Melrose requirements revolved around complete replacement of Hyperion Enterprise, HFM and FDM for management, statutory reporting – weekly, monthly treasury cash flow forecasting. Key requirements included an agile solution that offered true flexibility when acquiring and divesting businesses quickly while retaining historical data.
The business problem
Melrose needed a unified CPM solution that not only reduced the burden of maintaining multiple products and integrations with the agility needed to adapt to the but also allowed for complete visibility into data, meta data and process changes. Previous reporting solution did not provide complete visibility into a reliable weekly cash flow forecasting and reporting.
The OneStream XF solution
Melrose implemented OneStream XF for management, statutory reporting and weekly treasury cash flow forecasting. By implementing OneStream XF Melrose was able to utilize a single platform that complied with their statutory reporting requirements, improve analysis, audit controls, and provide and overall visibility into changes. Additionally, by pushing process to the businesses OneStream XF made the close process faster and easier.
Financial consolidation and reporting results
Owned by the office of Finance, OneStream delivers powerful management and ad hoc reporting for management and business users. OneStream XF meets and exceeds all advanced financial consolidation and reporting requirements in a single and agile solution that is easy to use, own and maintain. “OneStream’s Unified Financial Intelligence and Extensible Model allows Melrose to deliver maximum value to corporate reporting along with operational value to each diverse business unit. OneStream’s Guided Workflows and powerful consolidation and reporting engine offer a turn-key solution to business users and a lower TCO for group reporting.” Jason Care, Group Systems Manager, Melrose PLC
Weekly cash forecasting
Melrose requires a weekly cash forecasting collection to understand the impact on cash flow to the business week by week. OneStream XF offered a streamlined Guided Workflow process familiar to the business users to collect these cash changes in order to understand the impact to group reporting.
All solutions live in a single rational system to own and maintain
There is no substitute for the value of having one system 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 or modules in a suite approach.
- Statutory financial consolidation and reporting
- Management reporting with consistency
- Weekly cash forecasting
- Ability to quickly acquire and divest large organizations and report pre and post acquisition or divesture
Process Support Functionalities
- Guided Workflow
- Guided reporting for business users
- Intelligent consolidations
- Unified Intercompany eliminations
- Superior audit controls
- Statutory reporting consistency with the first centralized and unified reporting solution
- Reduction in metadata maintenance
- Upgrades in hours, not weeks or months
- Eliminated end-user complexity
- Argonaut Consulting
Enterprise Performance Management
- Financial Consolidation & Reporting
- Budgeting & Forecasting
- Financial Data Quality Management
- Replaced, Enterprise, Hyperion HFM and FDM with a single integrated solution
- Lower total cost of ownership
- Eliminated integrations and validations between multiple Hyperion products and applications
- Improved quality and consistency of weekly cash collection and forecasting process
- Improved agility as OneStream XF allowed Melrose to have a single reporting system for all of group reporting with flexibility to acquire and divest large businesses quickly and easily.
- Faster close, shortened close cycle by 2 days.
- Faster financial consolidation processing time than HFM
- Statutory financial consolidation & reporting
- Financial data collection
- Management reporting & analysis
- Weekly cash forecasting collection and analysis