CPM Customer Success: Tips for Office of Finance Executives on their Corporate Performance Management journey Andy Smetana

This is a continuation of last week’s episode 007 for Manufacturing Finance leaders exploring OneStream’s capabilities.
This week’s episode 008 shifts focus to a discussion of OneStream's capabilities for Manufacturing Finance organizations, as OneStream’s Dave Collins, Director of Solutions Consulting and Global Alliances at OneStream, deep dives into achievable benefits of any Manufacturing organization faced with disparate systems and processes exacerbated by Supply Chain disruptions and rising global prices. The need for more impactful Manufacturing Finance professionals is evident, and OneStream offers solutions via its unified intelligent finance platform.

Dive into the world of advanced manufacturing finance in this episode where a panel of Manufacturing Finance leaders explores how OneStream’s unified platform provides insights into customer and product profitability that are not provided by point solutions.
Learn from multiple-time OneStream customer, Chad Pisha, CAO of IPS Corporation, as he shares insights and practical strategies to harness the full potential of OneStream for detailed financial analysis and decision-making. Greg Hertling, Nova Advisory Partner, also joins to discuss how top manufacturers are leveraging OneStream's capabilities to gain a competitive edge in a world filled with Supply Chain challenges, by modeling forecast scenarios.
Join us to transform your Manufacturing financial operations into a powerhouse of efficiency and precision.

In this episode, Andy introduces OneStream's unified financial operations platform, discussing its unique capabilities such as Extensible Dimensionality, data quality, analytic services, and the Solution Exchange. Highlighting customer success stories and the benefits of integrating operational and financial data, Andy emphasizes how OneStream simplifies corporate performance management. Listen for insights on enhancing financial processes and strategic planning.
 
Key Highlights:
[00:01 - 06:51] Introduction to the OneStream Revolution
OneStream's mission is to enhance corporate financial management.
The role of Nova Advisory as an exclusive OneStream integration partner.
 
[06:52 - 14:12] The Distinctive Edge of OneStream
Comprehensive financial management on a single platform.
The disruption OneStream introduces in the corporate performance management (CPM) space.
Key functionalities within OneStream: data quality engines, consolidation tools, and security models.
 
[14:13 - 22:30] Pioneering Features of OneStream Explored
The concept of Extensible Dimensionality for adaptable financial reporting.
Ensuring data integrity through OneStream's data quality and analytic services.
How the Solution Exchange mirrors an app store, enriching OneStream's ecosystem.
 
[22:31 - 28:52] Customer Success and Efficiency Gains
Detailed examples of efficiency improvements and successes from existing OneStream users.
The impact of financial signaling on proactive decision-making and operational analytics.
How OneStream's platform supports a wide array of financial processes in a unified manner.
 
[28:53 - 31:48] Closing Segment
Enhances decision-making with advanced reporting and real-time analytics.
Supports strategic planning and forecasting to navigate market changes effectively.
Ensures accurate financial reporting, meeting global regulatory standards.
The Solution Exchange offers a variety of solutions for business customization and growth.
 
If you liked this episode of the show, CPM Customer Success, please LEAVE A 5-STAR REVIEW, like, share, and subscribe!
 
Get in touch with Andy:
Email: Andy.Smetana@NovaAdvisory.com
LinkedIn: https://www.linkedin.com/in/andy-smetana/
 
Thank you for tuning in!
 
Tweetable Quotes:
“One of the reasons customers choose OneStream is that OneStream eliminates fragmented systems and the nightmare that evolved in their past.” - Andy Smetana
“OneStream's philosophy when it comes to working with data is to let the data live where it best belongs.” - Andy Smetana
“Extensible Dimensionality is the technical enabler that allows OneStream to support and enforce corporate standards and controls.” - Andy Smetana

In this episode, Andy dives into financial planning and analysis (FP&A) with Nova Advisory Partner Greg Hertling, focusing on using OneStream for forecasting the future. Greg shares insights on FP&A's pivotal role, data integration, and process efficiency within OneStream, addressing real client challenges and enhancing forecasting accuracy.
 Greg Hertling, Nova Advisory Partner, brings over 20 years of experience in Financial Planning and Analysis (FP&A). With expertise in OneStream, he excels in data integrations, workflow design, analytics, and planning modules. Greg is dedicated to delivering seamless FP&A solutions and ensuring client success.
 
