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Energy Services Company 2 1

Energy Services Company

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.

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The public-facing portion of a large energy services company needed to consolidate their forecasts from individual entities into a rolling forecast.

Both the public and private portions had various needs, issues, and legal requirements that needed to be addressed. We created a solution to implement the OneStream platform for both the public and private sides of the organization.

  • Created financial separation of public and private access in single platform.
  • Implemented 12-month rolling forecast to compare forecast vs. actual results.
  • Created Scenario Blending Rules to combine actuals with forecast or planning data.
  • Dramatically improved forecasting lead times to refresh or make changes.
  • Eliminated many manual processes to create a single source of truth for data.

The Pre-Transformation Checklist for Finance

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Summary

The public-facing portion of a large energy services company needed to consolidate their forecasts from individual entities into a rolling forecast. Both the public and private portions had various needs, issues, and legal requirements that needed to be addressed. We created a solution to implement the OneStream XF platform for both the public and private sides of the organization.

Energy Services Company 2 2

The problem

Why Energy Services Company Approached HollandParker?

The organization lacked a reliable method to consolidate forecasts, the budgeting process was cumbersome, and their Excel and Access databases were difficult to maintain for planning purposes. Additionally, various needs and issues for both the public and private sides of the organization needed to be addressed.

  • Consolidations required error-prone manual mapping for individual entities.
  • Multiple Excel models made it difficult to drive Gross Margin Forecasting.
  • The planning ecosystem was too bulky for nimble scenario analysis.
  • Excel spreadsheets were prone to error and there were no automated checks.
  • The budgeting process took one month to complete.
  • It was difficult to compare forecasts to actual results because of the manual nature of the process.
  • Long lead times held up any improvements or changes
  • The complexity of the system limited data accessibility for budget stakeholders.

The Solution

How We Approached the Problem

As their chosen implementation partner, we led the organization through multiple phases of the migration process to the OneStream XF platform. During this process, we met the varying needs of both sides of the organization within a single platform. Because of our solution for implementation and the capabilities of OneStream XF, we arrived at a clear pathway to support Planning & Forecasting for the entire organization.

  • Implemented 12-month rolling forecast to compare forecast vs. actual results.
  • Created Scenario Blending Rules to combine actuals with forecast or planning data in a single scenario.
  • Eliminated many of the manual processes to create a single source of truth for data.
  • Company personnel now input their data directly to OneStream, replacing data compilations from manual entry.
Energy Services Company 2 3

Here Are the Key Achievements for This Client

Dramatically improved the forecasting lead times to refresh or make changes.

Saved time for personnel by slimming down the planning ecosystem.

Made it possible to compare actuals to budget data as soon as monthly actuals are loaded.

Energy Services Company 2 4

More time to review user access & security changes

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Energy Services Company 2 11

The Pre-Transformation Checklist for Finance

An 11-Step Risk Reduction Tool for CFOs and CAOs Who Aren’t Sure Where to Start

By following this checklist, organizations can systematically approach their finance technology transformation, ensuring that all critical aspects are addressed and that the transition is smooth and successful.

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CFOs can’t transform finance if they’re not sure where to start. HollandParker gives CFOs the power to see where they should prioritize technology investments so they can transform finance with confidence. 

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The Pre-Transformation Checklist for Finance

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