Client Success History | Fortune 100 Oil and Gas Company

A global oil and gas company needed to replace the Oracle Hyperion Strategic Finance (HSF) platform as part of their initiative to modernize Finance.

The company migrated to OneStream to automate tasks and discover additional benefits. Our team completed a complex migration process that positioned the company for greater visibility and insight into financial performance. Now, the company uses OneStream for Budget and Forecast Financial Statements, Capital Project Planning, and Dynamic Reporting.

Created 5-10 hours of time-savings each monthly cycle.
Replaced the company’s antiquated database with OneStream to enable fast access to summarized data, transactional data, and reports.
Provided more time for analysis through consistent and flexible reporting.
Delivered increased confidence using OneStream vs. HSF.

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Summary

A Fortune 100 international oil and gas company needed to replace the Oracle Hyperion Strategic Finance (HSF) platform. The platform was very manually intensive, creating wasted time and effort supporting financial processes. The company migrated to the OneStream intelligent finance platform to automate tasks and discover additional benefits. Our team of experts completed a complex migration process that positioned the company for greater visibility and insight into financial performance. Now, the company uses OneStream for Budget and Forecast Financial Statements, Capital Project Planning, and Dynamic Reporting.

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The Problem

Why Fortune 100 Oil and Gas Company Approached HollandParker?

The company experienced various challenges related to Oracle Hyperion Strategic Finance (SF), Capital Planning, and other financial processes that slowed down Finance and introduced the risk of human error. The challenges included:

HSF Challenges

Unable to connect to/download financial information from various data sources.
Ad hoc processing needed to be completed outside of HSF.
Upgrades were cumbersome and support was inadequate.
Difficulty restoring data if there was an error.

Capital Planning Challenges

Needed to utilize in-house Microsoft Access database to store and report capital data.
Creating ad-hoc reports from MS Access was time-consuming and lacked flexibility.
Currency calculations were externally managed, causing duplicate data loads.
Interest and Overhead calculations for Budget were completed offline.
The platform lacked security to prevent user errors.
Risk of the database model not working with Office upgrades.
Could not accommodate reporting requests due to a lack of hierarchy capabilities.

Other Challenges

Calculations and assumptions were overly complex.
MS Access database prevented the retention of historical data in an organized structure.
Dynamic Reporting required a very manual process to create reports.
Needed a solution for data source management due to a lack of data structure
Lacked visibility into data input to trace adjustments and changes to data sets.
Unable to meet user needs ranging from operations to executive leadership.
Could not slice and dice data quickly and efficiently to meet internal and external reporting requirements.

The Solution

How We Approached the Problem

HollandParker created a seamless transition to OneStream through our focused, collaborative approach. We solved the company’s key challenges so that they could generate reports in an automated fashion, increase the accuracy of financial data, support capital planning, and achieve consistent and flexible reporting to provide more time for analysis. To tackle our client’s challenges, our solution included:

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Replacing antiquated Microsoft Access database with OneStream to set data structure.
Enabling dynamic reporting between summarized data and transactional data.
Enabling the company to gather and report historical data and regenerate historical reports.
Improving control and accuracy of calculations for interest, overhead, and currency conversions.
Setting up automated report generation that requires very little manual intervention.
Introducing a mixture of business rules and Thing Planning marketplace solutions to add structure to report generation.
Creating detailed data views to ensure consistency with summarized level reports.
Setting up OnePlace workflow engine to create visibility into every process.
Creating an environment for seamless upgrades of on-premise solutions.