On October 30, 2023

Unleashing Tribal Knowledge by Evan Dowd

Leveraging OneStream for Comprehensive Financial Insight In the dynamic world of corporate finance, “tribal knowledge” refers to the understanding of a company’s financial intricacies that seasoned employees accumulate over time, often at an operational level. This type of knowledge is invaluable because it comes from work experience and cannot be found in documented procedures or
On September 29, 2023

Optimizing Inventory Management through SIOP (& OneStream)

Sales and Operations Planning (S&OP) has been a staple in the manufacturing and supply chain industries for decades and serves as a means of ensuring that operations and production align with customer sales. However, more recently there has been a stronger shift from S&OP to Sales, Inventory, and Operations Planning (SIOP) with an increased focus
On September 6, 2023

Hedging Your Bets Against EDI Release Inaccuracies

In the Automotive Industry, the link that connects the OEMs to their suppliers is a process that leverages EDI (electronic data interchange) releases. These electronic documents provide order information (chiefly inventory/order quantities, costs, and shipment information) between the OEM and numerous suppliers along their supply chain.   For a decade or more, Automotive OEM’s have
On August 17, 2023

Financial Forecasting in a time of Supply Chain Uncertainty

Supply chain disruptions have become less of a rare occurrence and more of a manufacturing industry norm in recent years. While the cause of these disruptions can be both internal (supplier issues, financial insecurity, labor shortages, etc.) and external (political instability, natural disasters, regulation changes), the impacts can be challenging.  Unfortunately, this rising uncertainty comes
On August 7, 2023

Partnering for Excellence: OneStream’s Podcast Series featuring Strategic iQ

We at Strategic iQ are excited to share our recent podcast collaboration with OneStream, a leading provider of corporate performance management (CPM) solutions. In this podcast titled “Solution Series: Strategic iQ and the Automotive Planning Factory,” our executive team had the privilege of joining forces with OneStream to discuss our latest developments as an inaugural
On June 7, 2023

Internal Controls for Comprehensive Risk Management

Running any business involves risk to a certain degree, but with careful and strategic financial planning that risk can be minimized and managed. Crucial to this risk management, however, is a thorough understanding and mastery of the internal controls at your disposal. Internal controls refer to activities, processes, procedures, or protocols implemented in your company
On May 8, 2023

Tax Provisioning: Planning Your Financial Future

Planning ahead and making informed financial decisions is the foundation of all financial planning, and tax provisioning is a key way to do this. Tax provisioning is the process of estimating how much your business will owe in income taxes, and it is vital to understanding how much financial leeway you’ll have throughout the year.
On April 6, 2023

External Financial Reporting: The Business of Accountability

Financial planning and reporting aren’t just an internal necessity, it’s also crucial for keeping your business accountable to current investors and shareholders and can recruit other potential stakeholders. Many laws and regulations are already in place that require certain types of companies and entities to publish financial reports publicly, such as trading companies and those
On March 21, 2023

ERP Integration for Successful Financial Planning

As any business manager or owner knows, financial planning is impossible without a thorough knowledge of how your business’ day-to-day operations function. Enterprise Resource Planning (ERP) is a foundational type of software that allows you to oversee these daily operations simultaneously, including accounting, supply chain operations, project updates, and more. This form of oversight can
On February 6, 2023

Financial Planning for Profitable Sales

Sales, on the surface, may seem simple: Provide an in-demand product and collect profit from consumers who desire that product. Anyone who works in sales, however, and any company that specializes in providing products for public consumption, know that there is great nuance and strategy behind every successful product and notable sale. That’s why financial
On December 19, 2022

Workforce Planning in Financial Planning

Many companies view financial planning in purely monetary terms – supply and demand, profits and losses, taxes, and investments, etc. The reality is that companies and businesses are made up of people, and no profits can be made if not for the skill sets and expertise of the employees who generate those profits. That’s precisely
On November 30, 2022

Critical Cost Center Financial Reporting

Every profitable business draws in profits both directly and indirectly. These indirect profits are often brought in through units known as “cost centers,” or, more simply put, divisions that don’t specifically generate income, but contribute to the company’s overall ability to produce profits. For example, a human resources (HR) department for a large manufacturing company
On October 21, 2022

Project Accounting for Capital Planning

Many businesses and companies have projects of varying degrees: opening a new healthcare facility, moving an online store to a brick-and-mortar building, etc. These larger-scale projects can be much more complex than simply creating a budget and sticking to it. Project accounting is a financial planning tool that helps to ensure that your project flows
On October 5, 2022

Using Predictive Models and Analytics for Financial Forecasting

Predictive models and analytics are a prime way to determine you or your business’ current and future financial status. These models, which help you to summarize important financial information and visualize trends, give you insight into the efficacy of your financial state and better predict which financial moves you should make moving forward. One of
On September 14, 2022

Dashboards vs. Scorecards: Tracking Financial Success

Financial planning is all about setting clear-cut goals, developing strategies to meet those goals, and tracking progress to ensure those objectives are met. While many strategies and tools to track this progress exist, dashboards and scorecards are often used to visualize growth and analyze factors “at a glance,” making it easier to see where financial