Airlines were one of the hardest-hit industries during the global pandemic that broke out in early 2020 and brought global travel to a screeching halt.  While the travel industry has since rebounded, it’s still a challenging industry to navigate with rising fuel prices, labor shortages and increasing demand. Learn how KLM Airlines is using OneStream to help their Finance team lead at speed and navigate through the complexities of today’s airline industry.

Leading at Speed at KLM Airlines

One of the most valuable benefits we get from hosting our annual Splash user conferences is the opportunity to meet with and learn about how customers are leveraging the OneStream platform to navigate today’s challenging business environment.  At our Splash Paris user conference in September 2022, I had a chance to interview Stefan van Heukelum, Manager of Finance Decision Support at KLM Airlines to learn how they are using OneStream.

For 99 years, KLM Airlines has been a pioneer in the airline industry and is the oldest airline to still be operating under its original name. KLM aims to be the most customer-focused, innovative and efficient airline in Europe, offering reliable service and top-quality products.

Prior to implementing OneStream’s corporate performance management (CPM) platform, KLM’s Finance team had been relying mostly on Oracle Essbase and Excel and a variety of other tools across various businesses in support of financial planning, reporting and analysis.

After evaluating several alternatives, KLM selected OneStream’s unified CPM software platform to streamline and unify their complex financial processes.  According to Mr. van Heukelum, “In the end, we really wanted to focus on getting a solution in which we could operate from one platform. So really creating a one stop shop for our Finance staff where they could do all their processes.”

Creating a Solid Foundation for Expansion

KLM case study for CPM

The KLM Finance team implemented OneStream in a phased approach, onboarding various businesses sequentially.  Their initial deployment to the Inflight Services department set the foundation for further expansion with their chart of accounts, organization structures, certain standard calculations, variance analysis, impact of exchange rates, and other capabilities.  After the rollout to Inflight Services, they extended the application to other departments such as Flight Operations, the Fuel Department and Ground Services.

The initial focus was mainly on financial planning, budgeting and the related reporting and analysis, people planning as well as capital expense planning.  As part of the foundation implementation of OneStream, KLM also implemented the core design of their route profitability analysis.

Gaining Visibility into Airline Route Profitability

The focus of the profitability analysis solution KLM implemented was airline route profitability.  This requires the ability, at the lowest level of detail, to allocate all the costs of the business, via drivers, to all of the flights KLM operates so they can gain a view into profitability at a very granular level to assess performance across the network.  According to Mr. van Heukelum, “For us as an airline, specifically in these dynamic times, it’s absolutely key that we have the ability at a low level of detail, to be able to steer and optimize our network. And the route profitability model with within OneStream really helps us to do exactly that.”

Empowering the Enterprise with Insights

As a result of the OneStream implementation, KLM is now benefiting from a unified platform that provides a single source of the truth for financial and operational information that’s critical to their business.  According to Mr. van Heukelum, “Instead of people collecting all the data themselves and always ending up with differences in numbers, we now have one place where all the data centrally load loaded, all the pricing information, salary information, all that kind of information is just monitored and operated centrally. So there’s  a huge increase in the quality of information and decreased risk of reporting different numbers in different places.”

He continued, “The impact this project has had on the users is that they get a lot more information, which they didn’t have before. And a lot more costs are allocated more precisely to the routes than was done before. So that’s helped the users to get more insights into the whole build-up of the profitability model and getting more qualitative information as well.”

Learn More

To learn more, watch the KLM Customer Testimonial video and contact OneStream if your organization is ready to conquer the complexities of managing in today’s volatile economic landscape and lead at speed!

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In today’s fast-changing business and economic environment, managers can no longer wait until month-end or quarter-end to receive critical financial and operational metrics they need for decision-making.  We are hearing more and more demand from finance executives and line managers for daily and weekly metrics they can use to identify key financial signals and trends in their businesses that enable agile decision-making.

As a case in point, I recently had a chance to interview Lynn Calhoun, Chief Financial Officer at BDO, a global accounting, tax and advisory firm.  Read on to hear how BDO is delivering daily operational insights and financial signals to over 5,000 managers across the organization, as well as supporting their traditional financial close, consolidation, reporting and planning processes – all through OneStream’s unified, Intelligent Finance Platform.

Keeping Up with Growth and Increasing Complexity

Onestream Financial Signals

BDO USA is part of an international consortium of accounting, tax and advisory firms that operates in 167 countries worldwide.  BDO USA is the US arm of that global network and has been experiencing very significant growth over the course of the past ten years.  This occurred both through organic growth as well as M&A activity.

BDO had been using Oracle Hyperion for several years for financial reporting and planning and according to Mr. Calhoun, “It just wasn’t keeping up with our growth and the complexity of our business as it was continuing to evolve. And primarily in the operational area where we were trying to provide a lot of customer analytics to our user community.”

To address their needs, BDO had created 13 different Essbase cubes, which weren’t very integrated and required the users to go to different places to get the information they needed.  So they began talking to OneStream, and several of our customers, and became convinced that OneStream could handle the growing volume at the time, and what they expected in the future.

Moving to Right Time Finance

For their OneStream implementation, BDO used the “big bang” approach, implementing the platform for planning, reporting and analytics all at the same time.  In fact, the global pandemic of 2020 forced them to launch their new planning application a little earlier than planned.  But what’s really powerful is how BDO went beyond the traditional monthly reporting and planning process with their OneStream solution.

BDO was one of the first customers to leverage OneStream’s Analytic Blend capabilities to integrate detailed transactional data with their summarized financial data to empower managers with critical insights on a daily and weekly basis.  This includes critical data about their clients, projects, resources, billings, DSO and other metrics that help them guide the business.

According to Mr. Calhoun, “On the operational side, we’re pulling a lot of data into OneStream.  On a nightly basis will pull in our entire data set again and refresh that on a nightly basis. So anybody at any point in time can pull up data related to the projects that are running, the customers they’re responsible for, and see up-to-date information through yesterday and the performance of those projects and know that that’s something that has been a game changer for us.“

Having this daily information in front of the teams that are responsible for managing client contracts and engagements makes a huge difference in being able to spot problems quicker and to identify and address any issues faster.

Mr. Calhoun continued, “We’ve got 5000 users on the system on any given day. On an average day, we have a little over 400 to 450 people accessing the system. So not all in there every day, but they’re in there. When they are in there, the information they are looking at is current. And so it’s not like we’re waiting for a month end or mid-month to put the information in and have everybody go in at one time. It’s really designed to be more that the information is there when your schedule permits you to take a look at it, or when you want to take a look at it. And we’re not going to try to dictate when it’s available for you to look at.”