Key Highlights:
[00:01 - 09:04] Career Background and Introduction to OneStream Solutions
Greg’s career transition from industry (accounting and financial planning) to consulting.
Experience in finance transformation and use of CPM tools.
Transition to OneStream practice after being impressed at a conference.
Overview of OneStream's capabilities in FP&A, including data presentation and analysis.
 
[09:05 - 16:49] Overview of Financial Planning and Analysis (FP&A) in OneStream
FP&A's role in data production and presentation.
OneStream's dimensionality and extensibility for tailored business models.
Importance of actionable data presentation for decision-making.
Ability to drill down into details and customize planning processes.
 
[16:50 - 27:34] Enhancing Forecasting Accuracy and Dealing with Client Challenges
Processes and checks in OneStream ensuring data integrity and visibility.
Use of workflows for repeatable and efficient processes.
Example of addressing a complex client challenge with OneStream's flexibility.
Integration of financial data from various sources into the OneStream platform.
 
[27:35 - 33:51] Closing Segment
Success factors include scalability, error reduction, and streamlined processes.
Importance of centralized data storage and reporting in OneStream.
Encouraging adoption by showcasing ease of use and benefits over spreadsheets.
 
If you liked this episode of the show, CPM Customer Success, please LEAVE A 5-STAR REVIEW, like, share, and subscribe!
 
Get in touch with Andy:
Email: Andy.Smetana@NovaAdvisory.com
LinkedIn: https://www.linkedin.com/in/andy-smetana/
 
Thank you for tuning in!
 
Tweetable Quotes:
“FP&A's job is to translate those activities into financials.” - Greg Hertling
 “Strategy is all about kind of looking ahead to future desired outcomes. And then reasoning back to create a plan or set of actions to achieve those outcomes. In my mind, FP&A is or should be at the heart of that process.”  - Greg Hertling
 “OneStream's ability to generate reports, graphs, and dashboards, gives FP&A the tools to present data in a way that drives decisions.” - Greg Hertling 

In this episode, Andy welcomes Dave Collins to discuss the complex landscape of CPM software. They dive into Dave's extensive background, from his early days at ComShare to his pivotal role at OneStream, highlighting the evolution of CPM solutions. The conversation covers the challenges businesses face with traditional ERP systems and modular solutions, emphasizing the benefits of OneStream's unified platform approach. Dave shares valuable insights on avoiding common pitfalls when selecting and implementing CPM software, making this a must-listen for finance professionals navigating the CPM software landscape.
Dave Collins, Director of Solutions Consulting & Strategic Alliances at OneStream Software. With over twenty-five years of experience from consulting to education to product management, Dave has a proven track record as a trusted advisor in Analytics and Performance Management. He has designed B/C/EPM solution architectures for organizations, traversing a wide range of industries, and is a published author on multi-dimensional analysis and performance management modeling.
 
Key Highlights:
[00:01 - 06:09] Dave Collins: CPM Thought Leader Insight
Dave Collins highlights his extensive journey from ComShare to OneStream.
Discusses the evolution of CPM solutions and their impact on finance and operations.
Reflects on the importance of addressing organizational challenges with integrated CPM platforms.
Share insights on transitioning from traditional methods to modern, unified CPM systems.
 
[06:10 - 17:10] OneStream's Technology and Platform
Integrates industry experiences with Microsoft Azure for a comprehensive platform.
Avoid modular complexity, enabling seamless on-premises and SaaS deployments.
Provides unified data model, integrated workflows, and advanced calculations.
Supports expansive data handling with flexible, user-based licensing.
 
