Case Studies Henniges Automotive Streamlines Financial Reporting and Improves Profitability Insights with OneStream

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	Henniges Automotive Streamlines Financial Reporting and Improves Profitability Insights with OneStream

Henniges Automotive Streamlines Financial Reporting and Improves Profitability Insights with OneStream

Technology Category	Analytics & Modeling - Predictive Analytics Application Infrastructure & Middleware - Data Exchange & Integration Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries	Automotive
Applicable Functions	Business Operation Product Research & Development Quality Assurance
Services	Software Design & Engineering Services System Integration Training
Challenge	Henniges previously used Hyperion Enterprise as a consolidation tool and Hyperion Retrieve for reporting. They also used a home-grown SQL Database for all data loading, integration, and mapping activities. The company wanted a unified solution for all their financial consolidation and reporting, forecasting, and analysis — all maintainable by the same staff that maintained Hyperion Enterprise. Read More
About Customer	Henniges Automotive provides automotive original equipment manufacturers (OEMs) with sealing systems for doors, windows, trunks, lift gates, sunroofs, and hoods. The company also supplies the automotive market with anti-vibration components and encapsulated glass systems. Henniges sells to all major Automotive OEM customers and operates facilities in North America, South America, Europe, and Asia. The company has 7,700 employees worldwide. Read More
Solution	Henniges initially implemented OneStream to deliver multiple solutions to meet all their financial reporting requirements in one application. This included corporate financial consolidation and reporting, sales/EBITDA bridging with automated stacking, high-level product profitability, departmental reporting for corporate, automated integration with Plex GL, purchase accounting, and change in control, and conversion to IFRS in 2017. Henniges also had a need for more detailed customer and product profitability analysis and extended their implementation to address these requirements in 2017. This entailed integrating non-GL data and leveraging OneStream to harmonize, store, allocate, and aggregate the data at a detailed (part number) level. The solution helps Henniges perform detailed allocations and produce a summarized P&L (thru EBITDA) for any part, vehicle, product, or customer. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Application Infrastructure & Middleware - Data Exchange & Integration

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Automotive

Applicable Functions

Business Operation

Product Research & Development

Quality Assurance

Services

Software Design & Engineering Services

System Integration

Training

Challenge

Henniges previously used Hyperion Enterprise as a consolidation tool and Hyperion Retrieve for reporting. They also used a home-grown SQL Database for all data loading, integration, and mapping activities. The company wanted a unified solution for all their financial consolidation and reporting, forecasting, and analysis — all maintainable by the same staff that maintained Hyperion Enterprise.

About Customer

Henniges Automotive provides automotive original equipment manufacturers (OEMs) with sealing systems for doors, windows, trunks, lift gates, sunroofs, and hoods. The company also supplies the automotive market with anti-vibration components and encapsulated glass systems. Henniges sells to all major Automotive OEM customers and operates facilities in North America, South America, Europe, and Asia. The company has 7,700 employees worldwide.

Solution

Henniges initially implemented OneStream to deliver multiple solutions to meet all their financial reporting requirements in one application. This included corporate financial consolidation and reporting, sales/EBITDA bridging with automated stacking, high-level product profitability, departmental reporting for corporate, automated integration with Plex GL, purchase accounting, and change in control, and conversion to IFRS in 2017. Henniges also had a need for more detailed customer and product profitability analysis and extended their implementation to address these requirements in 2017. This entailed integrating non-GL data and leveraging OneStream to harmonize, store, allocate, and aggregate the data at a detailed (part number) level. The solution helps Henniges perform detailed allocations and produce a summarized P&L (thru EBITDA) for any part, vehicle, product, or customer.

Impact #1	Henniges was able to replace several disparate systems (Hyperion Enterprise, custom SQL Database, remote desktop for accessing HE, and manual Excel uploads for actuals) with a singularly integrated OneStream solution.
Impact #2	OneStream’s Guided Workflows give each business user a step-by-step process that ensures the quality of data and delivers the reporting and analysis at each step.
Impact #3	Significant benefits have been achieved around audit, controls, intercompany eliminations, and automated update of forecast when actuals are loaded.

Impact #1

Henniges was able to replace several disparate systems (Hyperion Enterprise, custom SQL Database, remote desktop for accessing HE, and manual Excel uploads for actuals) with a singularly integrated OneStream solution.

Impact #2

OneStream’s Guided Workflows give each business user a step-by-step process that ensures the quality of data and delivers the reporting and analysis at each step.

Impact #3

Significant benefits have been achieved around audit, controls, intercompany eliminations, and automated update of forecast when actuals are loaded.

Benefit #1	Data collection time reduced from day 16 to day 4.

Benefit #1

Data collection time reduced from day 16 to day 4.

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Overview

Henniges Automotive Streamlines Financial Reporting and Improves Profitability Insights with OneStream

Operational Impact

Quantitative Benefit