Case Studies
Herbalife Nutrition Implements OneStream for Unified CPM Platform
Overview
Analytics & Modeling - Predictive Analytics Application Infrastructure & Middleware - Data Exchange & Integration Functional Applications - Enterprise Resource Planning Systems (ERP) Platform as a Service (PaaS) - Data Management Platforms | |
Consumer Goods Healthcare & Hospitals | |
Business Operation Quality Assurance Sales & Marketing | |
Cloud Planning, Design & Implementation Services Software Design & Engineering Services System Integration Training | |
Operational Impact
With OneStream, everything is now in one place for analysis. Cash flow reporting is automated, and the end users have access to reporting and analysis tools including the Excel add-in, dashboards and Cube Views. Financial statement analysis that was previously done in SharePoint is now also done in OneStream. Herbalife Nutrition is also leveraging Guided Workflow approvals to handle statement analysis forms, which are now easier to update, comment and track. | |
On the FP&A side, the company is using a driver-based rolling forecast to seed next year’s budget by forecasting revenue and expenses. “Our new planning process using workflows helped to streamline how data was entered and calculated and to provide results quicker, with more transparency,” said Yeung. “We are relying less on manual processes with direct integration of HR data. We’re now able to go back to the source and consolidate information much quicker. Comparing data across multiple forecasts and translating at different FX rates without a waiting period, has definitely improved our efficiencies.” | |
OneStream provides users the ability to see project code results for revenue and costs – which they didn’t have before in HFM. Now end users have more confidence in the data and are spending less time reconciling. This allows the company’s IT team to concentrate on adding value, rather than troubleshooting issues. “From an IT side, the month-end close is much smoother,” said Ajay Gaddam, Director Enterprise Application at Herbalife Nutrition. “The reliability of integrations is better, the system availability is higher, and we are no longer experiencing data loss.” | |
Quantitative Benefit
Herbalife Nutrition went live with 2.5 years of data conversion in just 10 months. | |
Automating intercompany eliminations and FX calculations for 30+ currencies. | |
Eliminated licensing and maintenance costs by replacing Hyperion Planning, Essbase and HFM. | |