What does OneStream utilize for multi-currency conversions?

OneStream employs user-defined rules for translation in its multi-currency conversion processes. This approach allows organizations to tailor currency conversion to their specific requirements and financial policies. By defining these rules, users can establish how currencies are converted based on factors such as exchange rates, timing of conversions, and the desired granularity of reporting. This level of customization is essential for accurately reflecting the financial positions of businesses operating in diverse currencies, ensuring that the financial data presented is both relevant and precise.

Utilizing user-defined rules also enhances consistency and control over currency translation practices across various reporting periods and business units. This method drastically reduces the reliance on external systems or manual entries, which can lead to inconsistencies and increased potential for error. Therefore, it not only streamlines the conversion process but also assures compliance with financial regulations and reporting standards that are critical for global enterprises.