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 publicly-traded manufacturing company needed to move away from their previous planning solution that was used for budgeting.
They also needed to standardize the forecasting process across lines of business. We worked with the company to implement OneStream to create a single platform for planning, processes, and visibility into each account.
- Ability to forecast a full balance sheet.
- Extended consolidations without impacting the consolidations teams.
- Created 1 cube view as opposed to previous 50+ views for each business unit.
- Standardized the budgeting process to complete within 2 business days.
- Built fully forecasted financial statements to enable forecasting of Free Cash Flow.
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 their previous planning solution that was used for budgeting. They also needed to standardize the forecasting process across all lines of business. We worked with the company to implement OneStream XF to create a single platform for planning, processes, and visibility into each account.
The Problem
Why Global Manufacturing Company Approached HollandParker?
The company wanted to forecast a full balance sheet, which most organizations are not capable of achieving. The company also needed to extend the variable cost accounts for Woods, Chemicals, and Utilities to provide greater granularity than what existed within the general ledger.
The Solution
How We Approached the Problem
We implemented the OneStream XF software platform to meet the challenge:
- Created flexibility for the variable cost drivers to be different for each business unit.
- Extended consolidations without impacting the consolidations team using OneStream’s extensibility for Forecast Cube.
- Delivered an efficient single cube view to dynamically change and shift for each entity
- Built fully-forecasted financial statements to enable forecasting of Free Cash Flow.
Here Are the Key Achievements for This Client
Ability to forecast a full balance sheet.
Forecasting advanced from quarterly to monthly.
Created 1 cube view as opposed to previous 50+ views for each business unit.
Standardized the budgeting process to complete within.
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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.