Learn More

To learn more, watch the 5-minute video interview with Lynn Calhoun and contact OneStream if your organization is ready to make the leap from multiple legacy applications to OneStream’s unified Intelligent Finance Platform for reporting, planning, analysis and beyond.

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In today’s global economy, logistical and supply chain disruptions are part of the new normal. Economic slowdowns are challenging organisations to anticipate supply strains, constantly changing consumer demand, labor shortages, and logistical support. To overcome these challenges, organisations need to be armed with agile insights, streamlined processes, and real-time data to remain resilient.

With a unified corporate performance management (CPM) platform, organisations have access to critical financial and operational data to quickly address challenges through data-backed insights and scenario planning. In this blog post, learn how Toll Group, a global transportation and logistic company, turned to OneStream to streamline its outdated and disjointed financial processes and the efficiencies they gained through this digital transformation.

Problem Solving for Global Logistics and Distribution

Toll Group is a global logistics, distribution and freight forwarding business. As part of Japan Post, Toll Group has dual headquarters in Melbourne and Singapore with approximately 20,000 team members to help solve any logistics, transport, or global supply chain challenges. Toll Group supports more than 20,000 customers worldwide and operates across 500 sites in 25 countries, with an Asia Pacific focus and a forward network spanning 150 countries.

Streamlining a Complex EPM Landscape

Toll Group was challenged operating with an outdated and fragmented ERP landscape and using Oracle Hyperion and EPM Cloud applications for financial close, consolidation, reporting, budgeting and forecasting. This system was complex, disjointed and costly to maintain and support. As Oracle’s support for their existing version of Hyperion was ending, Toll Group decided to re-evaluate their options in search of a more strategic, streamlined and better-integrated CPM platform.

Toll’s goal was to have the statutory consolidation and reporting processes for all legal entities handled by a single group team in a single system. Unifying this process would allow  Group governance and oversight on compliance activities and results analysis, while enabling divisional team resources to focus on internal budgeting and forecasting performance reporting and local ledger reporting development.

Selecting OneStream as the Future of Finance

Toll Group OneStream Customer using Corporate performance management

Toll Group embarked on a market scan to investigate alternative solutions, with a key business requirement of having one common consolidation and reporting platform across the organisation to address complexity. They also wanted to move to the cloud with the goal of significantly streamlining the number of integrations and data mapping points that were contributing to their time-consuming and error-prone month-end reporting process.

After seeing a demo of the OneStream platform in action, Toll Group’s Finance team realised that a unified environment for consolidation, statutory reporting, management reporting and analysis could allow them to effectively address key business requirements. The Finance team saw firsthand how OneStream offered a wealth of additional functionality, with the capability to improve Toll’s operational processes and efficiencies now and the flexibility to address future challenges as the company grows.

With OneStream’s unified platform approach, cloud-based model and proven record of customer success, Toll Group decided to invest in OneStream as the future of finance. With the help of OneStream partner James & Monroe, Toll Group implemented OneStream for financial consolidation, statutory and management reporting, and budgeting and forecasting.

Following the initial implementation, Toll Group decided to further leverage the initial build by implementing a tax-effective accounting solution and enhancements to their budgeting and forecasting systems, including the addition of bottom-up models, guided workflows, FX model scenarios and a global logistics customer profitability model.

According to Peter Smith, Group Finance Manager at Toll Group, “OneStream allows us to seamlessly roll up our business units’ financial data to the group level. The unified platform and the budgeting and forecasting enhancements OneStream facilitated mean that each subsidiary can model their budget at the level of detail required for their subsidiary and make the results immediately available to Group Finance.”

Leading at Speed

Replacing their fragmented legacy systems with OneStream’s single, unified platform is already paying dividends for Toll Group through improved data quality, insight and process control. Through OneStream, Toll Group is able manage the reporting of all legal entity results on one system. Toll is also leveraging OneStream’s Extensible Dimensionality® to standardise reporting and business unit budgeting and forecasting processes.

Toll Group has seen transformational effects and significant improvement in the accuracy and timeliness of reporting since implementing OneStream. OneStream’s automated processes have improved data quality, eliminating the need to manually handle massive amounts of data in Excel®. Additionally, Toll Group significantly reduced IT support costs and 3rd-party application support costs by migrating to OneStream’s cloud-based platform.

OneStream Customer Success using CPM platform

“Untangling our Oracle systems was challenging but OneStream provided the platform we needed to do it effectively. Moving to OneStream’s single, unified platform was a big change for the organisation to take on but all the business units are on-board with the benefits and are very happy with what has been delivered,” said Smith. “The fact that we can now trust the data in the system and all the organisation’s data is in one place and immediately visible when changes are made is a significant advantage. The delays we experienced with the legacy systems between the collection of data and the issuance of reports and analyses have been largely eliminated.”

Looking Ahead

Toll Group is evaluating additional initiatives to extend their investment in OneStream through both their core application and OneStream MarketPlace solutions. They are currently undertaking a pilot of OneStream’s Account Reconciliations & Transaction Matching MarketPlace solutions and investigating future implementations of capabilities including Cash Planning, Treasury schedules and registries, and tax compliance reporting.

Learn More

To learn more about Toll Group’s journey from Oracle Hyperion to OneStream, check out the case study and discover how OneStream unified the global organisation with powerful business insights. If your organisation is ready for a finance transformation, contact OneStream today.

Download the Case Study

Today’s organizations need the ability to seamlessly adapt to changing business conditions, requirements, and structures. This is specifically true when considering potential merger and acquisition (M&A) activity. M&A transactions are complicated and meticulous, and it can be challenging to devote the time and resources necessary to perform due diligence on critical software decisions when integrating companies. But when both parties involved are using outdated legacy software to perform critical financial and operational tasks, the solution is simple: start fresh by replacing all existing products with a new, modern approach.

A key benefit of modern corporate performance management (CPM) software is the agility these solutions provide organizations to plan and report through changing business conditions. With the right CPM software platform in place, organizations can gain a more holistic view of business data across entities and countries. This was the case for Signode Industrial Group, who after being acquired by Crown Holdings, faced a decision to upgrade their outdated Oracle Hyperion suite or explore the market for a proven Hyperion replacement. Read on to hear their story.

