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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Many Finance teams rely on Excel® spreadsheets as a basic solution for budgeting, planning, and forecasting. For smaller, less sophisticated organizations, doing so often seems like a reasonable approach as Excel® is usually available as part of the default company infrastructure. But the truth is, Finance teams quickly get bogged down with managing error-prone, tedious spreadsheets and are hampered by a tool that lacks workflow capabilities and audit trails.

These hidden costs of spreadsheets limit Finance leaders’ ability to focus on their true value in supporting decision-making across the enterprise. Read on to learn how FibroGen migrated from the burden of Excel spreadsheets and a legacy planning system to OneStream’s unified corporate performance management (CPM) software.

Envisioning a Streamlined Solution Beyond Excel and Legacy Planning System

As a maturing organization, FibroGen, a leading science-based biopharmaceutical company, faced similar challenges. FibroGen initiated a massive transformation from being a pharmaceutical development company to a global multi-channel commercial business. In order for the transition to be successful, FibroGen needed a more sophisticated CPM software solution than their Excel®-based planning models and 20-year-old legacy budgeting system.

To address these complex business needs, Alex Lee, Senior Director of Corporate FP&A of FibroGen, envisioned a unified enterprise performance management (EPM) solution for budgeting, planning & forecasting, financial consolidation, reporting, and tax provisioning. To complete the vision, Ms. Lee wanted an intuitive user interface that empowered FibroGen’s scientists and business leaders, in addition to the Finance team, to lead and support enterprise decision-making. Most importantly, FibroGen wanted to implement a solution that could expand their capabilities for commercial revenue planning and to monitor and manage the business now, while laying the digital foundation for future expansion.

After a thorough analysis of the CPM market, Ms. Lee found that OneStream’s unified CPM platform was the only solution that could achieve everything she envisioned. In the words of Ms. Lee, “We wanted to make sure we were able to do the things we needed to do now and get set up for the future.”

Adopting a Modern CPM Platform

FibroGen selected OneStream as the only solution capable of achieving its vision of digital transformation and began the journey – from vision to design to implementation – of adopting a modern CPM platform. FibroGen’s key project goals included:

Benefits Achieved by Replacing Excel® and Legacy Planning System with OneStream

OneStream’s unique Extensible Dimensionality® empowered FibroGen’s Finance team with the planning and forecasting agility needed to align activity-level pharmaceutical development to financial performance and cash requirements, enabling leadership with a unified view of the company on a real-time basis. This functionality was met by implementing a flexible hierarchy and allocations that allowed for operational expense planning at a granular, activity level while also enabling longer-term personnel planning at a more strategic level across aggregated activities. FibroGen can now maintain separate consolidation models – within a single unified platform – for its US and China entities.

FibroGen’s Finance and non-Finance users can now access all budgeting, planning & forecasting, and reporting activities within OneStream’s unified platform, instead of in bulky, disconnected spreadsheets. Now when end users submit their activity-based plans through OneStream, Finance can immediately see and act on the information without having to manually export spreadsheets and align data. OneStream’s dashboards and guided workflows empower both Finance and non-Finance users with an elegant and intuitive interface that guides them through tasks and present accessible reporting.

Realizing the Vision

Immediately after completing the OneStream implementation, FibroGen initiated a bottom-up corporate budget and rigorous review process with its new CEO. With every aspect of the budget being challenged, OneStream’s flexible platform easily handled several budget revisions from the business teams, quickly aggregated changes, and produced critical reports for management during each iteration.

With OneStream, FibroGen has gained agility with faster and more accurate management and financial reporting. Through People Planning from the OneStream MarketPlace™, FibroGen is able to dynamically model and plan each project down to the activity and employee level. The platform’s intuitive interface allows both Finance and non-Finance users to access actuals, budgets, forecasts, and other information for both China and the US.

According to Ms. Lee, OneStream has exceeded all expectations:

“With impending growth and transition, we sought a solution that can support a program-driven planning process and complex calculations and modeling with the ability to expand to include consolidation, reporting, accounting close automation, SEC reporting and tax provisioning. We had a very specific vision in mind. It has been 10 months since go-live, and I’m still profoundly touched by the magic that is OneStream. Everything and anything is possible with OneStream. Dare to dream and be careful what you wish for.”

Learn More

To learn more about FibroGen’s journey to modernize budgeting, planning, and forecasting, watch the replay of its Customer Success Webinar and read more about its OneStream journey in its case study. If your organization is ready for a finance transformation, contact OneStream today

Download the Case Study

At OneStream, our vision is to build a world where finance organizations globally can leverage modern CPM software applications that unify and streamline processes across the enterprise. With a deep passion for what we do, our goal is to minimize system maintenance and the effort of manually compiling data so finance teams can become more agile in driving value back to the business.

Sounds too good to be true? Well, don’t just take my word for it. Committed to delivering 100% customer success, OneStream saw a 38 percent growth in its customer base in 2021, reaching over 900 enterprises worldwide – each with a unique story! Below we’ve recapped the most popular OneStream Customer Success Webinars of 2021 and invite you to hear firsthand the benefits our customers have achieved with our modern CPM software platform.

Workforce Planning at Bunge: Aligning People with Strategy and Performance

For more than two decades, Bunge has worked to improve the global agri-food chain by connecting farmers to consumers to deliver essential food, feed, and fuel to the world. After completing a successful financial consolidation project in OneStream, Bunge wanted a better view of workforce costs across different GL structures and 40+ currencies. The decision was then made to implement People Planning from the OneStream Marketplace to align financial results and help plan for 25,000 employees worldwide. But that’s not all. Bunge also created a Zero-Based Budgeting process to plan employee cost by function, with a clear view of the organization headcount for global managers.

