ROCHESTER—OneStream Software, a provider of corporate performance management software for mid-sized to large enterprises, has introduced a new transaction matching system that can speed account reconciliations and shorten the financial close process. OneStream Transaction Matching allows companies to collect and match large volumes of transactions from multiple sources to quickly identify and resolve differences to accurately finalize period-end balances much sooner than with third-party tools or spreadsheets.
“Account reconciliations and the matching of transactions across multiple systems can be a very time-consuming process for large enterprises with multiple systems and thousands of accounts to reconcile,” said OneStream CEO Tom Shea. “OneStream Transaction Matching replaces spreadsheets and third-party point solutions so our customers can accelerate the matching and account reconciliation process within our unified platform. Early users are seeing significant time savings by starting transaction matching much earlier in the close process resulting in faster and more confident period-end financial reporting.”
This software complements OneStream’s Account Reconciliations software, both of which are available on the OneStream XF MarketPlace at no additional license cost for existing OneStream customers. Both are fully supported and can be deployed on-premise, or in the cloud so end users can manage these processes either from the office or remotely.
OneStream Transaction Matching allows companies to match transactional-level information from multiple sources using an easily configurable, rules-driven approach that identifies and resolves differences in transaction data. This replaces spreadsheets and manual processes that prolong period-end account reconciliations and can delay the financial close. Failure to accurately match transactions and reconcile accounts can result in reporting issues or even undue write-offs that can negatively impact a company’s income statement and balance sheet.
Built on the unified OneStream XF platform, OneStream Transaction Matching eliminates additional license costs and maintenance of third-party tools while leveraging existing and proven data integration and data quality capabilities of the platform for loading and matching large volumes of transactions. All the reporting, dashboarding, commentary, audit trails and other capabilities of the OneStream XF platform are inherently available for Account Reconciliation and Transaction Matching for more robust visibility, control and optimization versus third-party solutions.
For more information on OneStream Transaction Matching, register for a Live Demo webinar on April 24 or go to https://www.onestreamsoftware.com/solutions/transaction-matching