Addressing Supply Chain Needs

Signode Case Study OneStream

A leading manufacturer of transit packaging consumables, tools, and equipment that optimize end-of-line packaging operations, Signode is recognized around the world for improving load integrity and protection, while maximizing cost-efficiency and streamlining operations. From a singular protective packaging product to full turnkey packaging solutions, Signode offers a comprehensive portfolio of end-of-line packaging products and systems designed to protect, secure, simplify and streamline the bulk transportation of goods, continually adapting our product line to address evolving supply chain demands.

Headquartered in Tampa, FL, Signode Industrial Group is the Transit Packaging Division of Crown Holdings, Inc. employing over 8,000 people and operating at a revenue of $2.5B annually.

Fragmented Software and Processes

With 80+ manufacturing facilities across 6 continents, Signode has over 50 ERP systems and was using Oracle HFM, FDM, and Essbase to tackle complex financial operations. These legacy solutions were very complicated and required significant centralized support. There was a manual process to extract data from HFM and load and calculate it in Essbase. This also meant that there was frequently a data latency issue between HFM and Essbase.

In addition, the core Finance team had to centralize all mapping changes for trial balance submissions in HFM, rather than allowing the local teams to manage their mappings. With so many ERPs, it became an inefficient use of time and effort for both the employees and the support staff. Signode’s growing requirements meant that the company would need a Hyperion replacement that offered flexibility, scalability, and unification.

Evaluation and Implementation

While in the initial stages of their finance transformation journey, Signode was acquired by Crown Holdings, who was still on Hyperion Enterprise. While the Signode Finance team originally looked at upgrading their existing solutions with Oracle, upgrading from HFM to Oracle FCCS was going to be a very costly and time-consuming project. So, the company moved on to evaluate Host Analytics and Tagetik. However, they ultimately selected OneStream for the all-in-one license approach, flexibility, and strong customer references presented.

Crown had been using Hyperion Enterprise for many years and after the acquisition of Signode, had intended to jump on the company’s instance of HFM, only to find out Signode’s interest in OneStream. The Signode team went to work with OneStream to convince Crown that Signode’s plan was the best direction for this newly integrated company. So, the combined Crown and Signode teams implemented OneStream to replace both company’s legacy applications.

Empowering Local Users

Signode OneStream

Signode went live on OneStream for financial consolidation in April of 2020 and completed Phase 2 in Q1 of 2021 which focused on allocating costs to 40+ product lines to evaluate the profitability of each. Today Signode has approximately 180 users on OneStream from various departments including Accounting, Tax, Internal Audit, Treasury, and Corporate Development.

With 100+ business units, local users now have the freedom to submit financial data monthly, including trial balances and supplemental data such as volumes, headcounts, and AR aging. From there, the local controllers can easily make updates during the close, without requiring core Finance or Support teams to step in. In fact, Signode has eliminated one FTE related to system administration with OneStream and reduced the time spend on data submission each month by 30%.

In addition, OneStream’s automatic elimination for intercompany AR/AP, sales, interest, and dividends saves time and manual effort when processing intercompany activity using 25 different currencies. Plus the Excel Add-In feature enables users to create highly customized reports that drive performance by delivering key insights for financial, statutory, and management reporting.

An All-In-One Platform

Signode’s Excel Add-In now utilize OneStream as well, with unique scenarios set up in OneStream that represent all combinations of actual months to forecast months. Doing so has allowed Signode to reduce the forecasting cycle by approximately 2 days per month.

With OneStream Signode has seen improved automation, specifically across Price/Cost and Product P&L calculations. Local users have improved visibility into the data by using the drill back to trial balance function and mapped trial balance reports. And most importantly, there is now a single CPM platform for all of Crown/Signode which has improved data integrity, security, and controls. Signode looks forward to extending their investment in OneStream by building off their existing foundation with additional enhancements from the OneStream™ MarketPlace at lower incremental costs.

Learn More

To learn more about Signode’s journey from Hyperion to OneStream, check out the case study article and discover how OneStream unified the global organization with powerful business insights. If your organization is ready for a finance transformation, contact OneStream today.

Download the Case Study

Private equity investors have become a powerful force in today’s capital markets.  With a reported $1.5 trillion in cash as of January 2020, private equity investors have bolstered many private companies and have also purchased public companies and taken them private in order to fund new technology, make acquisitions, or restructure them and solidify their balance sheets.

With broad portfolios of companies to manage, private equity companies have unique needs when it comes to financial reporting, planning, forecasting, and business analysis and many are turning to OneStream’s unified CPM software solution as their platform of choice for these critical Finance processes.

Conquering Complexity in Private Equity

Picture a private equity company with say 100+ portfolio companies to manage and report the financial results on.  There’s quite a bit of complexity involved in collecting and consolidating financial results from 100+ companies and reporting results to stakeholders on a monthly and quarterly basis.  Then there’s the challenge of tracking and managing new investments and acquisitions as well as spinouts and divestitures.

From a planning and forecasting perspective, there’s the need to collect updated forecasts from portfolio companies on a regular basis, and a diverse workforce that must be considered in budgeting for salaries, benefits, and compensation.

And if getting access to summarized financial results from 100+ portfolio companies isn’t hard enough, consider the need to gain visibility into the more detailed operating results of portfolio companies.  It’s a tall task indeed.

That’s why a growing number of private equity companies are turning to OneStream as their strategic corporate performance management (CPM) platform. Private equity companies such as Antares Capital, Benchmark Holdings, The Carlyle Group, Main Street Capital, Melrose PLC, and many others are leveraging OneStream to conquer the complexity of financial close and consolidation, planning and forecasting, reporting and analysis of their financial and operating results.

OneStream in Action

Here are a few examples of how OneStream is delivering value for private equity companies.

Main Street Capital Corporation is a publicly traded company (NYSE: MAIN) who manages investment capital in excess of $4 billion. Main Street provides long-term debt and equity capital to lower middle market companies and debt capital to middle market companies. Their portfolio companies use a variety of accounting systems, including QuickBooks, Sage, Great Plains and others.

Before implementing OneStream, financial results from ~85 portfolio companies were collected in many different formats – such as Excel, PDFs, etc. for consolidation and reporting at the parent company level.    Now with direct access to OneStream, portfolio companies enter their month-end trial balances directly into the system for consolidation, which has reduced the process of collecting, consolidating and reporting the results from 5 days to 30 minutes.

