Why Your Month-End Is Still Broken — And How Automation Can Fix It for Good

For many finance teams, month-end isn’t just a process—it’s a scramble. Spreadsheets everywhere. Late nights. Manual reconciliations. Delayed insights. And every cycle feels like déjà vu.

Despite advances in technology, too many organizations are still stuck relying on legacy tools and disconnected systems. And it’s costing them more than time—it’s costing them agility, visibility, and confidence.

The good news? Automation is no longer a luxury. It's a necessity—and it’s finally within reach.

The Real Cost of a Broken Close Process

According to PwC’s 2023 Finance Benchmarking Report, the average close takes 6.4 business days. But that’s just the tip of the iceberg. When you factor in the time spent gathering data, fixing errors, and responding to last-minute leadership requests, the real toll is much higher.

Even more alarming: 80% of organizations still depend heavily on spreadsheets for forecasting and planning. And according to research from Ventana, 88% of those spreadsheets contain errors.

This isn’t just an operational issue. It’s a strategic liability.

Finance leaders are under increasing pressure to deliver timely insights and guide decision-making. But when the close process is slow, manual, and fragmented, it delays every other part of the business—from strategic planning to scenario modeling.

Why This Problem Still Exists

Despite all the software available, most finance teams face the same four issues:

• Data Silos: Information lives in different systems (ERP, CRM, HRIS) that don’t talk to each other, making consolidation a manual, error-prone task.

• Manual Processes: Spreadsheets dominate close and forecast workflows, leading to version control issues, data integrity risks, and inefficiency.

• Outdated Insights: When data is static or delayed, forecasts are obsolete before they’re even presented.

• Accuracy Challenges: Without automation and real-time data, forecasting becomes guesswork—and that guesswork drives decisions.

In today’s volatile environment, this simply doesn’t cut it.

The Case for Change: Automation as a Strategic Enabler

Modern Corporate Performance Management (CPM) platforms like OneStream are designed to solve these exact challenges. They unify data, automate reconciliations, and enable real-time visibility across financial and operational functions.

But more than that, they reposition finance from reactive reporting to proactive strategy.

When implemented effectively, automation can:

• Reduce time spent on manual reconciliations by 50% or more

• Improve forecast accuracy by 20–40%

• Shorten reporting cycles by up to 60%

• Eliminate spreadsheet chaos across departments

And these aren’t just abstract stats. They’re real outcomes from real companies.

How It Looks in Practice

A global animal nutrition company operating in over 90 countries recently transformed its finance function with OneStream. Before implementation, forecasting required days of spreadsheet wrangling across disparate regional systems. By the time reports were consolidated, the numbers were already stale.

With OneStream in place, they:

• Reduced their reporting cycle from 10 days to 5

• Increased forecast accuracy by over 20% using predictive analytics

• Eliminated data silos, giving leadership a real-time, global view of operations

Another global automotive supplier—operating across 27 countries and managing over 40 disconnected systems—used OneStream to consolidate all financial and operational data into a single platform. The results?

• 50% faster financial close

• 15% reduction in excess inventory costs

• 20% improvement in labor planning accuracy

These aren’t one-off wins—they’re the new standard for agile finance teams.

From Forecasting to Foresight

One of the biggest advantages of CPM automation is its ability to turn forecasting into foresight.

With embedded AI and machine learning, platforms like OneStream can automatically generate rolling forecasts, run thousands of “what-if” scenarios in minutes, and model the financial impact of any change—before it happens.

This isn’t about replacing finance teams. It’s about freeing them from manual drudgery so they can focus on what really matters: strategic decision-making.

Imagine being able to instantly see how a 10% drop in revenue in EMEA impacts inventory, headcount, and cash flow. Or simulating the effect of a new product launch on margin across three business units. That’s what automation unlocks.

And in today’s business climate, where conditions shift faster than planning cycles, that kind of agility isn’t optional. It’s essential.

Why Now?

Three years ago, automation felt like a nice-to-have. Today, it’s table stakes.

Markets are volatile. Boards are demanding faster insight. And finance leaders are expected to do more—with fewer resources and greater accountability.

What’s changed is accessibility. Modern CPM platforms are more scalable, user-friendly, and implementation-ready than ever. A phased rollout can start delivering value in months, not years.

And with the right partner, the path is clear.

How Nova Advisory Helps

At Nova Advisory, we don’t believe in plug-and-play. We believe in platform strategy.

Our team of OneStream experts guides clients through every stage—from scoping and roadmap development to rollout, training, and optimization. We work with your data, your team, and your business goals to implement a solution that drives measurable impact.

We’ve done this across industries, geographies, and organizational sizes—and we know what success looks like.

Zero-drama implementations. Faster closes. Clearer forecasts. And a finance function that leads with confidence.

Final Word: You Don’t Need Another Report. You Need a New Reality.

If your month-end close still feels like a war room, it’s time to automate.

But this isn’t just about speed. It’s about trust. Accuracy. Agility. And giving your team the tools they need to lead—not lag behind.

With OneStream and Nova Advisory, you don’t just fix the close. You fix the foundation.

Let’s talk. The future of finance isn’t built on spreadsheets—it’s built on strategy.