OneStream Software, which has its North American headquarters in Birmingham, has introduced a new automated narrative reporting approach to financial reporting within the OneStream platform.
OneStream’s Narrative Reporting, according to the company, allows finance leaders to perform live analysis of corporate performance drivers. It also allows users to review and edit traditionally disjointed data and documentation within the OneStream platform.
“CFOs are facing increased expectations to drive the business beyond finance, which puts pressure on finance teams to eliminate risk, build trust, and drive quicker, more accurate reporting,” says Tom Shea, CEO of OneStream.
“Today’s news underscores how we’re making a traditionally disjointed and lengthy narrative reporting process easier, centralized and more collaborative than ever before, thereby increasing the strategic impact of the office of the CFO.”
By unifying and streamlining report creation, from narrative assembly to data analysis and editing, finance leaders can use live OneStream data to drive transparency, confidence, and contextualization behind financial data, OneStream says. Key features of the new Narrative Reporting capability include:
Centralized Narrative Report Assembly: Narrative Books are unified within the OneStream platform to streamline report content, create live analysis, and deepen collaboration on report narratives to effectively communicate corporate performance.
Live Reporting Analysis: Analyze and gather financial context to reports, charts, spreadsheets, and documents within Narrative Books that is linked live to validated OneStream data directly in the report.
Reduced Risk and Reporting Errors: Use the same OneStream interface for data, workflows and controls to eliminate the risks and costs associated with copying, pasting, and managing data across multiple tools and solutions.
Automated Processes: Embed Narrative Reporting into the close, planning, and other workflow processes with built-in approvals to save time and ensure accuracy.
Collaborate with Confidence: Collaborate on rich, formatted Narrative Books with the familiarity of Microsoft Office. Add comments, track changes and view all activities to streamline approvals and minimize reporting errors.
For more information, visit onestream.com.