In addition to the control and accuracy this provides to the Finance team, they can also load budgets and perform actual vs. budget reporting in OneStream and gain better visibility into the operating results of portfolio companies.   After their initial implementation, Main Street Capital extended their OneStream application to support free cash flow, debt waterfall, capital allocation and dividend income forecasting.  As a result, they are now able to continuously forecast for ~85 portfolio companies within a centralized framework and accurately plan capital investments, and track results across the entire portfolio.

The Carlyle Group is a global alternative asset manager based in Washington, DC, with offices on six continents. Carlyle invests across four segments – Corporate Private Equity (buyout and growth capital), Real Assets (real estate, infrastructure, and energy), Global Market Strategies (structured credit, mezzanine, distressed, hedge funds, and middle market debt), and Investment Solutions (funds that invest in private equity funds).

The Carlyle Group was looking to simplify their CPM landscape by combining three disparate tools into a single platform. Additionally, they were seeking a modern, extensible platform that was scalable to meet current and future business needs. The Carlyle team evaluated several alternatives and selected OneStream based on its ability to unify and replace their existing financial and HR planning systems, as well as Oracle Hyperion Financial Management (HFM) for financial consolidation and reporting, and other point solutions such as account reconciliations.

The implementation of OneStream has resulted in significant process improvements for Carlyle. For example, consolidating a full year of GAAP actuals was reduced by 50% while including significantly more detail than was previously loaded in Hyperion (e.g., project-level details).  They were also able to achieve significant process improvements in budgeting and planning.  For instance, submitting revenue and expense budget updates and reviewing the impact was reduced from 1 week to 5-10 minutes. And updating headcount assumptions and reviewing the impact was reduced from 1 week to 20 minutes.

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Helping customers conquer the complexity of their financial operations so they can lead at speed is a key focus of OneStream software.  In 2022 we passed the milestone of having over 1000 organizations across all industries around the globe leveraging our unified platform and MarketPlace solutions to address an ever-growing range of requirements.

To learn more about how OneStream is delivering value for private equity companies, check out our case study on The Carlyle Group and contact OneStream if you are ready to conquer the complexity of your financial operations.

Download the Case Study

To keep pace with ever-present business and technology change and challenges, organizations need a strong foundation for data and analytics on a global scale. Having these global insights enables sophisticated organizations to use evidence-based data to make decisions and plan carefully for their future. Doing so will open up possibilities to identify new business opportunities, to better serve customers, grow sales, and improve operations.

With the right corporate performance management (CPM) platform in place, organizations can gain a more holistic view of business data. By gaining the ability to analyze various levels of data between different countries, companies can gain vital information to better understand customer profitability with insight into vital data. This was the goal for OSI Group. A global food processor, OSI was experiencing difficulties digging into financial data at the customer, product, and geographic level with their legacy CPM application. But they were determined to make a change. Read on to hear their story.

Culinary Skill and Global Flavor Knowledge

Located in Aurora, Illinois, OSI Group is a 100-plus-year-old holding company of meat processors that service the retail and food service industries. A global leader in supplying value-added protein items and other food products to leading food service and retail brands, OSI’s products include meat patties, bacon, hot dogs, pizza, fish, poultry, and vegetable products. OSI today operates with 75 facilities in 17 countries and sells its products in 85 nations.

A Need to Unify Finance

OSI Group operates with a complex system landscape. The global company has over 15 ERP systems including many different versions of SAP primarily in North America, Microsoft AX, and Navision in Europe.

OSI was also using Oracle HFM for financial consolidation and reporting, but realized many inefficiencies for the global team, as well as the local entities, by using this legacy application. The reliance on manually loading data from ERPs by a CSV flat file into HFM created bottlenecks every month during the close process. The company was also using Hyperion FDM to load data, which added an intermediary step with separate software, separate license, and separate security. It was time-consuming and difficult for OSI to dig into data at the customer, product, or geographic level.

Facing a massive upgrade, and no solution in place for FP&A, OSI recognized the need to simplify financial operations with an intelligent finance platform. They became keenly focused on streamlining the data load process, while gaining the ability to address management reporting at the business unit level, and unifying financial processes in one platform.

Evaluation and Implementation

When it came time to evaluate CPM software solutions, OSI had some key requirements in mind. One of those requirements was the ability to see revenues and profitability on global customers. Another was the capability to see different views of OSI’s global operations while having each roll up to one corporate reporting structure. OSI was also looking at implementing ASC 842 for lease accounting, and once they saw OneStream offered Lease Accounting plus several additional MarketPlace solutions, they knew it would be the best fit.

Hosted in the cloud with 250 users, OSI Group went live with OneStream in August 2021. With their implementation partner, Nova CPM, OSI group first replaced HFM with OneStream for financial consolidation as well as financial and management reporting. Next was implementing OneStream’s solution for Lease Accounting, followed by financial planning and analysis in phase two.

The value of OneStream’s sophisticated consolidation functionality, Extensible Dimensionality®, and ability to direct connect to SAP were all key reasons why OSI implemented OneStream’s Intelligent Finance Platform. The ease of use of OneStream, while encompassing all global ERPs, and their various levels of data, into one solution was a game changer.

Powerful Extensibility and Granularity

Before OneStream, there was a high dependency on the local accounting teams to answer questions about the data. But now the global team can instantly drill into the data in OneStream to get that granular level of detail to explain a difference. With OneStream’s extensibility, OSI’s Director of Corporate Accounting can pinpoint fluctuations to an account and work with the local managers on why it changed. With more visibility into the individual units reporting, OSI has cleaner, more uniform data for better reporting in the long run. Now being cloud-based, OSI teams around the world use the same data to talk the same results with management and executives.

OneStream is significantly easier and faster for the local entities to load their data into the system, saving them at least a day of work. OSI’s Japanese joint-venture has even shortened the financial reporting process by 2.5 days, by completing the process in half a day. And with more data integrated in OneStream, OSI can have real discussions around customer and product profitability – and the ability to be more consistent with reporting globally.

The Value of an All-In-One Platform

OSI is also using OneStream for the consolidated budget, with entities entering budgets in their local ERPs then loading their information into OneStream. OSI plans to use OneStream for the rolling forecast and a driver-based planning project slated for late 2022.

OneStream’s Lease Accounting solution from the OneStream™ MarketPlace is being used across all of OSI’s global entities to tackle IFRS 16 and ASC 842 lease accounting requirements. With nearly 500 leases rolling through it, the solution enables OSI to easily make the necessary adjustments from IFRS 16 to US GAAP adjustment to get to a US GAAP view of the numbers.

