Focusing on Financial Close, Consolidation, and Reporting for LHM

Larry H. Miller

About Larry H. Miller

The Larry H. Miller Group of Companies began on May 1, 1979, when Larry and Gail Miller purchased their first dealership—Larry H. Miller Toyota in Murray, Utah. From that humble start, the Larry H. Miller Group of Companies has grown to employ more than 11,000 individuals at businesses located across 46 states. The areas of focus fall into five primary areas: automotive; sports and entertainment; finance and insurance; real estate; and philanthropy. Benefits Achieved

The implementation of OneStream™ at LHM progressed quickly. After kicking off the project in July 2018, LHM ran three parallel closes from November 2018 through January 2019, and went live with OneStream in February of 2019. The LHM team has realized many benefits from their OneStream deployment.

“In general, the team at LHM has found OneStream very easy to use, our consolidation process is faster, and the customer support is amazing,” said Ms. Allred. OneStream has enabled LHM to work faster and avoid bottlenecks. OneStream has provided LHM with a “clean” and user-friendly solution to complete their financial close, consolidation and reporting process with noticeable speed improvements in adding new accounts as well as ‘refreshing’ the system after entering data.

The Challenge

The Larry H. Miller Group (LHM) was using Oracle Hyperion Financial Management (HFM) as well as Financial Data Quality Management (FDM) to manage their financial close, consolidation and reporting process. After Oracle announced the end of full support for the version they were running on, LHM decided they needed to either upgrade their existing solutions or migrate to a new solution in the cloud.

Some of the drivers for considering a cloud solution included the impending end of life for HFM, the ability to offload database administration and other IT tasks to a third party, and the poor quality of Oracle support.

The OneStream Solution

After evaluating their options with Oracle, LHM started evaluating OneStream and became confident in the solution based on a number of positive reference calls and by attending OneStream’s Splash user conference. Though the organization only needed a financial close, consolidation and reporting solution, they chose OneStream based on 100 percent positive customer feedback, while knowing that they could easily scale the solution to address other requirements if the need ever arose.

Focusing on Financial Close, Consolidation, and Reporting

Having decided to deploy OneStream in the Cloud, the scope of the initial OneStream implementation for LHM was to replicate their HFM/FDM solution in OneStream. After evaluating several qualified implementation partners, LHM chose US Analytics to implement their OneStream solution based on the value US Analytics provided during the solution evaluation and selection process.

The implementation team included the corporate controller from LHM and 3 finance staff, along with 3 consultants from US Analytics. US-Analytics completed a “lift and shift” of LHM’s HFM application to OneStream. During the project, the US-Analytics team configured the LHM application with 94 entities, 33 alternative rollups, and 4 custom dimensions in OneStream. The team also built 10 new reports, recreating LHM’s analysis reports from HFM.

“US-Analytics was amazing at building our solution. They worked with our team to transfer the knowledge that was needed. If anything came up, they were on top of it. It was amazing,” said Shelly Allred, corporate controller at LHM. “Because US-Analytics was ahead of schedule and under budget, they stayed on for support, assisting with things like automating data loads and additional configuration.”

Future Plans

Though LHM is currently using their OneStream solution for financial close, consolidation and reporting, they like having the option to easily extend their investment to planning and budgeting if the need arises in the future. LHM also plans to move from file-based data integration to direct integration with their source systems.

“There are many areas I can see that are going to be faster for us,” said Ms. Allred. “I think OneStream was the right choice over continuing with our Hyperion solution.”

About OneStream Software

OneStream Software provides a market-leading intelligent finance platform that reduces the complexity of financial operations. OneStream unleashes the power of finance by unifying corporate performance management (CPM) processes such as planning, financial close & consolidation, reporting and analytics through a single, extensible solution. We empower the enterprise with financial and operational insights to support faster and more informed decision-making. All in a cloud platform designed to continually evolve and scale with your organization.

OneStream’s Intelligent Finance platform can easily be extended with over 50 solutions from the OneStream MarketPlace™. These downloadable solutions are fully battle-tested and optimized for the OneStream platform. They allow customers to easily extend the value of their investment to meet the changing needs of finance and operations.

For more information, please visit OneStream Software https://www.onestreamsoftware.com or on Twitter @OneStream_Soft.

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