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OneStream Variance Analysis - Make Time for You

"You will never find time for anything. If you want time you must make it."

- Charles Buxto

Variance analysis can often be a strenuously time consuming process that requires opening up multiple files, logging into multiple ERP systems, plenty of copying and pasting, all with little to no controls in place.

Our clients have the benefit of taking advantage of the OneStream platform to expedite the process of monthly reviews and variance analysis processes. Using Direct Connect functionality, our clients are able to dynamically retrieve transactional data while performing analysis. They can even use balance sheet account reconciliation items to help explain balance sheet variances. Another benefit is the ability to dynamically aggregate variance commentary in OneStream for consolidated reporting. This means that they don't have to open up last year's or even last month's variance analysis files.

In the following example, our client can easily navigate from the Variance Input Form to the ERP Drill Back and Recon Item Drill Down. If they've already spent time looking into the Balance Sheet changes during the Account Reconciliation process, why not have that information readily available during their variance analysis? This particular client sent their Balance Sheet Variance Threshold at an absolute change of $100,000. This threshold can be set to a dollar amount or percentage change and can even vary per entity!

This type of Variance Analysis has saved our clients countless hours of time. Let AIT Consulting help "make time for you."

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