In addition to Lease Accounting, OSI has also downloaded OneStream’s Transaction Matching solution from the MarketPlace and is looking into Task Manager as well. The company is also planning to test the Account Reconciliations solution for their corporate holding companies before rolling into Europe and Asia-Pacific entities. OneStream continues to enable OSI Group to unify financial consolidation, planning, reporting, and analysis through a single, extensible platform.

Learn More

To learn more about OSI Group’s journey from Hyperion to OneStream, check out the case study and discover how OneStream unified the global organization with powerful business insights. If your organization is ready for a finance transformation, contact OneStream today.

Download the Case Study

What does it take for a company to generate over $1 billion in revenue? It’s a lofty goal, requiring agility and flexible internal processes that can scale with the growth of the company. And when your clients are on the Fortune Global 500 and FTSE 100, streamlined financial processes and relying on timely, data-backed insights are essential in delivering customer value today while expanding capabilities to better serve a broad range of clients.

This was the challenge TMF Group faced while working towards their goal of EUR 1 billion in revenue. TMF Group, a multinational professional services firm, was challenged by a scattered ERP landscape and complex limitations within their legal and financial reporting structures. Learn how TMF Group streamlined and unified their complex financial processes with OneStream’s CPM software to expand their global footprint and achieve their goal of generating EUR 1 billion in revenue.

Global Compliance and Governance Experts

TMF Group is a multinational professional services firm providing accounting, tax, HR, and payroll services to businesses operating on an international scale. TMF Group consists of over 9,000 experts both in-house and on the ground across 125 jurisdictions and 85 countries. TMF Group is the only company worldwide to provide the combination of fiduciary, company secretarial, accounting, and tax, as well as HR and payroll services essential to the success of business investing, operating, and expanding across multiple jurisdictions. Headquartered in Amsterdam, The Netherlands, TMF Group’s internal finance team consists of 450 employees that work from one of three regional delivery center locations across the Americas, EMEA, and APAC.

Scaling a Global Business

TMF Group was challenged with a decentralized, scattered ERP landscape and various reporting tools, with no standard processes in place. TMF Group had been using Oracle Hyperion Financial Management (HFM) and Microsoft Excel® for financial consolidation and Power BI for reporting. The company was limited by their legal and financial reporting structures and needed a scalable, centralized CPM platform to drive growth in pursuit of growing the company’s revenue to EUR 1 billion.

Implementing a Unified CPM Platform

TMF Group partnered with AMCO Solutions, a global finance business provider of EPM and ERP solutions, to determine the best solution that met the company’s unique needs. Together, the team evaluated several solutions including CCH Tagetik, Oracle FCCS, and OneStream. TMF Group ultimately decided to implement OneStream as the Intelligent Finance platform proved to be the best solution to support the company’s growth strategy. TMF Group implemented OneStream for financial consolidation in January 2019, followed by FP&A functionality in May 2019.

“According to my predecessor who made the purchasing decision, OneStream license costs were slightly higher compared to the other vendors, but the solution was broader and more powerful with an average ROI of around 5 years,” said Wiebe Wijnia, Director of Accounting and Control, TMF Group.

Streamlining Complex Financial Processes

By migrating from HFM to OneStream, TMF Group created a scalable platform that prepares the company for the future. TMF Group was able to centralize the Finance function with OneStream, enabling the finance team to perform critical business processes faster and more efficiently. As a result of this centralization, data quality has also improved.

Users enjoy the streamlined look and feel of OneStream compared to HFM. Referred to by Wijnia as a “one-stop solution,” OneStream’s functionality is integrated into a unified platform that allows users to easily access information in one place without the need to switch between different windows. TMF Group can easily upgrade the platform or customize capabilities to create different purpose business rules, build advanced dashboards, and more.

Since implementing OneStream, TMF Group’s Internal Finance local offices have also benefitted from improved data quality and reduced time spent on a local level. “The process and people are drivers in speeding up our month-end close, and the OneStream technology has been an accelerator,” said Wijnia. “Having a scalable platform in place has really supported our finance transformation to help TMF Group grow towards a EUR 1 billion revenue company. OneStream has been critical in further strengthening the central data-driven Finance organization and steering the company to achieve our strategic goals.”

Looking Ahead

Since implementing OneStream, TMF Group has expanded their platform investment by implementing solutions for tax provisioning, lease accounting, and HR data integration. TMF Group is focused on doing even more with the platform, with a heavy focus on budgeting and forecasting. The company is also further integrating the local ERP with OneStream for budgeting & forecasting and account reconciliations.

“A finance digitalization journey starts with having the right team and partner,” said Wijnia. “Together with AMCO as our partner, TMF Group has improved financial operations significantly. The continuous drive to improve and do better than yesterday is important to make steps forward for our organization.”

Learn More

To learn more about TMF Group’s journey to modernize financial consolidation, FP&A, and reporting in its case study. If your organization is ready for a finance transformation, contact OneStream today.

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How do organizations operate effectively and efficiently when faced with the challenge of managing multiple legacy systems and disconnected processes? The answer is simple: they can’t. To achieve business process unification, it often requires consistency and collaboration from various departments, each working towards a common goal. That’s why so many organizations are ditching fragmented corporate performance management (CPM) systems and replacing them with a single, unified platform that can achieve the goals of stakeholders across the organization.

After facing rapid growth – both organically and through acquisitions – Hoist Finance found themselves in a similar situation. As Europe’s leading debt management company, Hoist Finance needed a better understanding of how the organization is performing, where and what they’re spending on, and alternatives they face moving forward in their processes. To achieve this, they discussed their vision for the future of the company with key leaders and business partners. Then they looked inwards and analyzed the bottlenecks in their current processes and areas for improvement – all this before going out into the market to find the perfect solution. Read on to learn more about their finance transformation journey and how they met their goals.

Europe’s Go-To for Debt Management

Founded in 1994, Hoist Finance has been continuously committed to helping people get back on track with paying off their debts. Hoist Finance shows a best-in-class, professional approach to debt management by setting up trustful relationships while trying to understand the situation that each individual customer is facing. With a strong presence in 13 countries across Europe, Hoist Finance employs over 1,600 people who work collectively to contribute to upholding a sustainable, fair, and stable credit market.

Inheriting Legacy Systems

After experiencing significant growth through acquisition activity, Hoist Finance was facing the high cost of maintaining multiple legacy systems, including licensing, maintenance, and support. It became time-consuming and resource-intensive to complete compliance and reporting processes with transparency. Plus, the burden of inheriting new processes and systems was not ideal for the company’s IT team.