Hear from our customer, Bunge, on how their workforce planning processes align resource planning, strategy, and financial performance across 360+ locations around the globe. Watch the webinar replay to learn how Bunge is using OneStream to bring all their initiatives together in one CPM software solution.

“With one process, ‘One Bunge’, we have started our journey to strategic workforce planning. We moved out of a very decentralized process to a global view for workplace planning and are able to see how many people we have in our company at a given time, and at what cost. In addition, we have built global consolidated bottom-up employee costs into one platform and created a seamless integration with the zero-based budget. We have moved from pure cost projections to having workforce insights to focus on the critical business needs and talent gaps.”Isabelle Di Maio, Director Total Rewards, Bunge

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Streamlining Financial Operations at Azelis

An innovative solution provider for specialty chemicals and food ingredients distribution with a global presence, Azelis operates in 58 countries across multiple business areas. With over 2,500 employees, Azelis serves more than 45,000 customers and is a global player active with many legal entities and in many countries. Azelis needed a reliable financial consolidation system to report in many dimensions, several currencies, in addition to reporting their record M&A growth. Specifically, they were searching for a future-proof, modern, and cloud-based corporate performance management software to conquer their business complexities.

Today, Azelis is benefiting from financial and operational alignment with the ability to complete financial consolidation and reporting in Euros and the flexibility to present product reports in relevant local currencies. Watch the webinar replay to learn how the organization’s need to prepare reports in several dimensions including legal entities, country, region, and market segments, led them to select OneStream Software.

“Our outcome with OneStream has been very positive. We checked with users across the globe and their feedback was that the OneStream system is very user-friendly. It has a better look and feels. It’s faster and the performance has much improved vs. with SAP BPC. And from the perspective of the central consolidation team, they have enforced an improved process in OneStream. They have better control on the progress of local processes that they can monitor centrally, which has also improved the quality of the data.”Bram Janssens, Group Controlling and Accounting Director, Azelis

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How AFL Went from On-Premise to Cloud for an Optimal CPM Software Experience

AFL is a telecommunications fiber optics company operating in 39 different currencies and servicing over 150 companies. A longtime customer, AFL implemented OneStream 6 years ago as an on-premise solution but began looking for new ways to integrate the CPM software globally. Being such a diverse company and working in various countries, AFL was having concerns around the uptime and security of the system because users were accessing the network through a virtual desktop.

Watch the webinar replay to learn how the IT team presented the benefits of moving to the cloud and what AFL could gain security-wise, in uptime for users, processing speed, plus cost savings and resource cutting as they continued to expand globally.

“For us, it was a no-brainer to move from on-premise to the cloud and the result has been phenomenal. Not only would it increase the availability of our people to get into our system more securely, but it would also increase their uptime and processing capabilities. Once the move was completed, we saw no negative impact to our users, security was phenomenal, and our users were gaining instant access to the software. We have not had any issues since we migrated back in 2016. The speed is good and we have not had any downtime issues. We close the books in 3 days and we have 2,500 recons that have to be done in 5 business days. So we bombard the system like crazy and we’ve never seen any hiccups.”Pam Brady, IT Infrastructure Solutions Architect, AFL

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Supporting Sasfin Bank’s Future Growth with a Scalable, Flexible CPM Software

Headquartered in Johannesburg, South Africa, Sasfin is a bank-controlling company that provides a comprehensive range of specialist financial products and services for business and wealth clients. Over time, Sasfin faced many complexities both in business and in finance and recognized the need to create trust and reliance between the two through standardization. This was because, the business was reporting out of the line of business systems, meanwhile finance was using the GL, and the two were not reconciling. A lot of effort was put into explaining the numbers and a lot of time was spent reconciling which resulted in many frustrating discussions. There needed to be a change to drive value through the numbers, instead of arguing about the numbers.

The arrival of a new Financial Director brought the opportunity to look back and reflect on systems and processes in place which led to a finance simplification project. Watch the webinar replay to learn how Sasfin Bank found a new home for management, regulatory and statutory reporting, while also considering budgeting, planning, modeling, and predictive analytics moving forward. Learn how OneStream’s unified CPM software-enabled Sasfin move away from Excel and manual data processing.

“Doing an implementation over year-end was not without its challenges. That said, we saw such a huge improvement in data quality and governance when compared to the prior year. Having now implemented and worked with OneStream, there has been a cultural shift that occurred within finance. All activities are running with clear milestones and timelines. There’s a consistency and robustness that has been introduced into our reporting process that was not there in the past. And a significant amount of time was saved on consolidations and producing our annual financial statements at legal entity and bank levels. I am looking forward to realizing more benefits from our people and our business.”Josh Souchon, Group Chief Digital and Change Officer, Sasfin Bank

Watch the Replay

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These are just some of the stories that are powerful examples of the benefits our customers achieve by replacing legacy CPM products and spreadsheets with modern CPM software. OneStream has a growing number of customer success webinars that we invite you to explore. Check out the Customer Success Webinars library on our website for more examples of the value achieved with OneStream and contact us today if you’re ready to make the move to an intelligent finance platform.

Watch the Replays

In today’s complex and rapidly changing world, the need for accurate and reliable data within the Finance organization is more important than ever. As a business grows, managing various data sources across the enterprise is a big challenge for finance teams. Financial close management is even more important to avoid the risk of incorrect, missing, or incomplete data.

With a history of growth through complex acquisitions, the finance team at Post Holdings found themselves in a manual and time-consuming process for financial close and account reconciliations. They needed corporate performance management (CPM) solution that could effectively compile financial and nonfinancial data across its portfolio. Read on to learn how Post Holdings turned to OneStream for financial close management to create a single source of financial truth across the organization.

