Schedule a call
Publicly Traded Oil and Gas Company 1

Publicly Traded Oil and Gas 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.

Streamlined Close

Complete Transparency

Internal Controls

A publicly-traded oil and gas company was using several pieces of software and time-consuming manual processes to perform financial functions.

This approach posed the risk of human error, created inefficiencies, and reduced the timeliness of results for reporting and decision-making purposes. HollandParker solved the client’s challenges by streamlining financial processes and implementing the OneStream intelligent finance platform.

  • Created a single source of truth to capture financial performance.
  • Unified planning, financial close and consolidation, reporting, and analytics in a single platform.
  • Implemented custom business rules.
  • Replaced Excel spreadsheets with dynamic dashboards.
  • Reduced time required to perform critical functions.
  • Accelerated reporting for internal and external use.

The Pre-Transformation Checklist for Finance

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

This field is for validation purposes and should be left unchanged.

Summary

A publicly-traded oil and gas company was using several pieces of software and time-consuming manual processes to perform financial functions. This approach posed the risk of human error, created inefficiencies, and reduced the timeliness of results for reporting and decision-making purposes. HollandParker solved the client’s challenges by streamlining financial processes and implementing the OneStream intelligent finance platform to create a single source of truth that could be used to capture and present financial performance.

Publicly Traded Oil and Gas Company 2

The problem

Why Publicly Traded Oil and Gas Company Approached HollandParker?

The company followed a complex series of steps each reporting period to capture financial data from 25,000+ business units:

  • One platform was used as the ERP system (J.D. Edwards)
  • Reporting was performed in two distinct systems (Insight and Cognos). Insight was the primary source for internal and external reporting, while Cognos contained operational and volume data
  • Reporting in Insight was not standardized, which resulted in the creation of hundreds of individual reports and led to maintenance issues.
  • Insight was used for budgeting and forecasting but lacked driver-based capabilities.
  • Financial information was prepared in Excel to load into insight.
  • Data was extracted from Insight, loaded to JDE, and loaded to Cognos for reporting.

The Solution

How We Approached the Problem

HollandParker devised a solution to replace manual processes, centralize data from the client’s multiple pieces of software, capitalize on the features and functionality of OneStream to optimize performance, and provide training as needed.

  • We broke down business units into 8 user-defined dimensions to improve performance and reporting capabilities.
  • We provided training to end-users on how to find pertinent financial details.
  • Using People Planning in OneStream, we created a centralized workflow for Budget and Forecast to replace Excel spreadsheets.
  • To support Revenue Planning, we utilized OneStream’s Thing Planning and driver-based planning capabilities.
  • We created a series of forms to standardize data capture across the enterprise.
  • We implemented custom business rules to calculate financial results.
  • We replaced Excel spreadsheets for Planning with dynamic dashboards.
  • We enabled the company to produce necessary reports for external and internal use.
Publicly Traded Oil and Gas Company 3

Here Are the Key Achievements for This Client

During consolidations, the time to deliver updated results improved by a half-day.

Reporting took 20 minutes vs. one hour to a half-day using the previous process.

Dashboards provided a streamlined method for data input to replace manual processes.

Publicly Traded Oil and Gas Company 4

Reduced dependency on individual contributors’ use of spreadsheets.

Publicly Traded Oil and Gas Company 5

Eliminated headaches and wasted time loading Excel forms that often crashed the Excel application.

Publicly Traded Oil and Gas Company 6

Improved the reliability of results for financial reporting and management reporting.

