Established in 2000 by founder and current CEO, Jitse Groen, Takeaway.com has become the leading online food delivery marketplace in Continental Europe, with #1 market positions, in terms of orders, in the Netherlands, Germany, Belgium, Austria and Poland. Today Takeaway.com has over 1,100 employees spread across five offices in Europe including more than 2,000 couriers on the road. In 2017, Takeaway.com processed more than €1.3 billion worth of orders for its restaurant partners. Visit Takeaway.com to learn more.
“OneStream™ is easy to connect with many source files, mapping is intuitive within the
process flow and supported with easy data calculations and conversions into a consolidation to provide quick reporting decks with the report generator.”
– Hermes Bron | Senior Manager Reporting and Consolidation
Takeaway.com was listed at the Euronext Amsterdam stock exchange on September 30, 2016 to raise money to further facilitate the growth of the Group. Before the IPO, the consolidation and reporting were mainly performed using Excel®. Data from the ERP systems was extracted, and financial reports were generated via pivot tables and formulas. This process worked fine when the company was still relatively small, as it comprised just a small number of legal entities and employees. However, this process was not future-proof in terms of scalability and reliability.
Takeaway.com started the search for a sustainable consolidation tool to enable the way forward – safeguarding the creation of financial management reports and offering the agility to support future growth.
The OneStream Solution
During the software selection phase, multiple consolidation solutions were evaluated from various vendors with the process eventually positioning Oracle’s HFM and the OneStream solution on the short list. OneStream was the selected solution based on the following: it is easy to receive, store and process data. Subsequently, the conversion into the desired reports using the OneStream report generator within Microsoft PowerPoint and Word is a big plus. OneStream did the best job in meeting all requirements for financial consolidation and reporting, forecasting & budgeting, data quality management, KPI analysis and cost center reporting.
Simplifying Financial Consolidation and Reporting
Takeaway.com has multiple entities in Europe that are included in the OneStream platform. The end-users were trained via a webcast and within a short time span the trial balance uploads were part of the monthly close. This additionally being guided by intuitive workflows of the easily adoptable application. Analytical comments and top side (IFRS) adjustments were also embedded to complete the required information needed for a financial close.
Instead of building complex Excel® models sent via e-mail to group accounting, the end-users only need to upload an export from their source GL-system. A direct integration lies in scope for the next phase. After the workflows are completed, standardized reports can be initiated directly from OneStream, which enables the generation of management reports and financial information analyses.
Takeaway.com leverages the extensible documents functionality in OneStream. During every close, a PowerPoint-deck containing graphs and tables is generated out of the system. Because this document is automatically merged with live data from OneStream, analysis and updates can be done very quickly and efficiently.
This gives the opportunity to spend quality time on the results and have a better understanding of the business instead of spending a lot of time on report creation and maintenance. Just before the year-end close, the implementation of OneStream was completed according to plan and the application went ‘live’. Having tested the application extensively through a User Acceptance Test and Parallel Run, the following external audit was the defining moment to really satisfy the project success. This was not only the first annual close for Takeaway.com in OneStream, but even more important also the first annual close as a listed company.
OneStream Delivers Key Benefits
As a result of the implementation, Takeaway.com has realized significant improvement in management reporting and financial statements which is recognised by many stakeholders, both internally and externally. Next to the improved financial process provided by OneStream, also non-financial information was easily added to the database. This is made possible via an upload file or direct connection. Hereby, KPI-performance is calculated and added to the same management reports from one source system. Through the built-in workflows the users are able to upload their monthly data in a controlled and auditable environment. Loading data via the workflows not only ensures the data is loaded with validations to ensure data quality, it is also significantly more efficient and user friendly than creating and maintaining the Excel® models used in the past.
The monthly close is now concluded faster and is of a much higher quality. One of the workflows monitors intercompany matching and provides a comprehensive analysis of the intercompany differences. To complete the monthly financial close, data is loaded and locked in OneStream. Users of the Group can extensively analyze these non-financials within the same reporting and analysis tools as the financial data, including blended KPI calculations.
About the Implementation Partner
AMCO is a global business partner providing end-to-end business services for EPM & ERP. We are a OneStream Diamond Partner, one of the few diamond partners globally, and the only diamond partner in APAC and the Middle East. AMCO operates in 11 locations worldwide, supported by 110+ employees. Our 15 years in business allows us to fulfill implementations and support services in over 40 countries. Our experience is backed up by 175+ projects for over 120 customers in different industries. For more information, please visit AMCO amco.one.com
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.
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