Team Industrial Services Implements OneStream for Financial Consolidation and Reporting
Company Size
1,000+
Region
- America
Country
- United States
Product
- OneStream
- MS Dynamics AX ERP
- OneStream MarketPlace
Tech Stack
- Cloud Deployment
- Financial Consolidation & Reporting
- Budgeting, Planning & Forecasting
- Account Reconciliations
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Cost Savings
- Digital Expertise
- Productivity Improvements
Technology Category
- Analytics & Modeling - Predictive Analytics
- 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
- Software Design & Engineering Services
- System Integration
About The Customer
Headquartered near Houston, Texas, Team Inc. (NYSE: TISI) is a leading provider of specialty industrial services, including inspection, mechanical services and engineering assessment, required in maintaining and installing high-temperature and high-pressure piping systems and vessels that are utilized extensively in the refining, petrochemical, power, pipeline and other heavy industries. Team offers these services across its 220 branch locations and more than 20 countries throughout the world.
The Challenge
Founded in 1973, Team Industrial Services has grown to more than $1B in revenue and more than 7,000 employees through numerous acquisitions. However, a new acquisition the company was undertaking in 2016 was too big to integrate using the newly implemented MS Dynamics AX ERP and Excel® spreadsheets. The company needed a more powerful and scalable financial consolidation and reporting solution.
The Solution
After evaluating several alternatives, Team selected OneStream in March 2016, with the goal of going live with the new system by year-end, and choosing to deploy the solution via the Cloud. With the help of several partners and OneStream technical staff, Team went live in November 2016 with OneStream for financial consolidation and reporting. The next phase of the implementation, focusing on budgeting and forecasting, started in January 2017 and went live in May 2017. A cash flow reporting project started in February 2017 and went live in March 2017. Team Industrial Services later added the People Planning and Account Reconciliations solutions from the OneStream MarketPlace.
Operational Impact
Quantitative Benefit
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