Case Studies Lindsay Corporation Streamlines Financial Processes with OneStream Cloud

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	Lindsay Corporation Streamlines Financial Processes with OneStream Cloud

Lindsay Corporation Streamlines Financial Processes with OneStream Cloud

Technology Category	Analytics & Modeling - Predictive Analytics Platform as a Service (PaaS) - Application Development Platforms Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries	Agriculture Construction & Infrastructure
Applicable Functions	Business Operation Quality Assurance
Services	Cloud Planning, Design & Implementation Services System Integration Training
Challenge	As a global company with multiple business units, reliance on Excel® spreadsheets and their Microsoft Dynamics Navision general ledger (GL) for financial consolidation, reporting, budgeting, and forecasting was no longer sufficient. These critical financial processes relied on manual efforts and took too long. Finance executives didn’t have visibility into the right level of operational detail or the impacts of currency rates on their financial results. Getting through the monthly financial close, forecast updates, and preparation for monthly business reviews using their existing tools and processes required a full two weeks—delaying delivery of management information and review of business performance. Business unit (BU) Controllers were spending too much time on data manipulation and not enough on analysis and supporting decision-making. It was time for a change. Read More
About Customer	Lindsay Corporation, headquartered in Omaha, Nebraska, is a global manufacturer and distributor of irrigation and infrastructure equipment and technology. The company primarily manufactures and markets irrigation equipment used in agricultural markets to increase or stabilize crop production while conserving water, energy, and labor. Additionally, Lindsay manufactures and markets infrastructure and road safety products under the Lindsay Transportation Solutions trade name. The company is publicly traded on the New York Stock Exchange under the symbol LNN. With a diverse portfolio and a global presence, Lindsay Corporation faces complex financial and operational challenges that require robust and efficient solutions. Read More
Solution	With a preference towards cloud applications, Lindsay Corporation evaluated Oracle’s EPM Cloud applications along with OneStream’s unified platform. OneStream was chosen for its unified approach, ease of maintenance, lower total cost of ownership (TCO), and the ability to capture financial results at the right level of detail. Lindsay implemented OneStream Cloud for financial consolidation and reporting of actual financial results, as well as for budgeting and monthly forecasting. OneStream’s Intelligent Finance Platform collects and consolidates data from 20 different GLs, with eight currencies, and different charts of accounts being mapped to OneStream. The initial implementation was completed in six months, with three months of additional parallel testing before going live in September 2017. Deploying via the OneStream Cloud eliminated the need for internal infrastructure and minimized the amount of IT time required to set up and support the system. This allowed the finance team to be more autonomous, as maintenance and upgrades are easy. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Platform as a Service (PaaS) - Application Development Platforms

Platform as a Service (PaaS) - Data Management Platforms

Applicable Industries

Agriculture

Construction & Infrastructure

Applicable Functions

Business Operation

Quality Assurance

Services

Cloud Planning, Design & Implementation Services

System Integration

Training

Challenge

As a global company with multiple business units, reliance on Excel® spreadsheets and their Microsoft Dynamics Navision general ledger (GL) for financial consolidation, reporting, budgeting, and forecasting was no longer sufficient. These critical financial processes relied on manual efforts and took too long. Finance executives didn’t have visibility into the right level of operational detail or the impacts of currency rates on their financial results. Getting through the monthly financial close, forecast updates, and preparation for monthly business reviews using their existing tools and processes required a full two weeks—delaying delivery of management information and review of business performance. Business unit (BU) Controllers were spending too much time on data manipulation and not enough on analysis and supporting decision-making. It was time for a change.

About Customer

Lindsay Corporation, headquartered in Omaha, Nebraska, is a global manufacturer and distributor of irrigation and infrastructure equipment and technology. The company primarily manufactures and markets irrigation equipment used in agricultural markets to increase or stabilize crop production while conserving water, energy, and labor. Additionally, Lindsay manufactures and markets infrastructure and road safety products under the Lindsay Transportation Solutions trade name. The company is publicly traded on the New York Stock Exchange under the symbol LNN. With a diverse portfolio and a global presence, Lindsay Corporation faces complex financial and operational challenges that require robust and efficient solutions.

Solution

With a preference towards cloud applications, Lindsay Corporation evaluated Oracle’s EPM Cloud applications along with OneStream’s unified platform. OneStream was chosen for its unified approach, ease of maintenance, lower total cost of ownership (TCO), and the ability to capture financial results at the right level of detail. Lindsay implemented OneStream Cloud for financial consolidation and reporting of actual financial results, as well as for budgeting and monthly forecasting. OneStream’s Intelligent Finance Platform collects and consolidates data from 20 different GLs, with eight currencies, and different charts of accounts being mapped to OneStream. The initial implementation was completed in six months, with three months of additional parallel testing before going live in September 2017. Deploying via the OneStream Cloud eliminated the need for internal infrastructure and minimized the amount of IT time required to set up and support the system. This allowed the finance team to be more autonomous, as maintenance and upgrades are easy.

Impact #1	The OneStream solution has enabled Lindsay Corporation to wrap up the monthly close process by day five, which is at least a 25% improvement. This has facilitated faster management reporting and more agile decision-making.
Impact #2	Business Units now get their data right away and don’t have to wait until the corporate results are finalized, allowing for more timely and accurate decision-making at the BU level.
Impact #3	The company has seen improved data integrity and workflows from a SOX compliance standpoint, as well as enhanced planning and forecasting capabilities.

Impact #1

The OneStream solution has enabled Lindsay Corporation to wrap up the monthly close process by day five, which is at least a 25% improvement. This has facilitated faster management reporting and more agile decision-making.

Impact #2

Business Units now get their data right away and don’t have to wait until the corporate results are finalized, allowing for more timely and accurate decision-making at the BU level.

Impact #3

The company has seen improved data integrity and workflows from a SOX compliance standpoint, as well as enhanced planning and forecasting capabilities.

Benefit #1	The initial implementation was completed in six months, with three months of additional parallel testing.
Benefit #2	The monthly close process has improved by at least 25%, now wrapping up by day five.
Benefit #3	The company is saving at least two days per month on forecasting due to the unified approach of OneStream.

Benefit #1

The initial implementation was completed in six months, with three months of additional parallel testing.

Benefit #2

The monthly close process has improved by at least 25%, now wrapping up by day five.

Benefit #3

The company is saving at least two days per month on forecasting due to the unified approach of OneStream.

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Overview

Lindsay Corporation Streamlines Financial Processes with OneStream Cloud

Operational Impact

Quantitative Benefit