Related Case Studies

Publicly Traded Oil and Gas Company 7
Publicly Traded Oil and Gas Company 8

Post

Post Holdings evaluated both Oracle Hyperion and OneStream as potential solutions. Ultimately, OneStream wa…

View Case Study
Publicly Traded Oil and Gas Company 9
Publicly Traded Oil and Gas Company 10

CHG Healthcare

Discover how our OneStream implementation services enable your organization to streamline the financ…

View Case Study
Publicly Traded Oil and Gas Company 11
Publicly Traded Oil and Gas Company 12

Dril-Quip

As a rapidly growing organization, CHG had outgrown their Excel and email-based budgeting process. Cre…

View Case Study

0

Finance Leaders Fired for hiring us

25+

Years Experience in Enterprise 
Finance Technology

HollandParker by the Numbers

Schedule a call

589

finance technology implementations completed

25+

Years Experience 
in Enterprise 
Finance Technology

Publicly Traded Oil and Gas Company 13

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.

Download Now

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. 

Who designed this website?

Schedule a call

Privacy Policy

Introduction

Welcome to Holland Parker. We are committed to protecting your personal information and your right to privacy. If you have any questions or concerns about our policy or our practices with regard to your personal information, please contact us at [email protected].

Information We Collect

We collect personal information that you provide to us when expressing an interest in obtaining information about us or our products and services, when participating in activities on the website, or otherwise contacting us.

The personal information that we collect depends on the context of your interactions with us and the website, the choices you make, and the products and features you use. The personal information we collect can include the following:

  • Name and Contact Data: We collect your first and last name, email address, postal address, phone number, and other similar contact data.
  • Payment Data: We collect data necessary to process your payment if you make purchases, such as your payment instrument number (e.g., a credit card number), and the security code associated with your payment instrument.
  • Login Credentials: We collect passwords, password hints, and similar security information used for authentication and account access.
  • Other Information: We collect any other information you directly provide to us through our website.

How We Use Your Information

We use personal information collected via our website for a variety of business purposes described below. We process your personal information for these purposes in reliance on our legitimate business interests, in order to enter into or perform a contract with you, with your consent, and/or for compliance with our legal obligations.

We use the information we collect or receive:

  • To send administrative information to you.
  • To fulfill and manage your orders.
  • To post testimonials.
  • To request feedback.
  • To send you marketing and promotional communications.
  • To deliver targeted advertising to you.
  • For other business purposes.

Sharing Your Information

We may process or share your data that we hold based on the following legal basis:

  • Consent: We may process your data if you have given us specific consent to use your personal information for a specific purpose.
  • Legitimate Interests: We may process your data when it is reasonably necessary to achieve our legitimate business interests.
  • Performance of a Contract: Where we have entered into a contract with you, we may process your personal information to fulfill the terms of our contract.
  • Legal Obligations: We may disclose your information where we are legally required to do so in order to comply with applicable law, governmental requests, a judicial proceeding, court order, or legal process.
  • Vital Interests: We may disclose your information where we believe it is necessary to investigate, prevent, or take action regarding potential violations of our policies, suspected fraud, situations involving potential threats to the safety of any person, and illegal activities.

Cookies and Other Tracking Technologies

We may use cookies and similar tracking technologies to access or store information. Specific information about how we use such technologies and how you can refuse certain cookies is set out in our Cookie Policy.

Data Security

We aim to protect your personal information through a system of organizational and technical security measures. We have implemented appropriate technical and organizational security measures designed to protect the security of any personal information we process.

Retention of Data

We will only keep your personal information for as long as it is necessary for the purposes set out in this privacy policy unless a longer retention period is required or permitted by law.

Your Privacy Rights

In some regions, such as the European Economic Area (EEA), you have certain rights under applicable data protection laws. These may include the right to (i) request access and obtain a copy of your personal information, (ii) request rectification or erasure; (iii) restrict the processing of your personal information; and (iv) if applicable, to data portability.

Updates to This Policy

We may update this privacy policy from time to time in order to reflect changes to our practices or for other operational, legal, or regulatory reasons.

Contact Us

If you have questions or comments about this policy, you may contact us by email at [email protected].

The Pre-Transformation Checklist for Finance

Tap into wisdom gained through 300+ finance transformations to uncover answers to questions you have and those you should.

This field is for validation purposes and should be left unchanged.

Privacy Policy