Case Studies Flow Traders Streamlines Financial Reporting with OneStream

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	Flow Traders Streamlines Financial Reporting with OneStream

Flow Traders Streamlines Financial Reporting with OneStream

Technology Category	Analytics & Modeling - Predictive Analytics Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation Quality Assurance
Services	Software Design & Engineering Services System Integration
Challenge	Flow Traders, a rapidly growing principal trading firm, faced significant challenges in managing their financial consolidation and reporting processes. The company, which went public in 2015, needed to address the increasing complexity and frequency of financial reporting to stakeholders. The reliance on Excel® for these tasks led to errors and inefficiencies, especially as the finance team expanded. The primary objective was to eliminate the use of Excel® and transition to a more reliable and unified source of truth for financial data. This shift was essential to support the company's growth and ensure accurate, timely reporting. Read More
About Customer	Flow Traders is a publicly listed principal trading firm that specializes in providing liquidity in Exchange Traded Products (ETPs) globally. Founded in 2004 and headquartered in Amsterdam, the company has expanded its presence with satellite offices in New York, Singapore, and Cluj. Flow Traders has experienced rapid growth, particularly after going public in 2015. The firm is known for its expertise in trading and its commitment to leveraging technology to enhance its operations. With a growing finance team and increasing demands for accurate financial reporting, Flow Traders sought to modernize its financial consolidation and reporting processes. Read More
Solution	Flow Traders selected OneStream as their corporate performance management (CPM) software solution after a thorough evaluation of five potential solutions. The implementation aimed to automate and streamline the financial consolidation process, reducing the reliance on error-prone Excel® files. OneStream was chosen for its comprehensive platform capabilities, including financial data quality management and FX calculations. The implementation, led by Sonum / Finext, was executed swiftly to meet the company's tight deadlines. The project involved significant outsourcing to maintain the desired pace and ensure all necessary steps were completed efficiently. The collaboration with Sonum / Finext, a leading implementation partner in the Netherlands, was highly effective, resulting in a smooth and orderly data validation process. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Platform as a Service (PaaS) - Data Management Platforms

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Quality Assurance

Services

Software Design & Engineering Services

System Integration

Challenge

Flow Traders, a rapidly growing principal trading firm, faced significant challenges in managing their financial consolidation and reporting processes. The company, which went public in 2015, needed to address the increasing complexity and frequency of financial reporting to stakeholders. The reliance on Excel® for these tasks led to errors and inefficiencies, especially as the finance team expanded. The primary objective was to eliminate the use of Excel® and transition to a more reliable and unified source of truth for financial data. This shift was essential to support the company's growth and ensure accurate, timely reporting.

About Customer

Flow Traders is a publicly listed principal trading firm that specializes in providing liquidity in Exchange Traded Products (ETPs) globally. Founded in 2004 and headquartered in Amsterdam, the company has expanded its presence with satellite offices in New York, Singapore, and Cluj. Flow Traders has experienced rapid growth, particularly after going public in 2015. The firm is known for its expertise in trading and its commitment to leveraging technology to enhance its operations. With a growing finance team and increasing demands for accurate financial reporting, Flow Traders sought to modernize its financial consolidation and reporting processes.

Solution

Flow Traders selected OneStream as their corporate performance management (CPM) software solution after a thorough evaluation of five potential solutions. The implementation aimed to automate and streamline the financial consolidation process, reducing the reliance on error-prone Excel® files. OneStream was chosen for its comprehensive platform capabilities, including financial data quality management and FX calculations. The implementation, led by Sonum / Finext, was executed swiftly to meet the company's tight deadlines. The project involved significant outsourcing to maintain the desired pace and ensure all necessary steps were completed efficiently. The collaboration with Sonum / Finext, a leading implementation partner in the Netherlands, was highly effective, resulting in a smooth and orderly data validation process.

Impact #1	The implementation of OneStream has significantly improved the reliability and accuracy of Flow Traders' financial consolidation process. The platform's comprehensive capabilities have reduced the need for manual data checks, providing peace of mind to the finance team.
Impact #2	OneStream's FX capabilities have automated the calculation of foreign currency corrections, a task previously done manually, further enhancing the efficiency of financial reporting.
Impact #3	The platform's transparency and accessibility have enabled the finance team to generate standard reports, dashboards, and ad hoc analyses that meet the organization's information needs, allowing more time for controlling and less on administrative tasks.

Impact #1

The implementation of OneStream has significantly improved the reliability and accuracy of Flow Traders' financial consolidation process. The platform's comprehensive capabilities have reduced the need for manual data checks, providing peace of mind to the finance team.

Impact #2

OneStream's FX capabilities have automated the calculation of foreign currency corrections, a task previously done manually, further enhancing the efficiency of financial reporting.

Impact #3

The platform's transparency and accessibility have enabled the finance team to generate standard reports, dashboards, and ad hoc analyses that meet the organization's information needs, allowing more time for controlling and less on administrative tasks.

Benefit #1	Faster consolidation and reporting processes.
Benefit #2	Increased data quality and reduced errors.
Benefit #3	Streamlined management reporting.

Benefit #1

Faster consolidation and reporting processes.

Benefit #2

Increased data quality and reduced errors.

Benefit #3

Streamlined management reporting.

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Overview

Flow Traders Streamlines Financial Reporting with OneStream

Operational Impact

Quantitative Benefit