Established CPG Holding Company

Post Holdings, Inc, headquartered in St. Louis, Missouri, is a consumer packaged goods holding company operating in the center-of-the-store, refrigerated, food service, food ingredient, and convenient nutrition food categories. Its businesses include Post Consumer Brands, Weetabix, Michael Foods, Bob Evans Farms, and BellRing Brands.

IT Troubles with Tagetik

Founded in 2012, Post Holdings steadily grew its size and diversity largely through complex acquisitions. The company relied on Tagetik and Excel® to compile and aggregate financial and nonfinancial data across the portfolio. The Finance team depended on Tagetik for most of the IT support, which introduced additional time into the monthly close.

The challenges with the current system led Post Holdings to seek a new corporate performance management (CPM) solution. One that could support the company as it grows, with the flexibility for Finance to make changes to the system themselves.

Unleashing Financial Freedom Through Data Quality

Post Holdings selected to OneStream’s Intelligent Finance Platform to support its financial close management, financial reporting, and account reconciliations in a single unified platform. Post Holdings enjoys OneStream’s flexible reporting features including extensible hierarchies and ad hoc reporting, and automation capabilities.

OneStream’s Intelligent Finance Platform

Implementation kicked off with a focus on deploying OneStream for financial consolidation, reporting, and account reconciliations. OneStream partner Holland Parker implemented account reconciliations within two of Post Holdings’ six divisions. Two additional divisions were implemented in-house and the two remaining will be completed by the end of 2021. One of Post Holdings’ divisions was preparing to work with BlackLine for account reconciliations, but switched to OneStream. Why? Because the division could be incorporated at no additional cost.

During the process, Post Holdings acquired Bob Evans®. OneStream was able to efficiently incorporate the acquisition without disrupting the implementation process.

Success Through Streamlined Processes

With reduced close times, Post Holdings can focus on value-add activities such as analysis and planning during the close process. With over 160 users, OneStream’s flexible platform provides multiple reporting options to choose from based on the user’s preference. Additionally, Post Holdings has streamlined its process for onboarding acquisitions and created an easier process to map various data sources. As Post Holdings continues to grow, the organization can easily map systems to OneStream’s platform – simplifying account reconciliation.

OneStream’s Intelligent Finance Platform

Once Post Holdings completes the implementation of account reconciliations across the six divisions, the company plans to implement Transaction Matching and Task Manager solutions from the OneStream MarketPlace.

Learn more

To learn more about Post Holdings’ financial close and reporting, watch the replay of its Customer Success Webinar here and read more about its OneStream journey in its case study here. If your organization is ready for a finance transformation, contact OneStream today.

With our mission of delivering 100% customer success, it’s always rewarding to hear about the benefits OneStream customers are gaining from their investment in our unified, Intelligent Finance Platform.  And it’s even more rewarding when customers gain industry recognition for their deployments of our platform.  Such is the case with OneStream customer Teledyne Technologies who were recently recognized by Ventana Research as the winner of their Digital Leadership Award for the Office of Finance category. Read on to learn more.

Showcasing Digital Leadership

The Ventana Research Digital Leadership Awards recognize organizations and individuals that utilize technology to advance business and IT. The Digital Leadership Awards showcase the leadership and use of business applications or technology that contribute significantly to improved efficiency, productivity and the performance of their organization.



Teledyne had been relying on Infor PM for financial consolidation and reporting and Blackline for account reconciliations. The period-end close process was highly manual, long, and they suffered from data quality issues. So the initial scope of the project was to replace Infor and Blackline with the goal of streamlining the financial close, consolidation and reporting process.

After evaluating several options, they selected OneStream based on its ease of use, functionality, and value since the unified platform could support their financial consolidation, planning, reporting and account reconciliations requirements. After completing their initial implementation, Teledyne extended their implementation to encompass reporting and analysis of operational data, leveraging the Analytic Blend capabilities of OneStream.

Streamlining Financial Close, Reporting and Planning

Teledyne achieved a number of benefits by implementing OneStream for financial consolidation, reporting, planning and account reconciliations.  For example, OneStream has helped reduce the close process by 4 days monthly, from 8-9 days to 4-5 days. By moving account reconciliations into OneStream, the company is realizing annual cost savings of over $100K per year.

Teledyne now has an actual scenario, budget plan scenario and a forecast scenario for each month in OneStream. Actuals are completed by day 5, with an updated forecast by day 8. Teledyne is asking the businesses for a snapshot of their forecast each month, including income statement, balance sheet, and cash flow activity. The team has also built created a more summarized 3-year strategic plan in OneStream.

Teledyne Technologies

Teledyne chose to deploy OneStream Cloud. This approach eliminated the need for IT infrastructure and offloaded the IT team from having to worry about system maintenance and upgrades. “We have over 300 users in the cloud now, and plan to add more operational users as we collect more non-finance data into the system,” said Candice Cage, Corporate Applications Manager, Teledyne.

Leveraging the Power of Analytic Blend

After completing their initial implementation, Teledyne extended their implementation to encompass reporting and analysis of operational data, leveraging the Analytic Blend capabilities of OneStream. Ms. Cage said “The initial focus here was on Strategic Sourcing and Procurement across the enterprise. Having visibility into their spend across over 300 entities has enabled them to reduce the number of suppliers they are using, negotiate better terms with vendors, and save a substantial amount of spend.”

“We’re also using Analytic Blend for weekly transactional sales data to see sales trends across different channels. The simplification efforts are expected to drive 100 basis points of margin improvement each year. OneStream is a key enabler of this – providing accountability for teams to better respond and make changes to their business to see these margin improvements.”

