Team Industrial Services OneStream XF Success Story

Founded in 1973, Team Industrial Services has grown to more than $1B in revenue and more than 7,000 employees through numerous acquisitions. However, a new acquisition the company was undertaking in 2016 was too big to integrate using the newly implemented MS Dynamics AX ERP and Excel® spreadsheets. The company needed a more powerful and scalable financial consolidation and reporting solution.

Renewi OneStream XF Success Story

Renewi was in search of a modern, future-proofed CPM solution to support the ambitions of the entire organization. “We wanted a powerful tool that would bring together group reporting for all our business units in one system. We needed to optimize reporting processes to create better insights and save time.”

Lindsay Corporation OneStream XF Success Story

As a global company with multiple business units, reliance on Excel spreadsheets and their Microsoft Dynamics Navision general ledger (GL) for financial consolidation, reporting, budgeting and forecasting was no longer sufficient. These critical financial processes relied on manual efforts and took too long. Finance executives didn’t have visibility into the right level of operational detail, or impacts of currency rates on their financial results.

Getting through the monthly financial close, forecast updates and preparation for monthly business reviews using their existing tools and processes required a full two weeks—delaying delivery of management information and review of business performance. And business unit (BU) Controllers were spending too much time on data manipulation and not enough on analysis and supporting decision-making. It was time for a change.

Flow Traders OneStream XF Success Story

The move to a corporate performance management (CPM) software solution is part of a bigger movement within Finance to increase professionalism. “We are automating the administrative and financial processes, and the consolidation process is part of this. This is in line with our objective to realize further growth,” said Dankers.

After a careful selection process, Flow Traders chose OneStream out of five solutions from a shortlist. Dankers assesses the chosen CPM solution positively: “During the selection process, you want to move from the present to the ideal world, but it remains to be seen if all targets will actually be met. In our opinion, this has been very effective.”

Dril-Quip, Inc. OneStream XF Success Story

Dril-Quip previously used Microsoft Excel® spreadsheets as a consolidation and reporting tool for their month end close process.
Inconsistencies in data collection via Excel spreadsheets created a lengthy and inefficient close process for Dril-Quip. Further, the visibility senior management had within geographic segments limited the ability to make strategic decisions.

Budgeting and forecasting were prepared in Excel® using a top-down approach. The regional controllers were responsible for taking the Excel spreadsheets from each entity and department within their responsibility and aggregating the data into income statement format using Excel formulas. Drivers and versioning were disjointed and not easily identified.

The company wanted a unified and streamlined solution for all their financial consolidations, internal and external reporting, forecasting, and analysis – that is easily maintained, with the ability to push down accountability to global regions and that delivers accurate reporting.

The company also had a need to strengthen its internal controls over financial reporting.

OneStream XF Relational Blending 101

OneStream XF is a unified SmartCPMTM platform solution, it is not a siloed set of solutions that are fused together. OneStream XF solutions can be expanded upon, extended, and in a very real sense - blended together to meet the needs of a data consumer.