Energy Resource Provider

Discover how our OneStream implementation services enable your organization to streamline the financial close, report with confidence, and deliver faster, more accurate insights to stakeholders.

Streamlined Close Complete Transparency Internal Controls

One of the leading providers of residential energy resources in the U.S. needed to re-think their approach to the financial close.

One of the key complications was that the company’s entity structure regularly changes, creating a host of unique challenges pulling together financial data in a timely manner. The HollandParker team delivered a robust solution to address the key challenges, position the company to accelerate their close, and enable the timely delivery of financial reports utilizing the OneStream CPM software platform.

Reduced their close cycle by over 50%.
Able to run financial reports in real-time.
Created data transparency to support real-time decision-making.

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Summary

One of the leading providers of residential energy resources in the U.S. needed to re-think their approach to the financial close. One of the key complications was that the company’s entity structure regularly changes, creating a host of unique challenges pulling together financial data in a timely manner. The HollandParker team delivered a robust solution to address the key challenges, position the company to accelerate their close, and enable the timely delivery of financial reports utilizing the OneStream CPM software platform.

Woman and man talking in business environment

The Problem

Why Energy Resource Provider Approached HollandParker?

The company needed support for various challenges with financial processes and financial data management:

The company was burdened by a lengthy close cycle.
The company lacked uniform reporting and needed to streamline reporting.
The company was not balancing intercompany eliminations.
Company assets had different close cycles, requiring unique tracking for each entity.
Security was a challenge, creating the need for more security controls for their team roles.

The Solution

How We Approached the Problem

Our team focused on addressing the challenge of a changing entity structure. We targeted this issue because everything else would successfully follow. Our consulting team created OneStream workflows based on the company’s team assignments and their entity structure, which was based on their NetSuite structure. This created consistency with how the company was set up to close. Through this seamless integration, the company could also achieve necessary flexibility in the future when they needed to add more entities or make other entities inactive.