[17:11 - 28:18] The Value Edge with OneStream
OneStream addresses complexities arising from multiple ERPs within organizations.
Offers a unified solution reducing integration efforts and technical debt compared to ERP modules.
Provides flexible, cost-effective access to a wide range of financial processes under a single licensing model.
Enables tailored implementation prioritizing immediate business needs, enhancing efficiency and collaboration.
 
[28:19 - 37:53] OneStream Implementation Strategy
A unified data model simplifies planning and reporting.
Flexible deployment aligns with organizational needs.
Built-in financial intelligence reduces custom rules.
Analytic services offer daily insights for strategic decisions.
 
[37:54 - 42:21] Closing Segment
Importance of consensus in project planning.
Value of consulting partners' expertise.
Advocacy for flexible project management and communication.
 
If you liked this episode of the show, CPM Customer Success, please LEAVE A 5-STAR REVIEW, like, share, and subscribe!
 
Get in touch with Andy:
Email: Andy.Smetana@NovaAdvisory.com
LinkedIn: https://www.linkedin.com/in/andy-smetana/
 
Get in touch with Dave:
Email: dcollins@onestreamsoftware.com
LinkedIn: https://www.linkedin.com/in/yepitsdave/
 
Thank you for tuning in!
 
Tweetable Quotes:
“The biggest pitfall is coming to consensus on what it is you want to do…when I was in consulting, as soon as we come to consensus on the plan. And what the priorities are, I can tell you how long it's going to take to do something.” - Dave Collins
“I would say as a pitfall is, not leveraging, not acknowledging that the partner you've chosen.” - Dave Collins
“I would say as a pitfall is, not Leveraging, not acknowledging that you all are really good at what you do and can help them make a good informed decision based upon your experience.” - Dave Collins

In this episode, Andy dives into the transformative power of OneStream in addressing three critical challenges faced by the Office of Finance: the inefficiency of managing multiple-point solutions, the burden of technical debt, and the need for flexibility in financial reporting. Through expert insights, Andy illuminates how OneStream's unified platform not only streamlines financial operations but also significantly reduces the total cost of ownership and enhances business adaptability with its innovative approach to corporate performance management.
 
Key Highlights:
[00:01 - 03:21] Complexity in Financial Operations: Addressing Challenges
CPM solutions are faced with evolving challenges.
Importance of addressing these challenges for efficient financial operations.
Overview of three key challenges: multiple-point solutions, technical debt, and inflexible systems.
 
[03:22 - 09:20] Unified Financial Solutions
Prevalence of disparate systems leading to inefficiency.
Difficulty in integrating and consolidating data across platforms.
OneStream's unified platform approach to solve integration issues.
 
[09:21 - 13:10] Technical Debt: OneStream's Maintenance Solutions
Accumulation of outdated or costly-to-maintain systems.
Dependency on key personnel for system management.
OneStream's financial intelligence reduces maintenance costs and simplifies data management.
 
[13:11 - 19:38] Flexibility in Systems: OneStream's Adaptive Dimensionality
Legacy systems hinder adaptability to business changes.
Customized solutions create barriers to system evolution.
OneStream's extensible dimensionality offers flexibility and operational relevance across different business units.
 
[19:38 - 20:56] Closing Segment
Summary of the three main challenges and OneStream's solutions.
Emphasis on the benefits of a unified CPM platform.
Encouragement for exploring OneStream to address financial system challenges.
 
If you liked this episode of the show, CPM Customer Success, please LEAVE A 5-STAR REVIEW, like, share, and subscribe!
 
Get in touch with Andy:
Email: Andy.Smetana@NovaAdvisory.com
LinkedIn: https://www.linkedin.com/in/andy-smetana/
 
Thank you for tuning in!
 
Tweetable Quotes:
“OneStream is really one financial stream. It's a platform, and it's the first and only platform built solely for finance.”  - Andy Smetana
 
“OneStream can read data from across the business landscape, it can enrich it, it can summarize or aggregate data, consolidate data, can roll it up by different views of a business, whether that be by region or country, or product lines.”  - Andy Smetana
 
“OneStream is designed to solve for those inflexible system problems. And it does that in one primary way through a proprietary term called extensible dimensionality.” - Andy Smetana