Additional solutions implemented in OneStream include weekly cash flow, and several other operational analytic solutions including third party reps/distributor sales, 80/20 margin improvement, and transactional sales analysis.

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OneStream’s Analytic Blend capabilities are a true game-changer for Finance and operations teams looking to leverage large volumes of transactional data to support daily and weekly financial signaling and more informed decision-making.  In fact, in 2020 Ventana Research recognized OneStream with their Digital Innovation Award based on the capabilities of Analytic Blend.

The team at Teledyne has received a lot of positive feedback internally on their deployment of OneStream and is now getting industry recognition for their work.  Here’s what Mark Smith, CEO and chief research officer at Ventana Research had to say about the award: “Congratulations to Candice Cage at Teledyne and OneStream Software for receiving the 14th annual Ventana Research Digital Leadership Award in Office of Finance, and for the leadership and value in advancing the use of technology for impactful outcomes.”

Teledyne’s OneStream implementation is a great example of the power our unified platform provides to customers.  They are unleashing the value of Finance by streamlining processes, empowering the enterprise with financial and operational insights, and leveraging the power of Analytic Blend to manage and deliver transactional data to users across the enterprise and support right-time decision-making. It’s rewarding to see Teledyne getting recognized for their extensive use of the OneStream platform to solve a variety of business challenges and deliver high value to the organization.

To learn more, check out the Ventana Research press release here and download the market perspective below to learn more about Teledyne’s ability to optimize and streamline the consolidation and reporting process with OneStream.

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There’s been a debate brewing for years in the corporate performance management (CPM) software market about what’s the best way to deliver the functionality required to support the various CPM processes.  The debate centers around whether customers are better served by a unified platform for CPM or by best-of-breed applications designed to support specific processes such as financial consolidation, reporting, planning, and forecasting.  At the heart of this debate is also the question about what’s more important in CPM software – control or flexibility? What if you could have both in a single product?  Read on to learn more.

Taste Great vs. Less Filling

Remember the Miller Light beer commercials from the 70’s when the product was first introduced?  The premise behind them was that most beer-drinkers believed that a low-calorie beer sacrificed taste, then Miller came along and dispelled the myth with their product which “tasted great” and was also “less filling.”  There’s a similar debate “brewing” in the CPM software industry regarding best-of-breed applications vs. unified platforms.

brewing beer


The main focus of the CPM debate has been financial consolidation and reporting vs. planning, budgeting, and forecasting.  The financial consolidation and reporting process requires control and accuracy, while planning, budgeting, and forecasting require the flexibility to budget, plan, and forecast at different levels of detail than the actual financial results.  And furthermore, this level of detail can vary based on the planning process (strategic vs. financial vs. operational) and line of business.  The camp that favors the best of breed approach believes that the control required to deliver fast and accurate consolidated financial results hinders the planning and forecasting process, and vice versa. But is this really true?  The answer is that it depends on the architecture of the software.

Best of Breed Applications and Fragmentation

Several CPM vendors have chosen to deliver a fragmented set of best-of-breed applications (see figure 1) to support CPM processes such as financial close and consolidation, reporting, and various types of planning.  These vendors claim that each of these processes requires a dedicated application that’s optimized to provide either the control or flexibility required by the application.  The problem with this approach is that every organization has the need to compare their actual, book of record financial or operating results against their budgets or forecasts in order to identify and analyze variances.


CPM software
Figure 1 – Fragmented CPM Applications

With a fragmented suite of applications, this requires users to move data from the consolidation application to the planning application, or vice versa, or to yet another application where the data can be aligned for reporting and analysis.  And in addition to spending a lot of time moving data around, the users must maintain and update metadata in multiple applications as new accounts, departments, locations, or products are added to the business.

For example, what happens when your business changes via re-orgs, acquisitions, or divestures? The answer is you need an army of consultants or admins to realign systems, metadata, data, and reports to ensure all users are seeing the same definition of net income for example. Having multiple systems means that there is a data reconciliation effort just to try to ensure common definitions. This tax on your systems and resources means they can’t attack other business problems.

Some of the cloud-based vendors in the market offer point solutions that support only specific CPM processes, such as enterprise planning or account reconciliations. The cloud-based planning software vendors claim their software is optimized for this process and that consolidation and reporting should be handled in a separate application.  Again, the problem here is that customers need to be able to compare actual book of record financial and operational results against the budgets or forecasts to identify and analyze variances.  So the users end up having to extract the actuals, budgets, and forecasts out of their respective applications and into Excel spreadsheets or some other system for comparative reporting.

Another problem is that some cloud-based planning software vendors provide planning platforms that include no pre-built financial intelligence – it must all be built from scratch.  While this approach might work for supporting only operational planning processes, it doesn’t work for linking operational plans to financial plans and forecasts.  This linkage of financial and operational plans is a key market requirement and the essence of what’s now being referred to as eXtended Planning & Analysis (XP&A).

OneStream Provides Control and Flexibility in a Single Application

Now that we have identified the complexities that are created for users by fragmented CPM suites or best-of-breed planning solutions the question is – can a single CPM application provide both control and flexibility? Is it possible to have a single application that provides the control and accuracy needed to support the complex financial consolidation needs of global enterprises, as well as the flexibility to support financial and operational planning, budgeting, and forecasting? The answer is yes – and that’s the essence of OneStream.

