Evoqua Success Story | OneStream Software |

Evoqua Water Technologies Success Story and Video Testimonials

About Evoqua Water Technologies

Evoqua Water Technologies is a leader in water and wastewater treatment products, systems and services for industrial and municipal customers. Its comprehensive, cost-effective and reliable treatment systems and services reduce fresh water demand, ensure uninterrupted quantity and quality of water, and enable regulatory and environmental compliance. With a wide range of proven product brands and advanced water and wastewater treatment technologies, mobile and emergency water supply solutions and service contract options, Evoqua helps cities provide clean water and industrial plants to maintain productivity and profitability. Visit Evoqua at https://www.evoqua.com/en.

The challenge

Core requirements revolved around converting an Excel based model to a Financial Reporting system to manage continued growth. There was a significant need for automated and standardized management and external reporting.

The business problem

Evoqua was looking for a more intuitive financial reporting with consistent results in a more controlled and auditable environment. They required visibility to detailed transactions within data warehouse and SAP. Additionally, they also needed to automate reconciliation between both modules (GLCPA and COPA) of SAP.

The OneStream XF solution

“Evoqua implemented OneStream XF for financial consolidation, reporting, budgeting and forecasting,” says Rahul Nanavati, Director of Financial Systems at Evoqua. “We were able to leverage the consolidation functionality to automate intercompany eliminations in all hierarchies, currency translation and cash flow reporting. We also leveraged the core budget and forecast capabilities to perform forecasts at detailed profit center and cost center levels. Management and external reporting is now standardized with executive dashboards and Guided Reporting as well as our monthly financial reporting book.”

OneStream XF SAP Connector

“By automating SAP feeds using connectors with drill back capabilities users can now have visibility to detailed transactions within SAP via this reporting tool, something we simply could not accomplish in our previous environment,” says Nanavati.  “OneStream XF delivers more detailed reporting and analytics in one unified product and application.”

Financial consolidation and reporting results

Owned by Corporate Finance, OneStream delivers powerful management and ad hoc reporting for corporate HQ and business users. OneStream XF gave Evoqua the flexibility and auditability for managing financial reporting integration of acquisitions.

The benefits of a unified platform are endless

Evoqua benefits from the value of one application that can share and extend dimensions to deliver multiple solutions without the technical complexity of having to install, implement, maintain, learn and upgrade multiple products, applications or modules. OneStream’s ability to eliminate multiple Essbase cubes as well as their financial consolidation product has been critical to simplifying the finance systems environment as well as the finance administration requirements.  Evoqua has been able to realize the multiple benefits of owning a single product and application while eliminating the technical complexities of their previous solutions.

One consistent user experience

Having all solutions in a single product means end users have a consistent guided workflow process to follow no matter the process or analytic collection.  All solution have similar Guided Workflows allowing Evoqua to deploy new solutions without burdening end users.  End users intuitively know how to interact with all solutions to provide the highest level of data quality for every process.

About OneStream Software

One Product • One Application • Multiple Solutions

OneStream Software is a privately held software company created by the same team that invented the leading financial solutions of the last decade. We provide a unified Corporate Performance Management (CPM) platform which enables the enterprise to simplify financial consolidation, reporting, budgeting and forecasting for complex organizations. Powerful extensibility enables the enterprise to deliver additional analytic solutions without adding any technical complexity. By delivering multiple solutions in one application, we offer increased capabilities for financial reporting and analysis while reducing the risk, complexity and total cost of ownership for our customers. We are driven by our mission statement that every customer must be a reference and success.

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

Company

Evoqua Water Technologies

Industry

Water Treatment

Partner

Shell Financial Services (SFS)

Corporate Performance Management Solutions Delivered

  • Financial consolidation & reporting
  • Budgeting and forecasting
  • Financial data quality management
  • Financial reporting and analytics

Key Functional Requirements

Process Support Functionalities

  • Guided Workflows
  • Executive Dashboards
  • Currency conversion
  • Data Quality Validation

Administration

  • SAP Direct Integration and drill back
  • Audit trail for all changes to system including data, metadata and rules

Reporting Functionalities

  • Automate operational reporting
  • Ability to consolidate and report in local currency and reporting currency
  • Standard reporting
  • Intercompany eliminations

Usability

  • Excel integration
  • Web based platform

Other/Data

  • Automated reconciliation between GLCPA & COPA
  • End user security management
  • Controlled approvals
  • Drill back to Data Warehouse for transactional details
  • Integration to meet Headcount and AR Aging Reporting needs
  • All loads automated to refresh overnight for both GLPCA & COPA

Key OneStream XF Benefits

Data Integration

  • Workflows were key for end user data collection and drill back
  • Data validation enforces data quality before it is loaded into consolidation
  • Instant visibility
  • Complete audit controls and transparency

System Maintenance

  • System upgrades are done in under 1 hour

XF MarketPlace Solution Center

  • Executive Dashboards
  • Guided Reporting
  • SAP Connector