Anticipating continued growth, Hoist Finance wanted to eliminate the risk of manual error when managing multiple data sets in Excel spreadsheets. Add with the imminent end of life of their existing financial consolidation tool, Oracle Hyperion Financial Management, it was clear that the business needed a scalable and strategic CPM software platform that could tackle their complex financial operations.

Putting A Plan In Action

Hoist Finance took careful steps in their evaluation process by understanding their exact needs across the organization before inquiring in product demonstrations. Key stakeholders were brought in early to build a picture of the control model that would give everyone a clear vision from the outset. Together, Hoist Finance declared a clear goal: to be able to measure actuals against planning in real-time.

Collectively, there were additional requirements that could help the Finance organization at large. This included transaction-level drill-down capability, multidimensional views of data, monthly follow-up of actuals against planning, and reduced rework of data.

Implementing an Intelligent Solution

Now, Hoist was ready to go to market. It wasn’t long before OneStream became a strong contender, as a flexible solution offering financial consolidation integrated with planning in one single platform. OneStream unifies the entire financial management lifecycle, resulting in a standardized approach to budgeting, planning, and forecasting that connects seamlessly to reporting and analytics.

Within two months of the start of implementation, Hoist Finance were able to roll out their annual budget on the OneStream platform. They also started retrieving actuals and completed their Q1 report just two months later.

Conquering Complexity with OneStream

Hoist Finance saw an immediate return on their solution investment in OneStream. With a single platform offering one entry point to all their data, there is no longer a gap between planning and actuals. Rather than accessing and analyzing multiple sets of numbers, Hoist Finance now retrieves reports as needed, at whatever level of detail is needed, without sorting through multiple datasets from varying sources.

OneStream’s unique Extensible Dimensionality™ lets any business unit produce consolidations and reporting at different levels of detail, without affecting corporate standards. Now every department is in charge of their own projects and project costs, allowing the Project Management Office to go back to doing the core part of their work instead of chasing invoices. On-demand access to powerful reporting capabilities provides Executive Management the ability to make strategic decisions at their fingertips. Thanks to the OneStream platform, Hoist Finance can now look to implement driver-based planning, rolling forecasts, and other techniques that provide true business agility.

Moving forward, Hoist Finance will continue to improve forecasting and reporting using the OneStream platform, as well as tools available on the OneStream MarketPlace. Guided workflows will speed up data collection and entry, freeing business users to focus on performance over planning. Each phase of development will further extend the value of the platform.

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When approaching a large finance transformation project, it is important to do due diligence and create a common goal that will benefit more than just the users plugging numbers. Focusing attention on the bottlenecks and processes that are critical to overall project timeline, it provides an easy way to determine the effects of shortening various jobs, manual effort, and duplicate work, to deliver more value back to the business in the long run.

OneStream has proven time and time again to be the preferred alternative to fragmented spreadsheets and legacy systems by not only streamlining process but providing improved visiblity to critical business data. To learn more, check out the Hoist Finance case study article and contact us today if you’re ready to make the move from outdated CPM applications to an intelligent finance platform.

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There have been significant strides in financial reporting technology in the last decade, and large corporations have taken notice. Businesses that greatly value efficiency strive to maintain functional management practices; incorporating a simple and unified process for reporting, financial consolidation, planning, budgeting, and operational analytics is, therefore, a worthwhile investment.

Eutelsat offers high-speed access to information around the globe and is acclaimed as Europe’s leading provider of fixed satellite services. The company was looking to discontinue the use of its legacy financial management system, which lacked utility and was inefficient at producing significant business figures. A modern solution that would combine financial consolidation, reporting, and management control into one unified system while also being flexible enough to guarantee a smooth transition was viewed as ideal, but the company was still uncertain of what the market had to offer. Read on to learn about Eutelsat’s finance transformation journey and the successes they have seen by replacing its legacy enterprise performance management solution with OneStream.

Transmitting Information Across Five Continents

Eutelsat

Founded in 1977 and headquartered in Paris, France, Eutelsat operates a fleet of 36 satellites working for telecom operators, broadcasters, video service providers, government agencies, and ISPs across five continents, including Asia, North America, South America, Africa, and Europe. Eutelsat is recognized as one of the world’s leading satellite operators, breaking new ground as a market leader with over 1,200 employees from more than 50 countries. The company shows signs of a promising future, one being that it has recently acquired competitor U.K. satellite firm, OneWeb, in an attempt to rival Elon Musk’s SpaceX Starlink satellite internet project.

 

The Journey to a Modern CPM Solution

Eutelsat needed a new solution for their finances that would be capable of combining financial consolidation, reporting, and management control into one unified system, produce critical business figures in a shortened amount of time, guarantee a smooth transition, and serve as a useful application for the Consolidation, Accounting, and Management Control teams. According to insight garnered from several teams’ feedback, Eutelsat’s legacy EPM solution was inherently flawed, with an inconsistent system landscape and limitations in its usefulness.  It was clear that it was not suitable enough for all of Eutelsat’s financial needs, so the company decided to disband it and explore the market.

In the search, Eutelsat’s finance team evaluated several key factors, including expected functionality, the handling of current processes, its utility for different departments, and technical architecture. Eight distinct software vendors emerged as suitable candidates, so Eutelsat requested a POC from them. OneStream stood out, as their representatives and implementation partner, Nell’Armonia, part of Accenture, spotlighted the award-winning software, proclaiming its status as one of the leaders in its industry. OneStream’s EPM software was unique compared to its competitors because it unifies several programs utilized by departments into one software application, has a smooth workflow system, encourages platform growth via the OneStream MarketPlace, and stores multi-dimensional data in the cloud.

Eutelsat was intrigued and decided on OneStream; then began the road to implementation. The process was divided into two phases: the first phase addressed planning and management reporting, along with the management control of budget preparation, and the second phase emphasized handling statutory consolidation. Nell’Armonia methodized its own tactical plan to provide aid to Eutelsat throughout these phases.

The One-Stop Financial Solution

Eutelsat immediately recognized benefits after partnering with OneStream, as there were significant improvements to process optimization. Methods for budget preparation were overhauled in exchange for a modern approach, and the Management Control team experienced ease in overseeing and troubleshooting the software, which was a significant issue they had with their legacy EPM solution. The staff of Eutelsat’s finance department were ecstatic with the abundance of new and modern features at their disposal, including modern project scheduling tools and the integration of Excel®. The Consolidation and FP&A teams thrived like never before from OneStream’s adoption.