OneStream provides a unified, Intelligent Finance Platform (see figure 2) with a modern architecture designed to provide accuracy and control as well as flexibility in a single application.  One of the secret sauces behind this is something called Extensible Dimensionality®.  This is essentially the ability of the system to support corporate standards, such as the corporate chart of accounts (COA), while providing relevance for operating units.  This means the corporate COA can be extended to support the more detailed reporting and planning requirements of various business units without impacting the corporate standard.CPM software

Figure 2 – OneStream’s Intelligent Finance Platform

The other secret sauce is the multiple calculation engines within OneStream’s Intelligent Finance platform. This includes a world-class financial consolidation engine, as well as an aggregation engine designed to rapidly roll up budgets, plans, and forecasts that don’t require the same precision and audit trails as book of record financial results.  The beauty of this approach is that the data for all these processes reside in a single data store, providing a single version of the truth for actuals, plans, forecasts, and other corporate data.

In addition, a unified application means all processes are aligned with a single point of change, so solutions are always in alignment without manual reconciliation efforts. This single point of change gives OneStream customers the agility needed to conquer the complexity of business changes.

This unique capability is what allows OneStream to replace multiple legacy applications with a single, unified platform.  That platform provides the control to support fast and accurate financial close, consolidation, and reporting – while also providing the flexibility to support agile budgeting, planning, and forecasting across the enterprise.  And this unified approach makes it very easy for users to compare actual financial and operating results with budgets and forecasts – at whatever level of detail is required, without moving data between applications.  It provides a single version of the truth for actuals as well as strategic, financial, and operational plans, budgets, and forecasts.

Proof is in the Pudding

Does this approach really work?  You bet it does.  How do we know that?  Because roughly 90% of OneStream customers use the platform to support their financial consolidation, reporting, and planning processes, as well as other tasks such as account reconciliations, transaction matching, tax provisioning, profitability analysis, sustainability reporting, and other tasks. Here’s one example below.



SPX Corporation had been using their current EPM application suite for 18 years. SPX was using separate solutions for data loads, consolidations, planning and forecasting, and account reconciliations. They had also built their federal tax provision process into their consolidation solution and had built flash forecasts, bridge reporting, and state tax provisioning in their planning applications.

This multi-product approach to their critical financial applications created challenges for the Finance and IT teams. According to Keith Chapman, Director of IT for Corporate Applications, “Just keeping all the data and metadata in sync was challenging — given all of the changes in our organization structure with acquisitions and divestitures. The end-users were constantly moving and reconciling data. There was no single version of the truth, and reporting was siloed and fragmented. From an IT standpoint, it was a lot of work maintaining and upgrading the applications, and we also used managed services to keep the products running.”

Since moving to OneStream, the SPX team has experienced many benefits from having one unified platform for actuals, plans, forecasts, tax, and account recons. This makes life much easier for users in terms of loading data, reviewing, and drilling into the data staging area for the details.


According to Chapman, “OneStream has provided a huge benefit in keeping everything aligned with automated control procedures in place, so when business changes happen, we can keep up. Tax and FP&A are no longer separated; actuals can be seeded into budgets, and we are no longer waiting for overnight processes. The tax team can leverage the roll-forward data from consolidation right into the tax solution. Users enter the data once, and it is leveraged across multiple processes.”

Said Chapman, “We also leverage OneStream’s Extensible Dimensionality®. This allows us to do corporate cost forecasting in the same application, at lower level of detail than our normal forecast — very easily. It’s all about offering solutions to the business and delivering rapid value. Instead of being viewed as a corporate application, OneStream is a platform; it adds value and continues to add value by providing timely insights.”

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Having the control required to produce accurate and auditable book of record financial results as well as the flexibility to plan and forecast at the right level of detail is essential for success in CPM software.  And although some vendors are promoting the myth that both control and flexibility can only be provided through separate applications – OneStream has proven this myth is false, just like Miller beer, with a platform that “tastes great and is also less filling.”  We have successfully delivered a unified platform that supports financial consolidation, reporting, planning, and forecasting for more than 800 organizations globally.  To learn more, check out our Intelligent Finance white paper and contact OneStream if your organization is ready to take the leap to a modern, unified platform that can support all your CPM processes.

One of the highlights of the OneStream Splash user conference is the customer success panel that is always part of the keynote session.  And although it was a little more challenging this year being produced virtually, the panelists did a great job demonstrating how their organizations are “leading at speed” thanks to implementing OneStream’s Intelligent Finance Platform.  Read on to hear the highlights of the customer panel.

Leading at Speed in Action

This year’s OneStream Splash Virtual Customer Success Panel included the following:

During this interactive discussion, the panelists spoke about their business challenges prior to OneStream, how OneStream is helping them address a growing number of business challenges, and the benefits they have achieved to date.

splash recap blog customers panel

Each of the panelists’ companies implemented OneStream as a replacement for multiple legacy applications or Excel spreadsheets that were being used to support critical Finance processes.

Unifying Multiple Finance Applications at Bunge

As the world’s leader in oilseed processing and a leading producer and supplier of specialty plant-based oils and fats, Bunge partners with farmers to improve the productivity and environmental efficiency of agriculture. Headquartered in St. Louis, Missouri, Bunge operates with more than 23,000 dedicated employees across 40 countries.

Bunge had previously been running Oracle HFM and FDMEE for financial consolidation and reporting, TM1 and other solutions for planning, Trintech for account reconciliations, and using Excel for other critical Finance processes.  This approach caused the Finance team to spend most of their time collecting, moving, and reconciling data between systems and not enough time on analysis.


After evaluating several alternatives, the Bunge team selected OneStream based on its ability to unify multiple applications, the ability for the Finance team to manage the application, easy adoption and transition from their existing systems, and the cost savings they expected to derive by eliminating multiple legacy applications.

Said Regina Gashi, “Working with OneStream lit my fire and also got our Finance team energized.  We all realized it was time for a change after many years of struggling with our legacy applications.  It was an opportunity to wipe the slate clean and start fresh with a new system that could improve our processes and lives.”

