How does OneStream handle multi-currency functionalities?

OneStream effectively manages multi-currency functionalities through its built-in currency conversion and translation features. This capability allows organizations to handle different currencies effortlessly within their financial reports and data analyses, enhancing the accuracy and efficiency of financial consolidation and reporting processes.

The software automates the conversion of various currencies based on predefined exchange rates, which can be dynamically updated. This means that users do not need to rely on external tools or manual calculations, making the workflow more streamlined. Additionally, OneStream provides the ability to set up currency translation for financial statements, allowing for comparisons and consolidations across different currencies, thus supporting global operations and multi-national reporting requirements.

This built-in approach not only simplifies the process but also reduces the potential for errors that can arise from manual entry or external conversions. Overall, OneStream's robust multi-currency features ensure that organizations can maintain accurate financial reporting in a complex and changing economic landscape.