Lucy Group Transforms Financial Management with OneStream Software
Company Size
1,000+
Region
- America
- Asia
- Europe
- Middle East
Country
- United Kingdom
Product
- OneStream Software
- Oracle Hyperion Enterprise
- OneStream MarketPlace
Tech Stack
- 64-bit architecture
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Digital Expertise
- Productivity Improvements
Technology Category
- Platform as a Service (PaaS) - Application Development Platforms
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Functions
- Business Operation
Services
- Cloud Planning, Design & Implementation Services
- System Integration
- Training
About The Customer
Lucy Group is a privately-owned, international business group with origins dating back over 200 years. Initially focused on manufacturing metal castings, the company has evolved into a group comprising four distinct business units: Lucy Castings, Lucy Controls, Lucy Electric, and Lucy Real Estate. Employing over 1,400 people across offices and factories in 10 regions, Lucy Group trades in over 60 countries. The company has a rich history and a diverse portfolio, making it a significant player in the manufacturing industry.
The Challenge
Lucy Group had been using Oracle Hyperion Enterprise for financial consolidations, budgeting, planning, and reporting. The organization faced complications due to its operations across multiple overseas locations, relying on several point solutions across its four business units. The finance team was challenged with manually integrating data from multiple GL and ERP applications, including Dynamics AX and Sage. After 10 years of using Hyperion Enterprise, Lucy Group struggled with product limitations and a lack of visibility into the financial breakdown of business segments. They needed a more efficient solution to meet management demands for greater insights into financial data.
The Solution
To address their data integration issues, Lucy Group evaluated Corporate Performance Management (CPM) platforms and selected OneStream Software. OneStream offered a single solution platform that eliminated the risk and complexity of data integration, validation, and reconciliation between multiple products or applications. The platform's built-in workflow functionality increased visibility and accountability, allowing users to load data directly into OneStream for managerial review. Lucy Group initially deployed OneStream on-premise but is considering a future move to the cloud. OneStream's flexibility and agility, built on 64-bit architecture, make it suitable for cloud, hosted, or on-premise implementations. The platform also offers quick system upgrades, completed within hours.
Operational Impact
Quantitative Benefit
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