By moving to OneStream Bunge was able to eliminate a 1000-line Excel spreadsheet and replace it with confirmation rules configured in the OneStream application.  According to Ms. Gashi, “The company has shaved 2 days off the monthly close process by converting detective controls, taking place after data submissions, into preventative controls prior to data submissions and has everyone excited about their jobs and has better work/life balance.

Bunge started with 700 users and has now expanded their deployment to over 2000 users. They are live on OneStream for People Planning, Financial Consolidations, Rolling Forecast, Commercial P&Ls, and Operating Expense Reporting.  In short order, they will roll out Zero Based Budgeting (ZBB) in OneStream, Capital Expense Planning, Account Reconciliations, and Task Manager for managing the close process.  In the future, they are considering implementing Application Control Manager and exploring the idea of using OneStream to support Lease Accounting and Tax Provision.

Replacing Multiple Oracle HFM Apps at News Corp

News Corporation (News Corp) delivers authoritative and engaging content from some of the world’s most trusted brands – including The Wall Street Journal, MarketWatch, Barron’s, and Dow Jones Newswires.  The company had been running multiple Oracle HFM applications to support their quarterly, monthly, and weekly financial reporting requirements as well as additional instances for treasury, audit, and IT budgeting.  Striking a familiar theme, Jeff Liedl said “The Finance team at News Corp was spending a great deal of time managing all of these applications and reconciling data between them.”

Their goal was to eliminate the multiple applications and the time spent reconciling data between systems.  According to Jeff Liedl, “OneStream was the only vendor who said they could accomplish this goal, and they did! Now that OneStream has been rolled out, the Finance admins are spending much less time firefighting application changes and updating user access privileges, and more time analyzing financial results.  Life is much easier for us with OneStream.”

Splash Recap blog newscorp

Future plans for News Corp include implementing Account Reconciliations and Applications Control Manager from the OneStream MarketPlace and potentially replacing TM1 which is used for budgeting.

Reducing Reliance on Excel at Darden Restaurants

Darden’s family of restaurants features some of the most recognizable and successful brands in full-service dining — including Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, and Eddie V’s. They own and operate more than 1,800 restaurants and employ nearly 160,000 team members, making them one of the 50 largest private employers in America.

The company had been managing their planning process across nine divisions via an Excel-based process, which was growing increasingly risky.  The master Excel sheet had ballooned to 192 tabs and it was clearly time to find a better platform by which to manage the business.  Darden’s Finance team wanted a platform that offered control as well as flexibility, was easy to manage, and wasn’t overly costly.  After evaluating several alternatives – they selected OneStream for planning and forecasting.

Customer panel-2

According to Kevin Kalicak, “When it comes to setting expectations with stakeholders, relying on Excel was a risky proposition.  OneStream provides peace of mind in creating and communicating forecasts.  It allows us to lead at speed – providing efficiency and flexibility, and more time for analysis of the business.”

While the global pandemic slowed down their roadmap a bit, Darden is planning to expand their OneStream deployment to include Account Reconciliations, Cash Flow and potentially replacing their Oracle HFM application for financial consolidation and reporting.

Streamlining Financial Reporting, Planning, and Operational Analytics at Teledyne

Teledyne Technologies is a leading provider of sophisticated instrumentation, digital imaging products and software, aerospace and defense electronics, and engineered systems. Teledyne’s operations are primarily located in the United States, Canada, the United Kingdom, and Western and Northern Europe.

splash recap blog- teledyne tech

Teledyne had been relying on Infor PM for financial consolidation and reporting and Blackline for account reconciliations.  The period-end close process was highly manual, long, and they suffered from data quality issues.  According to Candice Cage, “After evaluating several options, they selected OneStream based on its ease of use, functionality, and value since the unified platform could support their financial consolidation, planning, reporting and account reconciliations requirements.”

After completing their initial implementation, Teledyne extended their implementation to encompass reporting and analysis of operational data, leveraging the Analytic Blend capabilities of OneStream.  Ms. Cage said “The initial focus here was on Strategic Sourcing and Procurement across the enterprise.  Having visibility into their spend across over 300 entities has enabled them to reduce the number of suppliers they are using, negotiate better terms with vendors, and save a substantial amount of spending.”

In addition to the operational cost savings, according to Ms. Cage “Teledyne has reduced our close process from 9 days to 4-5 days per month.  Additional solutions implemented include weekly cash flow, and several other operational analytic solutions including third party reps/distributor sales, 80/20 margin improvement, and transactional sales analysis.”

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Hopefully, this article gives you a sense of the challenges these customers each faced with their prior systems, the reasons they selected OneStream, and the benefits their organizations have achieved to date.  If you would like to learn more about the benefits other organizations have gained from implementing OneStream to replace spreadsheets, multiple legacy applications, and cloud point solution, check out the Customer Success stories on our website.

We’ve shared a number of customer case studies on our website about companies who were rapidly expanding, outgrowing Excel, and turned to OneStream as a more scalable and controlled environment for financial close, consolidation, planning, and reporting.  Well – now you can count OneStream as one of those case studies!  Read on to learn how OneStream made the leap from Excel to our own unified platform – “drinking our own champagne” and seeing many benefits as a result.

Supporting OneStream’s Big Aspirations

As a rapidly growing company with big aspirations, OneStream had been using QuickBooks for accounting and in 2019 upgraded to Intacct as a more robust and scalable ERP platform.  For financial reporting, planning, and budgeting the company was using Excel in combination with some OneStream applications. This approach was highly manual and required too much time and resources to support. In addition, Excel did not have the controls and audit trails to meet the requirements of a public company.