According to Romuald Bichot, Group Controlling Director, and Guillaume Giacomini, Head of BI and EPM at Eutelsat, “With OneStream, we have the application that we wanted when we wrote the specifications. We can measure the immediate gains, and we can also project future gains, thanks to the win-win relationship we have established with Nell’Armonia, part of Accenture, around the implementation of OneStream. We look forward with confidence to further development and even greater benefits.”

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To learn more about Eutelsat’ unique OneStream journey, we invite you to read their Customer Success Story. And if your organization is ready to begin your finance transformation journey, contact OneStream today!

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Managing the reporting requirements for a conglomerate company can be a daunting and overwhelming task, as there are many moving and ever-changing factors. It is essential that conglomerate companies incorporate modern financial applications so that Group Finance can produce effective and accurate work and keep all independent businesses operating smoothly.

Wesfarmers comprises some of Australia’s most notable retailers such as Target, Bunnings, and Kmart, who each have their own form of self-governance and enterprise reporting methods. The company’s existing financial management system, could not efficiently manage their enterprise reporting, which encouraged their Finance team to heavily rely on offline spreadsheets. A change to their financial reporting system was prioritized, and the company’s leadership knew that the sooner it found a solution for Group Finance, the quicker the Finance team could optimize the software to their needs. Read on to learn about Wesfarmers’ finance transformation journey and the successes they have seen by replacing their existing finance management system and offline spreadsheets with OneStream.

Founded in 1914 and headquartered in Perth, Australia, Wesfarmers has operated Australian businesses that sell merchandise such as office supplies, fertilizer, and energy. Wesfarmers is known as one of the most successful and influential businesses to come out of Australia, ranking at 195 on the Fortune Global 500 and having over 100,000 employees. It has also had ample financial success, as its 2021 annual revenue was 33.94 billion Australian dollars, an increase of 43.5% from the previous year.

A Modern CPM Solution is Realized

Wesfarmers needed a solution for Group Finance that would be capable of handling non-standardised data outputs and inputs, streamlining data collection, managing complex consolidations, and handling advanced group reporting. Wesfarmers utilized Oracle’s Hyperion Financial Management (HFM) suite as part of the financial reporting process, but frequent reporting requirement changes were often through offline spreadsheets. Further, the situation became even more problematic when it was announced by Oracle that the version of HFM they were using would cease to be supported after December 2021.

Therefore, Wesfarmers sought a new system for Group Finance, prioritizing reliability, safety, and utility in their search. Representatives engaged in discourse with possible candidates such as CCH Tagetik, and Oracle. Still, they became mainly intrigued with OneStream’s Intelligent Finance platform after learning about it from consultants at Taysols, a prominent Australian service provider and partner of OneStream. OneStream’s platform provided a solid foundation against which the financial reporting process was significantly improved, as it allows conglomerate companies to efficiently address group reporting and monitor group performance data. After coming to an agreement with Wesfarmers, Taysols aided in the company’s transition from their Oracle HFM system to OneStream.

All-in-one Financial Solution

Wesfarmers immediately recognized benefits from partnering with OneStream, as group reporting became mainly automated, consolidation processes were significantly improved and their group reporting pipeline was modernized. The demand for spreadsheets diminished.

Following the implementation of OneStream, Wesfarmers’ senior executives could receive answers to their questions in minutes, rather than days. The outdated approach to the presentation of information was also replaced with modern and streamlined dashboards and reports.

OneStream provided Wesfarmers staff with detailed monthly progress reports concerning its subsidiaries. Previously, Wesfarmers’ subsidiary reports were audited in hundreds of offline spreadsheets; reports under OneStream are audited in the cloud.

Partnering with OneStream armed Wesfarmers with an all-in-one financial solution. Tedious manual processes became automated, data management became more organized, financial analytics were presented with more intricate details, and subsidiary performance reporting was simplified. Group Finance has never been easier for company leaders under OneStream.

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To learn more about Wesfarmers’ unique OneStream journey, we invite you to read their Customer Success Story. And if your organization is ready to begin your finance transformation journey, contact OneStream today!

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When searching for a corporate performance management (CPM) platform, what are the key differentiators that are important for your organization? Typically, choosing a highly available, high-performing, and innovative CPM software solution that will support long-term financial goals is top of mind. This is because when you invest in a leading software, you plan to rely on it for the long run. Customers should not have to worry about making organizational-changing decisions when a vendor decides to discontinue a product or force a reimplementation. However, it may just lead you to the right solution.

This was the case for John B. Sanfilippo & Son, Inc. which had been using SAP BPC for financial reporting and sales forecasting for 14 years. With the approaching retirement of their version of BPC, JBSS was faced with a decision to find an SAP BPC replacement. Do they continue with a CPM vendor that was challenging to work with?  Do they move forward with a costly rebuild and disruptive re-implementation? Or do they explore the market for a modern and innovative CPM platform that would conquer their complexities? Read on to hear their story and learn about the success they’ve seen since switching to OneStream.

Global Leader and Expert in Nuts

John B. Sanfilippo & Son, Inc (JBSS), processes and distributes tree nuts, peanuts, and nut products through distribution channels in the United States and around the world. JBSS is a major processor and distributor of snack and recipe nut products, offering raw and processed nuts in various styles and seasonings. The company’s nut and dried fruit-based products are sold under a variety of private brands including Fisher®, Orchard Valley Harvest®, Squirrel Brand®, Southern Style Nuts®, and Sunshine Country® brand names.

The company was founded by Gaspare Sanfilippo and John B. Sanfilippo in 1922 and is headquartered in Elgin, IL. Today, JBSS operates with around 1,200 employees across four plants including their headquarters in Illinois, peanut sheller in Georgia, pecan sheller in Texas, and walnut sheller in California.

A Need for Change After 14 Years

After using SAP BPC as their internal sales reporting system, financial reporting system, and forecasting tool for the past 14 years, JBSS was feeling stuck. While SAP BPC satisfied the company’s original needs, the legacy CPM application was not providing any innovation as JBSS continued to evolve. The finance team was jumping through hoops because SAP BPC was not capable of handling their unique reporting needs, which included information at the base level and across multiple hierarchies where data expanded. It was difficult to make top-down adjustments and too much time was spent on manual manipulation of the data.

