实例探究 > Federal-Mogul Transforms Financial Reporting with OneStream

Federal-Mogul Transforms Financial Reporting with OneStream

公司规模

1,000+

地区

America

国家

United States

产品

OneStream
Hyperion Enterprise

技术栈

OneStream
Hyperion Enterprise

实施规模

Enterprise-wide Deployment

影响指标

Customer Satisfaction
Digital Expertise
Productivity Improvements

技术

分析与建模 - 预测分析
平台即服务 (PaaS) - 连接平台
平台即服务 (PaaS) - 数据管理平台

适用行业

汽车

适用功能

人力资源

服务

软件设计与工程服务
系统集成

关于客户

Federal-Mogul Holdings Corporation is a leading global supplier of products and services to the world’s manufacturers and servicers of vehicles and equipment in the automotive, light, medium and heavy-duty commercial, marine, rail, aerospace, power generation and industrial markets. The company’s products and services enable improved fuel economy, reduced emissions and enhanced vehicle safety. In 2018, Federal-Mogul was acquired by Tenneco and became part of the DRiV division. The company has a significant presence in the automotive industry, providing essential components and services that enhance vehicle performance and safety. With a global footprint, Federal-Mogul serves a diverse range of markets, ensuring that their solutions meet the varied needs of their customers.

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挑战

Federal-Mogul was using Hyperion Enterprise for financial consolidation and reporting, but the legacy system needed immediate replacing. Hyperion did not provide an efficient data quality management solution and required substantial manual intervention for the collection of both financial and operational data. As a growing auto parts distributor, Federal-Mogul needed a scalable solution that could be deployed globally for financial consolidation and reporting, budgeting and analysis. They needed a system that delivered faster consolidations, easier maintenance and more powerful management reporting. Federal-Mogul wanted to give relevant management reporting to the OEM and aftermarket businesses, including operational HR data. Upgrading Hyperion would be a lengthy and expensive undertaking, so Federal-Mogul decided to look elsewhere, and was immediately interested in OneStream Software.

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解决方案

OneStream delivered Federal-Mogul a modern CPM solution that is completely owned by the office of Finance. Federal-Mogul expanded their financial reporting model from four dimensions in Hyperion to 17 dimensions in OneStream for more powerful ad-hoc reporting and analytics. With several reporting locations, Federal-Mogul now has complete visibility of the load processes. The Guided Workflows allow their team to quickly and easily load and consolidate their data, perform exchange adjusted categories, look at actuals at budget rates versus prior years, and effectively forecast within one platform. An automated email process using Guided Workflow allows journal entries to be sent immediately to supervisors for review and approval. After approval, another email is sent back to the user, allowing them to post the journal. This gives their team timely and accurate data to perform the full consolidation, while providing business units immediate visibility of their results. OneStream has also enabled Federal-Mogul to put a standard process in place for audit reports with improved controls. The ability to track changes made is very helpful for the year-end audits from a metadata standpoint. OneStream delivers detailed Variance Analysis reporting, consolidating information to include key variance explanations. The Finance team was often held up during the close process for last-minute HR adjustments to headcount information. With OneStream, HR now has their own cube and workflow to fill out required operational information, simplifying the process and ensuring timely data availability.

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运营影响

OneStream provided Federal-Mogul with a unified CPM solution that is completely owned by the office of Finance, allowing for more powerful ad-hoc reporting and analytics.
The Guided Workflows enable the team to quickly and easily load and consolidate their data, perform exchange adjusted categories, and effectively forecast within one platform.
An automated email process using Guided Workflow allows journal entries to be sent immediately to supervisors for review and approval, ensuring timely and accurate data for full consolidation.
OneStream has enabled Federal-Mogul to put a standard process in place for audit reports with improved controls, making it easier to track changes and providing a great tool for auditors.
The Finance team can now perform detailed Variance Analysis reporting, consolidating information to include key variance explanations without the need for manual data collection and re-keying.

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数量效益