“A big challenge for us was having multiple data sources with different versions of the same numbers,” said Pam McIntyre, Corporate Controller, OneStream. “Our biggest worry was telling an investor something that ends up being incorrect because the right controls weren’t in place. So we needed to raise our game.”

OS Tom cutting ribbon

With easy access to our own software, OneStream’s Finance team was already using the platform for financial reporting, budgeting, and forecasting.  But with the KKR investment and a new CFO on board, the company wanted to take a more holistic approach by connecting financial close, consolidation, reporting, FP&A, and operational analysis in the platform. “With Bill Koefoed being hired as CFO, and our quarterly board meeting schedule, we had an increased need to track and manage OKRs on a regular basis,” said McIntyre. “And we knew the reconciliation capabilities, controls, and analytics required were possible with the OneStream platform.”

The implementation kicked off in June 2020 and was performed by OneStream’s Consulting Services team. The company went live in November 2020 for financial consolidation, budgeting, and one operational performance application with the cloud-based platform powered by Microsoft Azure. OneStream is integrated with Intacct,, and UKG HR for People Planning. By mid-2021, OneStream had 117 active users and growing across Finance, sales, and business leaders.

Drinking Our Own Champagne

Following the initial implementation, the OneStream platform is now being used for financial close, consolidation, financial reporting, management reporting, budgeting, planning, forecasting, and analysis.  The platform is also being extended for use in sales forecasting, and operational metrics tracking – including analyzing data about our cloud operations, contracts, customer retention, and support metrics. OneStream is also using the Guided Reporting and People Planning solutions from the OneStream MarketPlace.

“OneStream is enabling us to improve how we handle people planning and project planning,” said McIntyre. “We’ve built PO limits into the system so we can know when data needs to be cut off when costs go over budget. For the close process, we leverage Guided Reporting to streamline the reporting structure with a consistent reporting view across the organization. We are also using OneStream on the operational side, which includes managing the sales forecast and some of our other operational processes for IT.”

Pam McIntyre

Streamlining Processes and Improving Insights

With rapid growth, the company would have required at least two more staff in Finance to support the business needs if they did not upgrade these processes to OneStream. By leveraging our own platform, OneStream has gained better visibility into the business with more agile decision-making. The Finance team has reduced the monthly close from 24 days down to 8 days, with a goal to reach 6 days. Now McIntyre and her team can review results with the CFO on day 4, with full financial statements complete by day 6.

OneStream has removed multiple reporting mechanisms including manual headcount and days billing which has eliminated at least a half dozen manually maintained worksheets. “When we were manually managing spreadsheets, importing the data, and pulling it all together, the level of accuracy was much lower,” said McIntyre. “Now it is systematically maintained. GAAP to Non-GAAP reporting is automated in the system and we also have pre-built workbooks so we can easily see trends across departments, and different accounts.”

There’s More Champagne to Drink

As most of our customers know, OneStream is a gift that keeps on giving.  OneStream’s Finance team plans to continue expanding their use of the platform to address additional requirements. The roadmap includes deploying the Account Reconciliations and Task Manager solutions from the OneStream MarketPlace. “Getting Cash forecasting into the system is on our list,” said William Weidendorf, Director of FP&A at OneStream. “We would like to implement a 13-week cash flow and bridge to a long-range cash flow to simplify what is currently a complex process in Salesforce.”

The company is also looking to build more executive dashboards with real-time performance metrics. The company plans to leverage OneStream to operate all functions of the business and key reporting metrics to give one view into OKRs, customer metrics, cash flow, Marketing, and Sales pipeline.

OS XF Screenshot

“The OneStream platform has become the foundation for our business by providing financial transparency and reliability through one source of the truth,” said Bill Koefoed, Chief Financial Officer, OneStream. “That is the core of what a CFO, Controller, or FP&A leader wants – which is the ability to trust the data you are looking at. The platform has proven itself to our global customer base and now we are experiencing first-hand how OneStream provides Finance teams confidence in the numbers.”

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As a software vendor that focuses on selling to the CFO and Office of Finance, the obvious question we often get asked is – “does OneStream use the software internally?”  The answer is absolutely YES!  Having our internal Finance and Accounting teams using the platform proves that we practice what we preach, is a source of direct feedback to the Product and Engineering team, and provides a great deal of value to the organization.  To learn more, check out the OneStream “Drinking Our Own Champagne” success story and contact us if your organization has big aspirations and needs a more scalable, intelligent finance platform!

When put under strain, human bones have the ability to adapt to stress by rapidly deteriorating in size over time. The same could be said for organizations struggling with legacy performance management tools. Stress brought on by outdated finance applications can be felt not only by Finance teams but enterprise-wide through massive declines in process efficiency.

The leading provider of solutions for orthopedic implant procedures, Orchid Orthopedics needed to recover from the injury caused within their own Finance organization from years of using Infor and Excel®. These fragmented applications were impeding Orchid Orthopedics’ progress toward stronger financial consolidation and planning processes. Luckily, they knew that the earlier a modern finance platform was implemented, the sooner the healing process would begin, and the faster and more efficient their organization would be. Read on to learn about Orchid Orthopedics’ finance transformation journey and the successes they have seen by replacing Infor and Excel® with OneStream.

Delivering Leading Medical Device Services

Headquartered in Mason, MI, Orchid Orthopedic Solutions (Orchid) has been providing solutions for orthopedic implant procedures since 2005. Orchid is now a worldwide leader in orthopedic medical device solutions, delivering design and manufacturing services globally. Specializing in implants, single-use instruments, and innovative technologies within joint reconstruction, hips, knees, spine, trauma, extremities, and dental, Orchid holds the highest quality standards in the industry. Orchid employs approximately 2,000 employees and generating over $350M in annual revenue.

