Finance transformation is essential for businesses that depend on the effect of capital expenditure decisions to drive growth. One of the most difficult tasks of big, diverse organizations is efficiently handling capital planning. To model and review individual capital programs, evaluate risk, and make decisions, finance teams must be agile. Specific projects must also be able to be aggregated into clusters of capital projects, such as development capital or productivity-related capital, by finance departments. Finance departments must also be aware of how such capital expenditures affect the P&L, balance sheet, and cash flow.
eXtended Planning and Analysis are now possible.
Finance teams are evolving beyond the purview of traditional FP&A and embracing eXtended Planning and Analysis. Finance teams are integrating operational and financial planning for all areas of the organization. Capital planning executed with fragmented spreadsheets forces Finance teams to waste time and resources on managing data. Such waste limits the Finance team’s ability to engage with business units and conduct strategic dialogue.
Through OneStream Capital Planning, you will lead at lightning speed.
OneStream’s Intelligent Finance Software enables Finance teams to lead at pace by integrating capital preparation with key CPM processes. Customers can import, install, and deploy more than 50 business and productivity applications from the OneStream MarketPlace like:
- Manage current fixed assets and add new ventures or assets.
- Update asset class expectations, valuable life assumptions, and other global drivers.
- Import current investments and accrued depreciation cost directly into OneStream Capital Planning from leading ERP schemes.
- Calculate repairs, insurance, and depreciation by asset type dynamically for P&L and balance sheet effect.
- Connect to other OneStream specialty planning options, such as Cash Planning.
- With straightforward end-user workflows, you can efficiently handle all capital preparation.
Van Oord Project & Equipment Forecasting: Meeting the Challenge
Van Oord has a diverse mechanism that is often evolving and becoming more disruptive. The sheer amount of data to handle was a burden for Van Oord, who had a Finance workforce of about 250 employees, 200 monitoring agencies, and, on average, 300 ongoing ventures in more than 50 countries.
Van Oord decided to make the Finance department leaner, more flexible, and future-proof so it could adapt to the ever-changing climate. Financial management, project cost control, project monitoring, and equipment reporting all required to be integrated into a new, centralized structure.
Van Oord has reaped the advantages of providing a centralized data model within a single framework thanks to OneStream, which is driving the Finance Transformation. OneStream is a modern CPM solution that standardizes and automates vital finance procedures, ensuring a quick close and accurate management data. Information on the project, the facilities, and the departments are all completely integrated and available for “slicing and dicing.”