Contacting SAP Support was challenging and in addition, SAP BPC was reaching its end of life. SAP began pushing customers to convert to SAP’s Cloud solution, which would be a substantial undertaking in effort and cost. So, why not look at the market?  JBSS looked at 5 leading solutions before landing on OneStream. OneStream gave JBSS their customer list which allowed the company to hear from real customers about their experience with functionality, upgrades, and support. Doing so sealed the deal, and JBSS started its migration from SAP to OneStream.

Implementing an Intelligent Finance Platform

JBSS worked with both OneStream Consulting Services and OneStream implementation partner, Black Diamond Advisory on the implementation. JBSS looked to replace their sales and finance cubes in SAP by moving GL reporting, forecasting and financial planning, balance sheet comparisons, income statement comparisons, and more into OneStream. JBSS also took advantage of OneStream’s Analytic Blend technology to handle larger data sets in the sales cube. JBSS is now live with OneStream for budgeting and forecasting, planning, sales forecasting, and financial reporting. OneStream was deployed in the cloud which allows JBSS to benefit from high availability, performance, and stability.

Conquering Complexity with OneStream

With OneStream’s unified CPM software, JBSS is now able to get the latest costs, volumes, and expenses that help reforecast the annual budget and provide executives visibility to change or shift data as needed. Thanks to automated calculations, Corporate Finance is no longer responsible for centrally managing templates and pushing them out to the users for updates. The Financial Planning team has gone from maintaining 30 Excel templates to 1 master template in OneStream. The users now have the power to download templates themselves, make changes and upload them back into the system.

JBSS has also shortened the forecasting process from 2 weeks to 2 days. The Sales team can forecast quantities like the number of pounds shipped, price per pound, etc. with all revenues and costs driven off those quantities. Once the rates are loaded, everything is calculated automatically in OneStream. No more manual manipulation.

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When faced with the challenge of a platform reaching its end of life, it’s important to know the potential paths forward including alternative options. The story of JBSS’s SAP BPC replacement is just one example of how complex organizations around the world are leading at speed by repacing legacy CPM applications and spreadsheets with a modern CPM software. OneStream is the proven alternative for SAP BPC customers by enabling customers to extend and future-proof their CPM platform investment. To learn more, check out the JBSS case study and contact us today if you’re ready to make the move from outdated CPM applications to an intelligent finance platform.

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It’s hard to beat the exhilaration of a bluebird day skiing down a freshly powdered mountain with the freedom to unleash full speed ahead down the slopes. Just as skiers look to the mountains as a breath of fresh air and an escape from everyday life, organizations struggling with outdated, complex, and disjointed legacy performance management systems also seek that same feeling of freedom from the stress brought on by outdated finance applications.

Alterra Mountain Company, a family of 15 iconic year-round destinations including the world’s largest heli-ski operation, was buried in the wake of journal entries and fragmented information from their decade-old Oracle HFM system. Read on to learn how Alterra Mountain Company digitally transformed to streamline its finance processes by replacing Oracle HFM with OneStream.

Uphill Battle with Outdated Legacy System

Headquartered in Denver, Colorado, Alterra Mountain Company was formed in the summer of 2017 through the merger of several companies. The company owns and operates a range of recreation, hospitality, real estate development, food and beverage, retail, and service businesses with destinations spanning six U.S. states and three Canadian provinces.

The core company that became the foundation of Alterra was using an outdated, decade-old version of Oracle Hyperion Financial Management (HFM) for a consolidation system. The people who had installed and managed the application were no longer with the company, and the individuals left to take over the system were challenged in maintaining the application.

According to Andrew Renken, Vice President of Enterprise Applications and Program Management Office at Alterra Mountain Company, “There were upwards of 1,000 top side journal entries accumulated over that decade. Unfortunately, very few individuals understood the history that come forward with that installation, and ownership had very few means to find the business outcomes they were trying to see in HFM.”

Unifying Financial Processes for a Streamlined Approach

Alterra had a mission to upgrade the company’s back-office applications, including switching ERP systems from a multi-platform landscape to standardizing on Microsoft Dynamics 365. Once the core financial information was established in the ERP, the Finance team started to evaluate their needs for financial consolidation and reporting. “A pending acquisition created the need to align fiscal years across the business, so with that, we had to make a decision,” said Renken. “We were on an old version of HFM and we started a conversation with leadership about how we wanted to move forward.”

Renken continued, “We knew that the costs to upgrade Oracle HFM and ongoing costs to maintain it would be substantial. We considered upgrading to Oracle EPM Cloud, but the valuation was quite short and frankly non-existent. We knew if we were going to make the investment, we wanted a platform we could grow with and leverage across many business processes — so we immediately looked at OneStream.”

OneStream was ultimately selected for its dedication to customer success along with the platform’s efficient and sleek user interface. OneStream’s attentive attitude also stood out to Renken and his team as a key differentiator. Renken noted, “The partnership is just as important as many aspects of the solution itself, especially for a very prominent platform that will be in our organization for years to come.”

Alterra operates in both CAD and USD with a lot of intercompany activity between 145 accounting entities. OneStream’s multiple ownership and consolidation methods were able to manage this complexity – serving as another key reason Alterra chose the platform to replace HFM.

Leading at Speed

Upon selecting OneStream, Alterra was quick to start the project with The Hackett Group, focusing on the implementation of financial consolidations in OneStream. Alterra’s users started to see the value of OneStream before the company was live. According to Renken, “Although it wasn’t part of the original scope, there was an additional business need to solve for account reconciliations, so we did a parallel effort to transition to the Account Reconciliations solution on OneStream.” Through this transition, Alterra was able to replace Trintech and Excel® for account reconciliations by creating a unified process in OneStream.

OneStream also supports private GAAP reporting, financial consolidation, and account reconciliations for Alterra – addressing one of the company’s biggest challenges with Oracle HFM. “With OneStream, Alterra has seen a dramatic savings of time to close the books, going from a five-week to 3.5 weeks close for the fiscal quarter close,” said Renken. “The team is really hitting their stride now with the close process. We are saving 30 to 40% of the time it took to close the month-end and quarter-end previously with HFM.”

Looking ahead, Alterra plans to continue unifying its financial processes on OneStream’s platform with a long list of capabilities to take on next including implementing budgeting and planning, along with a few additional solutions from the OneStream MarketPlace. Added Renken, “We chose a best-in-class solution that we could grow with our organization and adopt more capabilities over the long term.”

Alterra Mountain Company

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To learn more about Alterra Mountain Company’s OneStream journey, check out their case study here. If your organization is ready for a finance transformation, contact OneStream today.

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