实例探究 > Valeo Foods Implements OneStream for Enhanced Financial Management

Valeo Foods Implements OneStream for Enhanced Financial Management

公司规模

1,000+

地区

Europe

国家

Ireland

产品

OneStream
Excel

技术栈

Corporate Performance Management (CPM)
Business Intelligence (BI)

实施规模

Enterprise-wide Deployment

影响指标

Cost Savings
Customer Satisfaction
Productivity Improvements

技术

分析与建模 - 预测分析
平台即服务 (PaaS) - 数据管理平台

适用行业

消费品

适用功能

商业运营

服务

软件设计与工程服务
系统集成

关于客户

Valeo Foods is one of Europe’s fastest growing consumer foods producers, headquartered in Dublin, Ireland, with a portfolio of 68 international brands. Valeo Foods has quadrupled in size since its formation in 2010, and has successfully acquired 12 leading food businesses post formation. Valeo Foods has €870 million annual sales spread across 92 global markets. The company has a strong presence in the consumer foods production industry and has been expanding rapidly through acquisitions. With a diverse range of brands and a significant market reach, Valeo Foods is a key player in the European consumer foods sector.

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挑战

Valeo Foods Group had grown significantly through acquisitions, yet was still using Excel® for its monthly close and consolidation process. All the local operating entities reported their data from different source systems in Excel® sheets. These sheets were then emailed to the Group Finance team to collate both management and statutory information in Excel®. This included consolidations for foreign currency translations, which was becoming more difficult as the group expanded into new geographies with different reporting currencies. The manual nature of the consolidation process presented challenges in calculating these scenarios. On top of this, as each financial year passed, the Excel® consolidated model continued to get larger with increased complexity and was becoming unsustainable. Both management and statutory reporting was completed in Excel® and was becoming increasingly cumbersome and prone to error. “We then started the search for a sustainable tool to enable the way forward,” says Dónal Staunton of Valeo Foods, Group Finance. “We needed to safeguard the creation of financial and management reports with a modern solution offering the agility to support future growth.”

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解决方案

Valeo Foods began reviewing corporate performance management (CPM) products and evaluated several options, both large and small. Given the acquisitive nature of the business, Valeo Foods wanted to assess in detail which solution was flexible enough to account for these critical and frequent business changes. AMCO Solutions, a Diamond OneStream Partner, was asked to show Valeo how OneStream would cope with their requirements. They explained how the implementation would work in a detailed design document. “Ultimately, OneStream was selected based on positive feedback from global research firms, and after a demonstration of the platform’s capability during the vendor selection process,” says Staunton. “Also, the many positive reviews from calls we conducted with existing OneStream customers firmed up our decision.” The implementation of OneStream started with a design phase in which the scope of the project was determined. Phase 1 of the overall Valeo Foods CPM Roadmap encompasses the financial consolidation and close process. The initial part of Phase 2 will see the KPI framework defined and non-financial data added in the database. The second part of Phase 2 will see Business Intelligence (BI) reporting brought into the application. Phase 3 will see driver-based forecasting deployed with OneStream.

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运营影响

As a result of the implementation, Valeo Foods has realized significant improvement in management reporting and financial statements, which is recognized by many stakeholders. “With OneStream, we are benefitting from the increased reporting transparency and analysis possibilities,” adds Staunton. “There is now one version of the truth.”
The monthly close is finalized in a significantly faster (roughly three to four days) and more efficient manner, with the reduction in use of Excel® leading to improved data quality. In total, close to 30 spreadsheets were eliminated from use in the monthly process. This gives Staunton and the Valeo Foods Group Finance team the opportunity to spend additional time on the review and analysis of data and results as opposed to merely preparing reports.
Further, Valeo Foods now has all relevant details of the group consolidated equity and goodwill of each entity. The local entities can reconcile their intercompany balances with other entities and have comprehensive and accurate details of their balances. OneStream provides Valeo Foods many built-in validations, resulting in intercompany differences to be identified instantly and resolved easily at local entity level.

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数量效益