Extending OneStream with Task Manager to support your financial process

Are you struggling with getting a grip on the financial reporting process? Do you want to know the bottlenecks in your close? Have you always wanted to understand better (or know) who is holding up the close and why? We often hear these kinds of issues from our clients. Extending your OneStream application to include the Task Manager helps you organize and optimize the stages of your financial process.

Common challenges in the closing process

Often, we hear multiple reasons that cause stress during the close process. Firstly, it's hard to track how far along the teams are in the process, especially with multiple accounting teams working in various, often international, regions. Secondly, finding out afterward that not all necessary steps have been executed is very inconvenient, especially when it could have been avoided easily. Finally, people often wait, unaware that they can already start the next reviewing task, which is inefficient at the least.

The OneStream Task Manager solution

These challenges can be overcome with the OneStream Task Manager. This solution is an easy way to organize workflows and tasks, both inside and outside of OneStream. This means you can also add the steps that need to be done in your ERP application and create one integrated close process. As an added benefit, not only the close process but also the budgeting, forecasting, reporting, or any other financial process can be managed with the Task Manager.

Tracking the closing process

Tracking the process is as vital as organizing all the steps. Just being able to see the different statuses and dependencies helps everyone involved to know where they stand. Also, getting updates automatically saves time, as you don’t have to chase people for status updates. This enables you to focus on the bottlenecks directly. In addition, you don’t have to update and share Excel spreadsheets and close calendars, saving you a lot of time. Eventually, it’s all about meeting your reporting deadlines and having more time to analyze your company's figures.

Figure: Gant Chart View of the (outstanding) tasks.

Task Manager is readily available in the OneStream MarketPlace

OneStream Task Manager is readily available in the OneStream MarketPlace and free of charge.

Implementing Task Manager can range from a simple implementation, completed in days, or a sophisticated project that requires multiple weeks. A well-prepared and structured step-by-step approach helps to ensure a smooth implementation process. 

Join our webinar

Discover the ins and outs of OneStream Task Manager and how to provide your organization with a smooth and reliable financial process. Register now for our webinar on Tuesday 28 May 2024, at 16.00 CEST.