实例探究 > Terex Corporation's Transition to OneStream for Unified Financial Management

Terex Corporation's Transition to OneStream for Unified Financial Management

公司规模
1,000+
地区
  • America
国家
  • United States
产品
  • OneStream
  • Oracle Hyperion Financial Management (HFM)
  • Oracle Hyperion Financial Data Quality Management (FDM)
  • Prophix
  • Oracle Enterprise Planning and Budgeting Cloud Service (EPBCS)
技术栈
  • Microsoft Azure
  • 64-bit architecture
  • Multi-threading of calculations
实施规模
  • Enterprise-wide Deployment
影响指标
  • Cost Savings
  • Customer Satisfaction
  • Digital Expertise
  • Productivity Improvements
技术
  • 分析与建模 - 预测分析
  • 平台即服务 (PaaS) - 应用开发平台
  • 平台即服务 (PaaS) - 数据管理平台
适用行业
  • 建筑与基础设施
  • 运输
适用功能
  • 商业运营
  • 质量保证
服务
  • 云规划/设计/实施服务
  • 软件设计与工程服务
  • 系统集成
关于客户
Terex Corporation (NYSE: TEX) is a global manufacturer of lifting and material processing products and services delivering lifecycle solutions that maximize customer return on investment. Major Terex brands include Terex, Genie, and Powerscreen. Terex solutions serve a broad range of industries, including construction, infrastructure, manufacturing, shipping, transportation, refining, energy, utilities, quarrying, and mining. With revenues approaching $5 billion, Terex has approximately 12,000 employees and operates manufacturing facilities throughout the world.
挑战
Terex was using Oracle Hyperion Financial Management (HFM) and Oracle Hyperion Financial Data Quality Management (FDM) for financial consolidation, close, high-level budgeting, and reporting. For detailed budgets, they relied on several point solutions such as Prophix for one of their segments and Excel for others. They faced a major and costly upgrade of their HFM and FDM applications and realized there would be a lot of data migrations required to keep HFM and EPBCS in sync. Terex began evaluating OneStream as a unified solution for financial consolidation, close, reporting, and all their planning needs. They saw an opportunity to start fresh with a single solution for both actuals reporting and planning, with enough detail to accommodate both processes in a single system. OneStream’s platform could eliminate painful data administration performed by the FP&A team, and its Extensible Dimensionality® would allow for the elimination of Prophix, which was used for line-of-business planning. Additionally, OneStream offered a robust technology solution built on a 64-bit architecture, with multi-threading of calculations, and the ability to be deployed via the Microsoft Azure cloud. Terex found OneStream’s customer references to be enthusiastic and 100% positive, which firmed up their decision to move to OneStream’s unified platform.
解决方案
With the help of OneStream partner CompIntelligence, Terex laid out a nine-month implementation plan that included addressing both actuals reporting and planning simultaneously. They designed a hybrid chart of accounts that replicated the HFM chart required for consolidation and reporting and extended it with the details required by the FP&A team. This approach allowed the consolidation team to work concurrently with FP&A, building models and integrations. They also did three months of parallel closes before going live on OneStream in November 2018. The prior approach to budgeting and planning using HFM, Prophix, and other systems at Terex placed many limitations on the FP&A team. HFM had limited dimensionality to capture the detail required to plan by product lines, brands, functions, geographies, plant sites, and customers. This led to the creation of supplemental schedules to collect the data. There was no concept of extensibility to support future growth into models or planning by SKUs. Planning was very manual with limited ad hoc scenario analysis and no automated way to seed forecasts or run currency impact scenarios. With OneStream, Terex was able to create a detailed chart of accounts for the business in one application, which allowed them to collect the granular level of detail needed in one central place. Step-by-step workflows now guide users through the budgeting process and allow each segment to budget the way they manage their business. They improved the quality of intercompany data by creating an auto-matching process. Budgeting sales by geography has been made easier for users by creating percent allocation forms.
运营影响
  • The consolidation and reporting process is significantly simplified with OneStream. The organization structure was reduced to 140+ reporting entities with 85 automated workflows.
  • 97% of reporting entities are now loading directly from their 28 ERP systems, easing the burden on the corporate team.
  • The number of rules needed was reduced from over 15,000 to less than 1,000 rules.
  • The full system consolidation time has decreased from up to 20 hours to less than 30 minutes.
  • The new system has streamlined the financial close, budgeting, and forecasting processes and has improved data quality and availability as a result.
数量效益
  • Consolidations reduced from 18 to 20 hours to less than 15 minutes.
  • Nine months to go-live on OneStream for consolidation, reporting, and planning.

Case Study missing?

Start adding your own!

Register with your work email and create a new case study profile for your business.

Add New Record

相关案例.

联系我们

欢迎与我们交流!
* Required
* Required
* Required
* Invalid email address
提交此表单,即表示您同意 IoT ONE 可以与您联系并分享洞察和营销信息。
不,谢谢,我不想收到来自 IoT ONE 的任何营销电子邮件。
提交

感谢您的信息!
我们会很快与你取得联系。