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Financial Close and Consolidation Software

Simplify the Financial Close

Conquer the complexity of the financial close and consolidation process and deliver rapid insights to internal and external stakeholders. Replace Excel spreadsheets and standalone financial consolidation software with a modern, unified platform.

Streamline Financial Close and Consolidation

Automate data loading, reconciliation and reporting. Close faster with pre-and post-load validations, immediate identification of errors and quick resolution of data quality issues.

Increase Confidence in Financial Results

Deliver 100% transparency into data, metadata and process changes with unparalleled audit trails and drill back capabilities for complete confidence and control.

Enhance Financial Insights

Enhance insight into the real FX impact of currency on balance sheet accounts, track detail movements and changes for complete cash flow reporting.

Key Features

Global Financial Consolidation and Reporting

OneStream supports true statutory financial reporting requirements including US GAAP, IFRS, Multi-GAAP and local statutory requirements, with the most sophisticated financial intelligence available.

  • One set of data drives multiple GAAP/IFRS reporting formats.
  • Cell-level audit trails provide control without impacting performance.
  • Out of the box support for complex ownership and equity pickup.

Powerful Intercompany Eliminations

Intercompany (IC) eliminations automatically occur at the first common parent in every alternate hierarchy. Improve insight and visualize the impact of acquisitions, and other business changes.

  • Automatic IC eliminations at the first common parent for all hierarchies without complex rules.
  • Each intercompany party and counterparty simultaneously views local, counterparty and reporting currencies to instantly collaborate and resolve IC discrepancies.
  • Corporate can always see resolution state with pre-built intercompany management reports that provide visibility to IC status.

Complete Foreign Exchange and Cash Flow Reporting

Improve insight into the real FX impact of currency on every balance sheet account through roll forward members that detail movements and changes for complete cash flow reporting.

  • Identify and report on new cash flow and profitability sources by corporate, division, customer, product, region or channel.
  • Auto-deliver currency translation by account.
  • Automated settings for historical dollar overrides.

Customers We Work With

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Industry Recognition

Gartner Peer Insights Customers’ Choice

Buying an enterprise IT solution is no simple task; get advice from others who have been there! Read our clients’ feedback on Gartner Peer Insights and see why we were named a Customers’ Choice in 2020 Gartner Peer Insights ‘Voice of the Customer’: Cloud Financial Close Solutions!

Gartner Peer Insights Customers’ Choice constitute the subjective opinions of individual end-user reviews, ratings, and data applied against a documented methodology; they neither represent the views of, nor constitute an endorsement by, Gartner or its affiliates.

We Are Rated On
Cloud Financial Close Solutions
As of May 20, 2024

Delivering 100% Customer Success

With OneStream, consolidation is much faster, with fewer errors, providing the Finance team more time to analyze financials—which is a huge improvement. OneStream has shortened the close process by three to four days, cutting time spent on reporting by 50 percent. The ability for users to view and drill into data is great, they can answer questions faster and focus on real issues. Information is timelier, so there’s deeper analysis and better problem-solving.
Michelle Ford | Finance Director

Related Resources

English Video | Financial Close and Consolidation with OneStream
View Video
English Mastering the Financial Close
View White Paper
English BARC Study: New Value for the CFO
View Analyst Report
English Interactive Solution Brief: Conquering Complexity with Task Manager
View Solution Brief
All Resources


In today’s volatile and sometimes disruptive economic environment, CFOs and finance organizations need to be able to lead the organization’s decision-making processes with insight, speed and confidence. Yet many finance organizations are still bogged down by inefficiencies in routine processes such as the period-end financial close and reporting cycle and are unable to shift their time to value-added analysis and decision support.

The financial close, consolidation and reporting process can be relatively easy in a small enterprise that is using a single, centralized GL/ERP system, operates in a single currency, and has a simple legal entity structure. However, as organizations grow and evolve in sophistication, the process can become quite complex. In a mid-sized to large enterprise, the financial close and reporting process spans the following activities:

  • Closing out the sub-ledgers (e.g., accounts payable, accounts receivable, fixed assets) and general ledgers (GLs) at multiple locations
  • Collecting and consolidating financial results from multiple locations and systems
  • Performing account reconciliations, booking the tax provision
  • Producing financial and management reports
  • Completing statutory reporting and filings to regulators

As organizations grow and evolve in complexity, the financial close and reporting process can cross multiple locations and departments, involve multiple systems, and consume a great deal of the finance team’s time and resources. Most organizations execute the financial close and reporting process on a monthly basis, with additional tasks and even more rigor on a quarterly basis. The year-end close then requires yet even more time and effort.

Any time and resources freed up from the mechanics of the process can be allocated to value-added activities, such as analyzing financial/operating results and supporting strategic business decisions across the enterprise. Moreover, having the ability to execute an efficient financial close and deliver timely and accurate financial and operating results allows CFOs and finance executives to lead the organization’s decision-making processes with insight, speed and confidence.

While accounting departments performed consolidation and reporting on a manual basis for many years, in today’s world there are several types of software tools used to support these processes:

  • Spreadsheets – they are cheap and widely available, familiar and easy to use. However, they are error-prone, missing key financial consolidation functionality, and have no audit trails.
  • GL/ERP System – the general ledger module found in most ERP systems has currency translation, journals, and basic intercompany eliminations. However, they were not designed to integrate data from other GLs, don’t support multiple financial consolidation hierarchies and offer limited reporting capabilities.
  • Financial Consolidation Software – is designed to integrate data from multiple GL/ERP systems, has advanced financial consolidation features, robust reporting, and full audit trails.

Purpose-built financial consolidation software applications found in today’s corporate performance management (CPM) software solutions are becoming the preferred approach for mid-sized to larger enterprises. Purpose-built financial consolidation tools also provide easy to use reporting capabilities that can automatically generate consolidated financial statements, as well as management reports, dashboards, board books, presentations and spreadsheet-based analysis in a fashion that is not conceivable in a transactional system.

While these systems have historically been deployed in on-premises data centers, they are now available as cloud or software as a service (SaaS) offerings, making them easier than ever to deploy and manage. A good example of a purpose-built application for financial close, consolidation, reporting, and more, is OneStream’s Intelligent Finance Platform.

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