OneStream is a powerful financial platform that can help any business streamline their consolidation, planning, reporting, data quality, and financial signaling. To further expand on these areas, the OneStream MarketPlace Solutions were developed. The OneStream MarketPlace has more than 50 pre-configured solutions to help, including financial close solutions, productivity solutions, and planning and analysis solutions.
Transaction Matching is a MarketPlace solution that will assist with your company's close and reporting processes. The Transaction Matching and Account Reconciliation solutions are included as part of the OneStream Financial Close. As such, it provides a single, unified solution that utilizes one set of shared tables.
This solution enables you to quickly match transactional data from different sources. As a result, you can easily identify differences, improve your account reconciliations, and accelerate the closing process.
Identify and resolve unmatched transactions by leveraging a rules-driven matching approach that can be configured to your unique business needs. The system even allows you to set up approval requirements and insert comments or attachments so that your team has the information needed to create accurate reports.
OneStream's Transaction Matching solution can speed up your closing process and reduce the time it takes to create valuable management reports. For example, accelerating transaction matching will enable you to quickly prepare account reconciliations and identify any discrepancies sooner than later. Seamlessly Integrate Data
With the Transaction Matching solution , you can seamlessly integrate data from across your organization. Transaction data can be leaded from various sources for matching, so you can eliminate data silos and improve efficiency.
If your organization uses flat files, those can be loaded directly into the tool for transaction monitoring. However, the most efficient way is to use the direct connect method so that your transaction data feeds directly into the OneStream solution.
The tool is also flexible when it comes to when data is loaded. You can choose to import it daily, weekly, or monthly depending on the needs of your organization.
Data stacking and splitting are performed in the tool to support matching, too, which makes the integration of data even more comprehensive.
Another benefit of the Transaction Matching solution is the ability to improve the accuracy of your financial statements and visibility into your company data. Ultimately, this will lead to fewer write-offs and unexplained differences that could cause issues with audits in the future.
By leveraging OneStream's unified platform, this tool can reduce both data latency and costs. It includes a variety of built-in reports and analytics, such as extensive results information, a matching scorecard, and related analysis.
Likewise, you can use the tool to present KPIs on matches and other transaction data. The pivot reports can also be exported so that as well you can share them in presentations and other management systems.
OneStream's Transaction Matching offers a solution for matching transaction-level data. It relies on a rules-driven approach that automates the process but can still be configured based on the needs of your organization. You can set up transaction matching on different schedules, like weekly, monthly, or even daily.
Use multiple data sources to combine into a Match Set or split across multiple with various security access groups. Unmatched transactions can be manually adjusted after the process is complete, and you can include supporting attachments and notes to explain why they did not automatically tie.
As a result, this solution will improve your financial closing process, auditability, and accuracy of reporting.
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OneStream aligns to your business needs and changes more quickly and easily than any other product by offering one platform and one model for all financial CPM solutions. OneStream employs Guided Workflows, validations and flexible mapping to deliver data quality confidence for all collections and analysis while reducing risk throughout the entire auditable financial process.