 20:56] Closing Segment Summary of the three main challenges and OneStream's solutions. Emphasis on the benefits of a unified CPM platform. Encouragement for exploring OneStream to address financial system challenges.   If you liked this episode of the show, CPM Customer Success, please LEAVE A 5-STAR REVIEW, like, share, and subscribe!   Get in touch with Andy: Email: Andy.Smetana@NovaAdvisory.com LinkedIn: https://www.linkedin.com/in/andy-smetana/   Thank you for tuning in!   Tweetable Quotes: “OneStream is really one financial stream. It's a platform, and it's the first and only platform built solely for finance.”  - Andy Smetana   “OneStream can read data from across the business landscape, it can enrich it, it can summarize or aggregate data, consolidate data, can roll it up by different views of a business, whether that be by region or country, or product lines.”  - Andy Smetana   “OneStream is designed to solve for those inflexible system problems. And it does that in one primary way through a proprietary term called extensible dimensionality.” - Andy Smetana
Released:
Mar 25, 2024
Format:
Podcast episode

Titles in the series (9)

CPM Customer Success is a OneStream software focused podcast for Finance executives. The purpose of this podcast is to help Office of Finance Executives fix their financial systems and Processes with OneStream, so they can Improve their Corporate Performance, WITHOUT spending nights and weekends in the office. Whether you are a Chief Financial Officer (CFO), Vice President (VP) of Finance, Accounting, Controller or Financial Planning and Analysis (FP&A), Director, Manager or leader in your organization, we'll have OneStream related content for you. Whether referred to as Enterprise Performance Management (EPM), Business Performance Management (BPM), Finance and Performance Management (FPM) or CPM solutions you are in the right place. This podcast is less about the How to implement the OneStream technology, and more about the Why, business results achieved, Customer Success stories and lessons learned. Weekly we'll speak with thought-leaders who are: 1) Customers and clients having already implemented OneStream's Financial Close and Consolidation, Budgeting, Forecasting, Financial Analytics, Reporting and/or solutions 2) Nova Advisory implementation advisors, executives, and leaders 3) OneStream subject matter advisors