Hyperion Insurance Transforms Financial Operations with OneStream
Company Size
1,000+
Region
- America
- Asia
- Europe
Country
- United Kingdom
- Worldwide
Product
- OneStream
- Unit4 ERP
- Anaplan
Tech Stack
- Cloud Computing
- ETL
- ERP Integration
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Digital Expertise
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Functional Applications - Enterprise Resource Planning Systems (ERP)
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
- Quality Assurance
Services
- Cloud Planning, Design & Implementation Services
- Data Science Services
- System Integration
About The Customer
Hyperion Insurance Group is an international firm of insurance brokers and underwriters with over 4,500 employees worldwide. It is one of the world’s leading insurance intermediary groups, consisting of four distinct divisions. Hyperion has a pre-eminent international retail distribution network outside of North America, a leading independent specialty lines insurance and reinsurance broker, and the only global specialist MGA group. In 2019, Hyperion celebrated its most successful year with market-leading organic growth of 11% and over £725m in revenue. The company has grown from a small London broker in 1994 to a leading independent, international insurance group.
The Challenge
For five years, Hyperion Insurance Group had been using Anaplan for financial consolidation, group and divisional reporting, budgeting, and forecasting. However, they faced many difficulties with Anaplan, including reconciliation issues between models, lack of built-in reporting functionality, and basic audit logging. The group needed a next-generation corporate performance management (CPM) platform to replace Anaplan. Hyperion Insurance required a platform that was cloud-ready, modern, agile, and scalable to meet their business needs for the next five to ten years. They also needed a controlled close process and support for granular-level reporting, which Anaplan could not provide.
The Solution
Hyperion Insurance chose OneStream as their new CPM platform for financial consolidation, management reporting, account reconciliations, budgeting, and forecasting. The implementation was carried out in phases, starting with financial consolidation and management reporting, followed by planning, budgeting, and forecasting, and finally, account reconciliations. OneStream's unified platform provided the controls and compliance needed across the organization. Hyperion also leveraged OneStream MarketPlace solutions like Reporting Compliance and People Planning to enhance their operations. The integration with Unit4 ERP system streamlined submission processes and provided a centralized data model for better control and governance.
Operational Impact
Quantitative Benefit
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