Case Studies Investment Technology Group (ITG) Enhances Financial Reporting with OneStream

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	Investment Technology Group (ITG) Enhances Financial Reporting with OneStream

Investment Technology Group (ITG) Enhances Financial Reporting with OneStream

Technology Category	Analytics & Modeling - Predictive Analytics Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries	Finance & Insurance
Applicable Functions	Business Operation Quality Assurance
Services	Software Design & Engineering Services System Integration Training
Challenge	ITG was using Oracle Hyperion Financial Management (HFM) and Financial Data Quality Management (FDM) for financial consolidation and reporting but was outgrowing the capabilities of these products. The system was becoming unstable due to infrastructure issues, causing downtime during critical periods. Upgrades had become painful and costly. Complex allocations had to be done outside the system and were difficult to support, and the system lacked the agility needed to respond to ongoing changes in the business. An impending software and hardware upgrade caused the ITG Finance team to evaluate their options. Read More
About Customer	Investment Technology Group (NYSE: ITG) is a global financial technology company that helps leading brokers and asset managers improve returns for investors around the world. They empower traders to reduce the end-to-end cost of implementing investments via liquidity, execution, analytics, and workflow technology solutions. ITG has offices in Asia Pacific, Europe, and North America and offers execution services in more than 50 countries. Read More
Solution	As the ITG team considered their alternatives, given their complex requirements their only choice was to either upgrade to the latest release of HFM or switch to OneStream. With Oracle HFM, upgrading to the most current release would not have provided the ITG team with any new capabilities. The on-premise solutions were fragmented, as were the cloud-based alternatives from Oracle. Customer support from Oracle was in decline, and future upgrades would continue to be costly and time-consuming. After doing a side-by-side comparison with HFM, the ITG team decided to convert to OneStream. Some of the key factors in the selection included the unified architecture of the platform, familiarity and ease of use, greater functionality, improved reporting, and built-in guided workflow for the users. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Finance & Insurance

Applicable Functions

Business Operation

Quality Assurance

Services

Software Design & Engineering Services

System Integration

Training

Challenge

ITG was using Oracle Hyperion Financial Management (HFM) and Financial Data Quality Management (FDM) for financial consolidation and reporting but was outgrowing the capabilities of these products. The system was becoming unstable due to infrastructure issues, causing downtime during critical periods. Upgrades had become painful and costly. Complex allocations had to be done outside the system and were difficult to support, and the system lacked the agility needed to respond to ongoing changes in the business. An impending software and hardware upgrade caused the ITG Finance team to evaluate their options.

About Customer

Investment Technology Group (NYSE: ITG) is a global financial technology company that helps leading brokers and asset managers improve returns for investors around the world. They empower traders to reduce the end-to-end cost of implementing investments via liquidity, execution, analytics, and workflow technology solutions. ITG has offices in Asia Pacific, Europe, and North America and offers execution services in more than 50 countries.

Solution

As the ITG team considered their alternatives, given their complex requirements their only choice was to either upgrade to the latest release of HFM or switch to OneStream. With Oracle HFM, upgrading to the most current release would not have provided the ITG team with any new capabilities. The on-premise solutions were fragmented, as were the cloud-based alternatives from Oracle. Customer support from Oracle was in decline, and future upgrades would continue to be costly and time-consuming. After doing a side-by-side comparison with HFM, the ITG team decided to convert to OneStream. Some of the key factors in the selection included the unified architecture of the platform, familiarity and ease of use, greater functionality, improved reporting, and built-in guided workflow for the users.

Impact #1	End-user training and acceptance was very smooth due to the familiar structure of OneStream compared to HFM.
Impact #2	The Guided Workflow capabilities of OneStream guide end-users through the key tasks they need to complete during the financial close process.
Impact #3	The ITG team is also taking advantage of several OneStream MarketPlace solutions, including the Postal Service solution and the Snippets solution.

Impact #1

End-user training and acceptance was very smooth due to the familiar structure of OneStream compared to HFM.

Impact #2

The Guided Workflow capabilities of OneStream guide end-users through the key tasks they need to complete during the financial close process.

Impact #3

The ITG team is also taking advantage of several OneStream MarketPlace solutions, including the Postal Service solution and the Snippets solution.

Benefit #1	Allocations that used to take hours are now completed in minutes and are executed dynamically as data is changing.
Benefit #2	Overall the financial close process has been improved by 1–2 days per month.
Benefit #3	Data load times are faster.

Benefit #1

Allocations that used to take hours are now completed in minutes and are executed dynamically as data is changing.

Benefit #2

Overall the financial close process has been improved by 1–2 days per month.

Benefit #3

Data load times are faster.

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Overview

Investment Technology Group (ITG) Enhances Financial Reporting with OneStream

Operational Impact

Quantitative Benefit