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Intercompany Eliminations and Communication

Why do all other solutions fail when it comes to really handling intercompany eliminations and discrepancies?

The first part is what we think of as table stakes, the ability to eliminate at the first common parent in every alternate hierarchy.  This seems like a no brainer because that is what a true financial aggregation engine does and what Hyperion Enterprise did in 1995.  That said, there are many vendors out there that now claim to be financial consolidation systems, but what we now know is that they do not eliminate at the first common parent automatically.  They require rules to be written on each IC entity and account in every alternate hierarchy or the need to identify all counterparties as part of setup. This would be unacceptable to an enterprise level customer that has many hierarchies and is continually adapting to change.  OneStream XF was designed on day one to auto IC eliminate at the first common parent in every hierarchy out of the box, no complex rules or setup.  What does this mean to you?  Your data will always be correctly consolidated in every hierarchy and correct when you look at the data live in the application. 

The next question becomes, what does it take to identify and correct intercompany discrepancies with other solutions? They require custom solutions designed by consultants that lack the defined and repeatable processes that Finance requires. They lack the necessary communication required to actually resolve the discrepancies.

OneStream XF recognizes that intercompany eliminations are more than producing an intercompany report. Intercompany details need to be in a format easily understood by each party. Each party needs two things:

  1. Visibility to variances in reporting, local and translated currencies.
  2. A communications platform to resolve the variance quickly and easily with the counter party.

OneStream XF delivers this intercompany elimination and communication functionality out of the box. Not only do business users have immediate notification of intercompany variances in local and translated currencies, they also have our OnePlace communications platform to instantly communicate with their counter party and resolve the discrepancy. Corporate has complete visibility to everything via packaged reports that show the intercompany variances, the communications between parties and the adjustments to correct the variances. This transparency and confidence ensures the correct action has been executed and delivers the Financial Intelligence you need to run your business more effectively.

Craig Colby

Craig was a founder of UpStream Software in January of 2000 and an original founder of OneStream Software. Craig has a Finance education and background, however, his passion is communicating value to customers. The key to delivering 100% customer success starts with effectively setting expectations with regards to the product, solutions, support and services. He has a passion for working with financial applications that combine ease of ownership, maintenance and use with the power to solve any complexity. Craig is committed to an organizational culture that makes it easy for customers and partners to do business with OneStream. He knows if you do business with OneStream, you will receive the attention and support you need to deliver success.