West Bend Mutual Insurance OneStream XF Success Story

West Bend Mutual Insurance (WBMI) previously used Microsoft Excel spreadsheets as a data collection and reporting tool for their monthend close process. Allocations were performed in a different software tool that had size processing constraints. Inconsistencies in data collection via Excel spreadsheets created a labor-intensive and error-prone close process. Further, the transparency by operations to financial detail was limited. A key motivation for system implementation was the lack of transparency and performance consistency of their multi-tier allocation process of expenses to profit center, product and state reporting