Case Studies Damen Shipyards Enhances Financial Operations with OneStream's Unified Platform

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	Damen Shipyards Enhances Financial Operations with OneStream's Unified Platform

Damen Shipyards Enhances Financial Operations with OneStream's Unified Platform

Technology Category	Analytics & Modeling - Predictive Analytics Analytics & Modeling - Real Time Analytics Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries	Construction & Infrastructure Marine & Shipping
Applicable Functions	Business Operation
Services	Software Design & Engineering Services System Integration Training
Challenge	Damen Shipyards, a multinational shipbuilding group with over 12,000 employees and a presence in more than 100 countries, faced significant challenges in managing their financial data. The company was in the process of rolling out a global IFS ERP system when the finance team realized they needed a better way to oversee the organization. They were using SAP BPC for financial consolidation, but the system was ultimately being held together by Excel spreadsheets, leading to a disjointed mess of data. Damen needed a modern corporate performance management platform to improve financial and fiscal compliance, data governance, streamline forecasting, and reduce business risk. Read More
About Customer	Damen Shipyards is a family-owned company in the shipbuilding community on the River Merwede in the Netherlands. With 54 companies, Damen has shipyards and service hubs worldwide. The company is known for the commonality and reliability of its portfolio, which reduces maintenance requirements and maximizes vessel uptime, resulting in the lowest possible total cost of ownership over the vessel’s lifecycle. Since its founding in 1927, Damen has delivered more than 6,500 vessels and generates over €2B annually. The company employs more than 12,000 people and operates in over 100 countries, delivering more than 175 vessels annually. Read More
Solution	Damen Shipyards selected OneStream's unified platform to replace their SAP BPC system. With the help of OneStream partner AMCO Solutions, Damen completed the first phase of implementation on schedule and within budget. The initial focus was on streamlining the consolidation process by automating processes between operating companies and the holding company. In the second phase, Damen went live with project management and a 24-month rolling forecast scenario. OneStream was set up to manage actuals reporting with equity pickup, as well as comparisons of weekly vs. monthly cashflow. The platform also supports project performance management reporting and forecasting, keeping Damen aligned regarding which entities are working on a ship at any given time. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Analytics & Modeling - Real Time Analytics

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Construction & Infrastructure

Marine & Shipping

Applicable Functions

Business Operation

Services

Software Design & Engineering Services

System Integration

Training

Challenge

Damen Shipyards, a multinational shipbuilding group with over 12,000 employees and a presence in more than 100 countries, faced significant challenges in managing their financial data. The company was in the process of rolling out a global IFS ERP system when the finance team realized they needed a better way to oversee the organization. They were using SAP BPC for financial consolidation, but the system was ultimately being held together by Excel spreadsheets, leading to a disjointed mess of data. Damen needed a modern corporate performance management platform to improve financial and fiscal compliance, data governance, streamline forecasting, and reduce business risk.

About Customer

Damen Shipyards is a family-owned company in the shipbuilding community on the River Merwede in the Netherlands. With 54 companies, Damen has shipyards and service hubs worldwide. The company is known for the commonality and reliability of its portfolio, which reduces maintenance requirements and maximizes vessel uptime, resulting in the lowest possible total cost of ownership over the vessel’s lifecycle. Since its founding in 1927, Damen has delivered more than 6,500 vessels and generates over €2B annually. The company employs more than 12,000 people and operates in over 100 countries, delivering more than 175 vessels annually.

Solution

Damen Shipyards selected OneStream's unified platform to replace their SAP BPC system. With the help of OneStream partner AMCO Solutions, Damen completed the first phase of implementation on schedule and within budget. The initial focus was on streamlining the consolidation process by automating processes between operating companies and the holding company. In the second phase, Damen went live with project management and a 24-month rolling forecast scenario. OneStream was set up to manage actuals reporting with equity pickup, as well as comparisons of weekly vs. monthly cashflow. The platform also supports project performance management reporting and forecasting, keeping Damen aligned regarding which entities are working on a ship at any given time.

Impact #1	OneStream fully replaced SAP BPC and is now set up with validation rules that verify user actions with full audit trail functionality.
Impact #2	Damen’s updated forecast process includes registers that drive balance sheet and profit and loss data.
Impact #3	The unified OneStream model enables Damen to extend the platform further for layered scenario planning for M&A and investments and a group-wide KPI framework.

Impact #1

OneStream fully replaced SAP BPC and is now set up with validation rules that verify user actions with full audit trail functionality.

Impact #2

Damen’s updated forecast process includes registers that drive balance sheet and profit and loss data.

Impact #3

The unified OneStream model enables Damen to extend the platform further for layered scenario planning for M&A and investments and a group-wide KPI framework.

Benefit #1	Damen has delivered more than 6,500 vessels since 1927.
Benefit #2	The company generates over €2B annually.
Benefit #3	Damen employs more than 12,000 people.

Benefit #1

Damen has delivered more than 6,500 vessels since 1927.

Benefit #2

The company generates over €2B annually.

Benefit #3

Damen employs more than 12,000 people.

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Overview

Damen Shipyards Enhances Financial Operations with OneStream's Unified Platform

Operational Impact

Quantitative Benefit