As global organisations respond to macro-economic and geopolitical pressures, collaboration across back-office departments has never been more critical. For professional services firms, in particular, driving innovative ways to enhance client relationships and internal business partnerships is key. Firms must be prepared to respond to the speed of change being experienced in professional service and client markets. Connecting to and getting quality data from an ever-increasing number of data sources is essential to creating value for internal and external stakeholders.
Meeting the Challenges in Legal and Professional Services
OneStream Software recently hosted a leadership dinner for legal and professional services firms in London. We welcomed Andrew Giverin (Partner, NewLaw Services, PwC), Ade McCormack (Intelligent Leadership Hub), and OneStream’s own General Counsel Holly Koczot. We heard that the changing pressures on the office of the General Counsel (OGC) have driven the requirement to become a more strategic business function, with a focus on new commercial and operating models to drive priorities.
Professional and legal service providers need to deliver on the evolving business requirements of the OGC to support value creation to executive stakeholders, whilst driving collaboration and efficiency. The focus on client relationships has never been more important, building a deep understanding of those strategic priorities to enable value creation. This, coupled with offering service scalability to deliver change at speed, is becoming a key demand from clients to retain business.
To fully deliver the value it is critical to putting an effective management layer in place with a unified, intelligent finance platform to bring together key finance processes in a platform designed to evolve and scale with your firm.
OneStream provides a market-leading Intelligent Finance Platform (see figure 1) that reduces the complexity of financial operations. OneStream unleashes the power of finance by unifying corporate performance management (CPM) processes such as planning & forecasting, financial close & consolidation, reporting, and analytics through a single, extensible solution. The solution empowers users with the insights to support detailed planning and analysis for faster and more informed decision-making.
Figure 1: OneStream’s Intelligent Finance Platform
OneStream delivers significant value to organisations through a number of capabilities including:
- One, unified platform for financial consolidation, reporting, budgeting, planning, forecasting, analysis, and data quality.
- Deep functionality and scalability that meets the more complex needs of large, sophisticated, global organisations.
- Extensible Dimensionality enables differing areas of an organisation to report and plan at a lower level of granularity without impacting global standards.
Hundreds of legal and professional services firms around the world have adopted OneStream’s unified platform to help streamline Finance processes, provide greater business insights, and support more effective decision-making that improves client relationships.
Improved collaboration and service scalability is vital to creating value and enhancing client relationships. This of course requires trust and a complete picture of results from across multiple data sources. For example, professional services firm BDO implemented OneStream’s unified platform to handle growing data volumes, and empower key decision-makers with accurate information, rich dashboarding, and reporting. Read more in their success story.
Global legal firm Hogan Lovells is also well on their way to finance transformation. We co-hosted a webcast with them in which they shared how automation is powering their firm’s efficiency. You can watch the free recording here.
We hope these free resources help you as you lead your own organisation’s journey to unlock information and achieve digital transformation. You are also invited to join an upcoming event or contact us for a personal call.