Flow Traders Streamlines Financial Reporting with OneStream
Company Size
1,000+
Region
- America
- Asia
- Europe
Country
- Netherlands
- Singapore
- United States
Product
- OneStream
- OneStream MarketPlace
Tech Stack
- Corporate Performance Management (CPM) Software
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Digital Expertise
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
- Quality Assurance
Services
- Software Design & Engineering Services
- System Integration
About The Customer
Flow Traders is a publicly listed principal trading firm that specializes in providing liquidity in Exchange Traded Products (ETPs) globally. Founded in 2004 and headquartered in Amsterdam, the company has expanded its presence with satellite offices in New York, Singapore, and Cluj. Flow Traders has experienced rapid growth, particularly after going public in 2015. The firm is known for its expertise in trading and its commitment to leveraging technology to enhance its operations. With a growing finance team and increasing demands for accurate financial reporting, Flow Traders sought to modernize its financial consolidation and reporting processes.
The Challenge
Flow Traders, a rapidly growing principal trading firm, faced significant challenges in managing their financial consolidation and reporting processes. The company, which went public in 2015, needed to address the increasing complexity and frequency of financial reporting to stakeholders. The reliance on Excel® for these tasks led to errors and inefficiencies, especially as the finance team expanded. The primary objective was to eliminate the use of Excel® and transition to a more reliable and unified source of truth for financial data. This shift was essential to support the company's growth and ensure accurate, timely reporting.
The Solution
Flow Traders selected OneStream as their corporate performance management (CPM) software solution after a thorough evaluation of five potential solutions. The implementation aimed to automate and streamline the financial consolidation process, reducing the reliance on error-prone Excel® files. OneStream was chosen for its comprehensive platform capabilities, including financial data quality management and FX calculations. The implementation, led by Sonum / Finext, was executed swiftly to meet the company's tight deadlines. The project involved significant outsourcing to maintain the desired pace and ensure all necessary steps were completed efficiently. The collaboration with Sonum / Finext, a leading implementation partner in the Netherlands, was highly effective, resulting in a smooth and orderly data validation process.
Operational Impact
Quantitative Benefit
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