Lonrho Implements OneStream for Unified Financial Management
Company Size
1,000+
Region
- Africa
Country
- United Kingdom
Product
- OneStream Software
- OneStream MarketPlace
- Oracle Hyperion Enterprise
- Hyperion Planning
Tech Stack
- Excel
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Customer Satisfaction
- Digital Expertise
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- Application Infrastructure & Middleware - Data Exchange & Integration
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Functions
- Business Operation
Services
- Software Design & Engineering Services
- System Integration
- Training
About The Customer
Lonrho Plc is an investment group operational in 12 countries with a history of investing in Sub-Saharan Africa for over 100 years. Lonrho is an expanding conglomerate listed on the London AIM stock exchange (LONR). Lonrho is strategically focused on the development of business opportunities in infrastructure, transportation, support services, and natural resources. The Company has over 20,000 shareholders and substantial institutional backing to support its mandate to build a profitable business that plays a fundamental role in the development of the African economy.
The Challenge
Lonrho lacked a reliable and consistent corporate performance management (CPM) solution that was easy to use and maintain. The private equity firm was using Oracle Hyperion Enterprise and Hyperion Planning systems, which were no longer being supported and were too costly to manage. For Lonrho, Hyperion Enterprise was an unstable system that needed immediate replacing. Financial consolidation processes were very time-consuming and inefficient, and they also lacked true data integration. The legacy systems could no longer meet Lonrho’s basic operational needs, leaving the finance team no choice but to search for a more cost-effective and powerful CPM solution. Lonrho needed one unified platform for financial reporting, consolidation, forecasting, and analysis that could effectively run with their larger corporate initiative and dramatically bring down their total cost of ownership.
The Solution
After deciding not to upgrade their current Hyperion systems, the African-focused investment group evaluated several competing solutions on the market, before choosing to move forward with OneStream Software. Lonrho chose the unified OneStream platform for its unique Extensible Dimensionality®, interactive dashboards, auditability, and ease of use. The OneStream platform’s Guided Workflows also highly influenced their decision by providing more accurate data collection processes. Lonrho implemented OneStream for financial consolidation and were able to automate currency conversion, on-the-fly intercompany matching, and have full accountability and transparency to their reports. Moving ownership of data and review to the submission locations using Guided Workflows intuitively directs end users through the data collection, integration, and reporting process. Built-in audit controls ensure accuracy and allow Lonrho to report with confidence. Continuing to leverage the work done in the consolidation phase, Lonrho has also implemented OneStream to streamline their budget process. OneStream automates various calculations to drive balance sheet accounts and cash flow projections. The automation of forecast seeding with actuals and prior forecasts is driving efficiencies in what previously was a very manual process. Collecting actual, budget, and forecast in one application has simplified variance reporting and improved analysis capabilities for Manuel and his team.
Operational Impact
Quantitative Benefit
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