Melrose PLC Implements OneStream to Unify Financial Reporting and Improve Efficiency
Company Size
1,000+
Region
- Europe
Country
- United Kingdom
Product
- OneStream
- Oracle Hyperion Enterprise
- Hyperion Financial Management (HFM)
- Oracle Essbase
- Hyperion Strategic Finance (HSF)
Tech Stack
- Corporate Performance Management (CPM)
- Financial Consolidation and Reporting
- Budgeting and Forecasting
- Financial Data Quality
- Management Reporting and Analysis
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 Industries
- Finance & Insurance
- Professional Service
Applicable Functions
- Business Operation
- Quality Assurance
Services
- Software Design & Engineering Services
- System Integration
- Training
About The Customer
Melrose Industries PLC is a London-based company specializing in buying and improving underperforming businesses. They focus on acquiring good manufacturing businesses with strong fundamentals and improving their performance through significant investment and management changes. Melrose finances its acquisitions using low leverage, improves the businesses, sells them, and returns the proceeds to shareholders. The company is listed on the London Stock Exchange as a constituent of the FTSE 100 Index.
The Challenge
Melrose PLC was using multiple Oracle Hyperion products for management and statutory reporting, as well as financial forecasting and scenario analysis. The fragmented architecture caused the finance team to spend a significant amount of time moving and maintaining metadata between multiple systems. As the organization continued to acquire additional businesses, it became increasingly difficult to roll-up and integrate disjointed data. Melrose needed a unified CPM solution that reduced the burden of maintaining multiple applications and allowed for complete visibility into data and process changes.
The Solution
Melrose selected OneStream as their CPM solution due to its agility, flexibility, and ability to retain historical data. OneStream provided a unified platform that complied with statutory reporting requirements, improved analysis, included audit controls, and offered enterprise-wide visibility into changes. The implementation of OneStream replaced multiple Oracle Hyperion products, making the close process faster and easier with rapid user acceptance across the organization. OneStream's Guided Workflows and powerful consolidation and reporting engine provided a turnkey solution to business users and a lower TCO for group reporting.
Operational Impact
Quantitative Benefit
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