You Switched to OneStream Software for Financial Management — Now What?

Financial charts showing growing revenue on touch screen

Your company is making the transition from a legacy CPM software solution or Excel spreadsheets to the OneStream XF software platform. However, you’re not sure how to get the most out of the software to support the financial and reporting functions required of the CFO or VP of Finance at a Fortune 500 or enterprise company.

First, remember that your company made the right decision migrating to OneStream — a high-level CPM software solution that fits modern business. You will achieve greater insight into your financials, more accurate forecasting, and optimal budget support.

To get to the desired end goal of using OneStream software effectively, consider taking a few preliminary steps.

1. Determine Your Greatest Need for Financial Support

Through our company’s extensive experience implementing OneStream XF software, we know that every company has a different starting point for financial management. And, no company goes through the same journey to achieve effective use of the software.

We also have extensive experience working with financial executives during implementation. It is clear to us that every financial team is in a different position with different needs.

When taking the first bite out of the apple, consider your greatest need or most immediate need to support financial management.

  • Some companies start with Consolidations
  • Some companies start with Budgeting & Forecasting

2. Evaluate the Process and Continue to Refine

After completing the first round of consolidations or budgeting & forecasting, take time to evaluate the process.

  • What steps took longer than expected?
  • Was your team able to use the software with ease?
  • Was the information generated in the system accurate and reliable?
  • Were there unforeseen issues using a new software platform for the first time?

Gather as much feedback as possible about the first live run of the OneStream software for financial management. Then, feed this information back into your process to refine your approach.

3. Continue Advancing to the Next Most Important Financial Process

Refining the approach is about building confidence to use a new software platform effectively and efficiently. Once your team is confident in their ability to utilize the software to support your primary need, consider advancing toward the next phase of implementation.

One of the advantages of working with OneStream is that you can add functionality to match your evolving needs. The extensibility allows you to implement additional software on a step-by-step basis so that you are not wasting resources or creating unnecessary costs trying to implement an entire set of tools before you’re ready.

Once you are ready, you can advance to the next phase of financial management tools to achieve greater insight into your data, produce necessary reports, and perform budgeting and forecasting functions to drive company growth.

Talk to HollandParker About Your Current Step in the Journey

HollandParker is a platinum-level OneStream implementation partner. Because our entire business is OneStream XF software implementation, we understand the intricacies and nuances of using the software for financial management.

Additionally, our team of managers and consultants have deep financial knowledge to match up your specific need with the functionality of OneStream to create the optimal approach for your company.

No matter where you are on your OneStream journey, we are available to support your company and to help you get the most out of the software. Contact our team today to help us better understand your needs. We can help you unlock the full capabilities of OneStream XF software.