Orchid’s Pain Points

Orchid needed a platform that would provide greater visibility and optimization to support the company’s rapid development. Orchid was utilizing Infor CPM for financial consolidations and Microsoft Excel® for financial planning but was experiencing many limitations and challenges. To consolidate actuals and forecasts in Infor, the Finance team was spending nearly two hours rendering the system which, caused delays in their close and budgeting processes. The Excel® add-in feature of Infor required too much manual effort to perform ad hoc analysis and new report building was highly inefficient. On the FP&A side, the design of their system did not allow Orchid to utilize functionality for improved forecasting such as people planning, CAPEX planning, what-if scenarios, and more.



So, Orchid began their search for a new CPM solution, that was innovative and practical. Orchid was most impressed by the capabilities of OneStream’s Intelligent Finance platform and the company’s well-rounded Gartner Magic Quadrant leadership placement in both financial consolidation and financial planning. OneStream’s customer references helped the Orchid team solidify their decision and they made switch from Infor to OneStream.

Finance Implants a Modern Solution

By converting to OneStream, Orchid is now equipped with a unified platform for financial consolidation, reporting, budgeting, and forecasting. Unlike Infor’s version, OneStream’s Excel® add-in function allows Orchid to easily execute ad-hoc analysis on actual data on a recurrent basis, while Guided Workflows provide enhanced visibility into the closing process.

With OneStream, Orchid is benefitting from faster consolidation times, a streamlined close process, and quicker access to results. In fact, Orchid has shortened the monthly close process by 20%-. The Orchid team now has a better understanding of monthly performance and has reduced the time it takes to compile month-end results for the management team and board by 2-3 days.

Orchid has even extended its OneStream platform to include Account Reconciliations, Task Manager, and People Planning solutions from the OneStream MarketPlace™. The Task Manager feature has provided better visibility into the status of the month-end closing process by updating owners of the process. In addition, People Planning automates the forecasting of labor costs, allowing Orchid to better manage their largest expense.

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To learn more about Orchid Orthopedics’ 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!


The value of scalability within the Finance organization cannot be understated. Financial consolidation and planning applications should not only meet current requirements, but also anticipate the future needs of an expanding enterprise. Scalable platforms that efficiently align financial and operational data enable key stakeholders to focus on driving that growth. That’s why, it is critical for Finance teams to have the proper tools in place to help advance the business, not limit it.

With Anaplan as their planning and reporting solution, Diligent Corporation battled with data restrictions, hitting their workspace server limit with every new acquisition. They constantly reprioritized functionality by chipping away at their Anaplan models. These challenges ultimately drove Diligent to seek a true unified CPM platform, focused on providing strong reporting and analysis capabilities. Read on to learn more about their story.

The Modern Governance Company
Diligent is the leading governance, risk and compliance (GRC) SaaS provider, empowering leaders to drive accountability and transparency. Relied on by more than 25,000 organizations and nearly 1M+ leaders, Diligent’s applications support efficient collaboration and secure information sharing. Headquartered in Washington, DC, Diligent Corporation employs over 1,500 people across 70 legal entities and generates $550M in revenue. More information is available at


Limited Scalability with Anaplan
Diligent has become the world’s largest GRC SaaS company due to organic growth and frequent acquisition activity. Yet the organization experienced challenges with Anaplan’s finance application as they worked through 20 new acquisitions over a five-year span. The platform lacked scalability and sufficient workspace, leading Diligent to make sacrifices within their models to allow for the minimum level of business unit reporting required. System generated management reports were burdened by FX related variances and Diligent’s Finance organization lacked confidence in the numbers produced. This caused certain processes to be pushed back into Excel®, decreasing forecast accuracy.

Given these challenges, Diligent began their journey of replacing Anaplan with a unified platform that would get all of their information into the same system. They discovered that OneStream offered a single source for reporting planning, and ensured information supporting forecasts was accurate and consistent. Simply put: OneStream offered the flexibility and added structure that Anaplan did not have. Diligent decided to implement OneStream in the cloud for financial consolidation and reporting, budgeting, planning, and forecasting.

Putting the Right Controls in Place
With multiple acquisitions being integrated at the same time, Diligent is constantly adding new entities and FX rates. But the availability and accuracy of information in OneStream has empowered Diligent to automate financial processes and streamline complicated intercompany eliminations. Since implementing OneStream, Diligent has reduced the monthly close cycle from 45 to 15 days. And now with statutory reporting in OneStream, fundamental calculations are automated, and the Finance team has clear visibility into the underlying data. OneStream has expedited the monthly close process and enabled more investments back into the business, given the increased accuracy of forecasts.

Significant Budget Cycle Improvements
In Anaplan, Diligent could only maintain three scenarios at a time. And now with OneStream, the confidence and level of detail supporting the forecast is noncomparable. The structure and standardization that OneStream provides enables Diligent to plan sales/revenue forecast at product and business unit levels by country and local currency. All forecasts leverage the same methodology, and drivers and assumptions are easily updated as information becomes available. Time spent on forecasting was cut in half, with monthly rolling forecasting, quarterly forecasting, and budget always being maintained at the same time.

Diligent has also replaced their manual headcount forecasting process in Excel® by leveraging People Planning from the OneStream MarketPlace™. A driver-based model provides the ability to customize calculations and assumptions based on the dimensionality defined. Diligent is performing more granular zero-based budgeting at the department, business, unit, country, vendor, and project level. The Finance organization is gaining better insight into the business and providing more value to stakeholders.

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To learn more about Diligent’s success with OneStream, check out their case study article and contact OneStream to learn more about the benefits of replacing spreadsheets, legacy applications, and cloud-based point solutions such as Anaplan with an Intelligent Finance platform.