About Terberg Group
For over 145 years, the Terberg Group of companies have been active in the specialist vehicle markets. With 28 operating companies in 9 countries, Terberg is one of the largest independent specialist vehicle suppliers, from terminal tractors to cars, conversions to new builds, Terberg leads the way. The Terberg Group have been moving forward with an emphasis on invention, innovation, transformation and value creation. Please visit www.terberggroup.com to learn more.
Create an integrated platform for financial consolidation and management reporting. Speed, flexibility and a higher accuracy were crucial elements during the implementation project.
The Business Problem
Terberg group was looking to deliver a integrated system to improve multiple finance processes such as consolidation, reporting, budgeting, data submission process and cash forecasting. It was imperative that it was owned by the office of Finance.
Terberg expects to have an even more professional financial department, in which they keep improving the reporting process. While the business grows, will move along with the information needs of the business and the board of directors. In the future, they want to maintain this high level of quality, speed and reliability of the reporting in OneStream.
The OneStream™ solution
Terberg Group implemented OneStream for financial consolidation and reporting, budget, data quality management (data collection), treasury cash forecasting and sales reporting.
“The Terberg Group was looking for an integrated platform for financial consolidation and management reporting,” says Ivo Jansen, Corporate Financial Controller at Terberg Group. “Our legacy system was cumbersome and consolidation required multiple manual entries which in turn created a lengthy and inefficient process. With OneStream, we were able to standardize and automate our consolidation process and reduce the time needed to generate corporate reports. Our controllers are now able to standardize and create manageable accounts, automate cash flow and leverage OneStream’s core budget and forecast capabilities. OneStream gave us the look and feel we were seeking in one unified product and application.”
Added Value of the Renewed Close Process
Speed, flexibility and a higher accuracy are main rivers for the finance organization within Terberg Group. They expect that the intercompany numbers can be settled faster and more efficiently. In addition, it is a simplification of the consolidation process. The current software package still has many manual consolidation steps, but with the new OneStream software Terberg Group will be able to consolidate automatically. This will surely save time. This enables to report the key figures to the board of directors faster and to give more attention to the analysis of the information.
All Solutions Live in One Product and One Application
Terberg Group first experiences have been great. The setup of the software is easy. They have already noticed that modifications can be applied quickly, for example moving entities or changing the presentation of the information. The finance organization also greatly benefits from the direct link with the ERP-system. Terberg Group can obtain the figures rapidly. It is already useful during the current implementation process to see whether the correct figures are uploaded. Ivo Jansen responsible for goup controlling already experienced the first update from 3.4 to 3.5, which happened swiftly. The update was completed within an hour.
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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