About Flow Traders
Flow Traders is a publicly listed principal trading firm specializing in providing liquidity in Exchange Traded Products (ETPs) around the globe. The company was founded in 2004 and is headquartered in Amsterdam with satellite offices located in New York, Singapore, and Cluj. For more information, visit flowtraders.com.
OneStream™ provides a platform with a completely transparent and accessible database; it generates standard reports, dashboards and ad hoc analyses that meet the information needs of our organization. This allows the Finance team to spend less time on administrative tasks and dedicate more time to controlling.
“The consolidation solution provides speed and peace of mind,” according to Dankers. “We can generate the actual reports more rapidly. In addition, there is less checking to do compared to Excel. In Excel, we felt we needed to check things over and over again, whereas now, we rely on the system. I source things in OneStream, so I know that everything is set up correctly. This provides peace of mind.” Dankers is positive about OneStream. “I am still very happy with our choice for OneStream. I am very pleased about it, and so is my team. It contains several convenient tools that help me use it a lot. Users make the adjustments and changes in the system themselves. For instance, they map the numbers and create accounts themselves.”
“Flow Traders was founded in 2004 and has been growing fast. In July 2015, we went public, which meant that we had to deal with (financial) stakeholders more frequently than before,” says Joost Dankers, Global Co-Head of Tax & Finance, on the rationale behind the streamlining of the consolidation process and reporting. “Our objective was to get rid of Excel®,” Dankers continues. “Our Finance team has grown to almost twice the original size. When several people are simultaneously working on complicated consolidated Excel files, errors are quickly made. Our objective was to switch to ‘one source of the truth’ where everyone can extract information from.”
The OneStream Solution
The move to a corporate performance management (CPM) software solution is part of a bigger movement within Finance to increase professionalism. “We are automating the administrative and financial processes, and the consolidation process is part of this. This is in line with our objective to realize further growth,” said Dankers.
After a careful selection process, Flow Traders chose OneStream out of five solutions from a shortlist. Dankers assesses the chosen CPM solution positively: “During the selection process, you want to move from the present to the ideal world, but it remains to be seen if all targets will actually be met. In our opinion, this has been very effective.”
About OneStream Software
OneStream Software provides a market-leading intelligent finance platform that reduces the complexity of financial operations. OneStream unleashes the power of finance by unifying corporate performance management (CPM) processes such as planning, financial close & consolidation, reporting and analytics through a single, extensible solution. We empower the enterprise with financial and operational insights to support faster and more informed decision-making. All in a cloud platform designed to continually evolve and scale with your organization.
OneStream’s Intelligent Finance platform can easily be extended with over 50 solutions from the OneStream MarketPlace™. These downloadable solutions are fully battle-tested and optimized for the OneStream platform. They allow customers to easily extend the value of their investment to meet the changing needs of finance and operations.
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