Curtis Instruments Streamlines Financial Processes with OneStream
Company Size
1,000+
Region
- America
- Asia
- Europe
Country
- United States
Product
- OneStream
- Syteline ERP
- Excel® Quick View
Tech Stack
- OneStream
- Syteline ERP
- Excel® Quick View
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Functional Applications - Enterprise Resource Planning Systems (ERP)
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Functions
- Business Operation
Services
- Software Design & Engineering Services
- System Integration
- Training
About The Customer
Curtis Instruments, founded in 1960, is a privately-held technology leader in electric vehicle instrumentation and motor controls of all types, including forklifts, wheelchairs, neighborhood electric vehicles, golf carts, aerial lifts, and industrial and utility vehicles. Located in Mount Kisco, NY, Curtis Instruments currently operates 15 sales, engineering, and manufacturing locations across the globe serving markets in the Americas, Europe, and Asia.
The Challenge
Curtis Instruments had been using Hyperion Enterprise and Excel® spreadsheets for financial consolidation, reporting, and budgeting. These tools had limitations that resulted in manual steps for processes such as intercompany eliminations, data quality and verification issues, many top-side adjustments, and too much exposure to errors and risk. The overall close and consolidation process took too long. After upgrading their Syteline ERP system in 2012, the Finance team at Curtis began looking for a replacement for Hyperion Enterprise, which was no longer providing adequate information for management.
The Solution
Curtis Instruments selected OneStream based on its software functionality, the knowledge and quality of the sales and services team, the team's commitment to customer success, and the ability for the Finance department to manage the system themselves and reduce reliance on their IT group. Initially, OneStream was implemented for financial consolidation and reporting, including the generation of balance sheets and income statements at corporate and subsidiary levels. Working with OneStream partner Finit, the Curtis team integrated OneStream with its Syteline ERP system, empowering business unit Finance teams to be more responsible for their own financial reporting. The new system allows Curtis to consolidate and report their results in multiple currencies with second-tier subsidiary currency overrides. The team improved the corporate consolidation and reporting process and reduced the number of reporting errors by replacing manual data load and elimination of intercompany transactions with an automated process.
Operational Impact
Quantitative Benefit
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