实例探究 > Victaulic Enhances Financial Reporting and Consolidation with OneStream

Victaulic Enhances Financial Reporting and Consolidation with OneStream

公司规模

1,000+

国家

United States

产品

OneStream
Hyperion Enterprise
LedgerLink

技术栈

OneStream

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) - 应用开发平台
平台即服务 (PaaS) - 数据管理平台

适用行业

石油和天然气

适用功能

商业运营
质量保证

服务

软件设计与工程服务
系统集成
培训

关于客户

Since 1919, Victaulic has been the originator and world’s leading producer of mechanical pipe joining solutions. Used in the most demanding markets, Victaulic innovative piping technologies and services put people to work faster while increasing safety, ensuring reliability, and maximizing efficiency. The company has 13 manufacturing facilities and 30 branches worldwide with 3,600 employees who speak 43 languages across the globe. With over 1,900 global patents, Victaulic solutions are at work in more than 140 countries across diverse business lines including oil, gas and chemical, mining, power generation, water and wastewater treatment, military and marine, as well as commercial building and fire protection.

登录后查看完整内容

挑战

Victaulic needed to replace Hyperion Enterprise and LedgerLink. Their requirements revolved around gaining consistent and accessible reporting, improving their data quality as well as simplifying their close processes. They lacked visibility into their month-end close, had no audit trails, and limited multi-currency support. Financial Reporting information was in Enterprise while FP&A information was in their BI tool. Sub-account, elimination entities, and alternate currency entities resulted in massive account and entity structures. Cash flow reporting for auditors was done manually in Excel® without the benefit of process transparency or audit controls.

登录后查看完整内容

解决方案

Victaulic implemented OneStream to gain more insight into their business and improve the close process from end to end in a single product that is easily extended to deliver multiple solutions in one application. Significant benefits were achieved around data quality by providing validation checks during the data submission process which made data more readily available. They were also able to standardize workflows and reports across the enterprise. OneStream’s Guided Workflows created an easily navigable and user-friendly environment and Guided Reporting allowed users to run and view their set books, which is a compilation of different reports based on parameters selected. OneStream provided efficient drill-through capabilities into their transactional detail, something they were not capable of doing in their previous environment. Victaulic implemented a fully automated Cash Flow solution using OneStream, with the ability to generate Cash Flow reports for audit and for internal management use. The Cash Flow solution replaced their offline Excel® spreadsheets. Additionally, they enhanced their bridge data collection and analysis capabilities by collecting more detail inside the system, by running validations on the explained bridge amounts and by providing simple, powerful dashboards and reports for analyzing variances and the bridge explanations.

登录后查看完整内容

运营影响

Victaulic shortened their close process by providing the consolidation team a workflow that runs confirmation rules on trial balance data, override data, and rollforward data to ensure the quality of companywide results.
OneStream provided direct mapping to several source systems thus streamlining data integration and providing a speedy consolidation process saving time and effort and creating faster and more user-friendly reports.
Subsidiaries using the M3 GL system with different chart of accounts are now being mapped using a global transformation rule to ensure consistency.
Users do not have to select different entities for USD and local currency rolled-up data. It’s done by merely selecting the consolidation currency member.

登录后查看完整内容

数量效益