Global Manufacturing 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.
A global manufacturing company needed to move away from manual input in Excel spreadsheets, upgrade from a consolidations tool that was no longer supported, and gain visibility into cash flow.
The company was also acquiring an international company, complicating the comparability of data. We built a new multi-currency OneStream consolidations application to report monthly actual data, which allowed for efficient and timely financial reporting.
- Supported the advancement from U.S. to multi-currency data.
- Achieved imperative goal of automated cash flow post-acquisition.
- Broke the company’s attachment to Excel spreadsheets to create reliable automation.
- Used OneStream to perform the first year end-close for the merged company.
- Cut out several steps in the process of intercompany eliminations.
The Pre-Transformation Checklist for Finance
An 11-Step Risk Reduction Tool for CFOs and CAOs Who Aren’t Sure Where to Start
Summary
A global manufacturing company needed to move away from manual input in Excel spreadsheets, upgrade from a consolidation tool that was no longer supported, and gain visibility into cash flow. The company was also acquiring an international company, complicating the comparability of data. We implemented the OneStream XF software platform to allow for efficient and timely financial reporting.
The Problem
Why Global Manufacturing Company Approached HollandParker?
The company was at a crossroads needing to break away from Excel, find a tool to consolidate financial data from two companies, and automate intercompany eliminations. Additionally, the company needed to address manual entry of cash flow. Cash flow was not automated, which delayed visibility and required significant time and maintenance.
The Solution
How We Approached the Problem
We implemented the OneStream XF software platform to meet the challenge:
- Created a new multi-currency OneStream XF Consolidations application to report monthly actual data.
- Built a fully automated cash flow process to achieve necessary visibility.
- Utilized OneStream’s intercompany matching out-of-box functionality to automate intercompany eliminations.
Here Are the Key Achievements for This Client
Advanced from U.S. financial data to multi-currency.
Achieved imperative goal of automated cash flow post-acquisition.
Created reliable automations after advancing from manual Excel spreadsheets.
Used OneStream to perform the first year end-close for the merged company.
Cut out several steps in the process of intercompany eliminations.
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The Pre-Transformation Checklist for Finance
An 11-Step Risk Reduction Tool for CFOs and CAOs Who Aren’t Sure Where to Start
Leverage wisdom from 500+ enterprise finance transformations to ensure yours is smooth and successful.