Case Studies > Evoqua Water Technologies Implements OneStream for Financial Consolidation and Reporting

Evoqua Water Technologies Implements OneStream for Financial Consolidation and Reporting

Company Size
1,000+
Region
  • America
  • Asia
  • Europe
  • Middle East
Country
  • United States
Product
  • OneStream
  • OneStream SAP Connector
Tech Stack
  • SAP
  • Excel
Implementation Scale
  • Enterprise-wide Deployment
Impact Metrics
  • Customer Satisfaction
  • Digital Expertise
  • Productivity Improvements
Technology Category
  • Analytics & Modeling - Predictive Analytics
  • Application Infrastructure & Middleware - Data Exchange & Integration
  • Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
  • Utilities
Applicable Functions
  • Business Operation
  • Quality Assurance
Services
  • Software Design & Engineering Services
  • System Integration
  • Training
About The Customer
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.
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 Solution
Evoqua implemented OneStream for financial consolidation, reporting, budgeting, and forecasting. They leveraged the consolidation functionality to automate intercompany eliminations in all hierarchies, currency translation, and cash flow reporting. The core budget and forecast capabilities were used to perform forecasts at detailed profit center and cost center levels. Management and external reporting were standardized with executive dashboards and Guided Reporting, as well as a monthly financial reporting book. The OneStream SAP Connector was used to automate SAP feeds, providing visibility to detailed transactions within SAP via the reporting tool.
Operational Impact
  • OneStream delivers powerful management and ad hoc reporting for corporate HQ and business users.
  • Evoqua benefits from the value of one application that can share and extend dimensions to deliver multiple solutions without technical complexity.
  • 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.
  • OneStream’s ability to eliminate multiple Essbase cubes and their financial consolidation product has been critical to simplifying the finance systems environment.
Quantitative Benefit
  • System upgrades are done in under one hour.

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