Case Studies Lucy Group Transforms Financial Management with OneStream Software

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	Lucy Group Transforms Financial Management with OneStream Software

Lucy Group Transforms Financial Management with OneStream Software

Technology Category	Platform as a Service (PaaS) - Application Development Platforms Platform as a Service (PaaS) - Data Management Platforms
Applicable Functions	Business Operation
Services	Cloud Planning, Design & Implementation Services System Integration Training
Challenge	Lucy Group had been using Oracle Hyperion Enterprise for financial consolidations, budgeting, planning, and reporting. The organization faced complications due to its operations across multiple overseas locations, relying on several point solutions across its four business units. The finance team was challenged with manually integrating data from multiple GL and ERP applications, including Dynamics AX and Sage. After 10 years of using Hyperion Enterprise, Lucy Group struggled with product limitations and a lack of visibility into the financial breakdown of business segments. They needed a more efficient solution to meet management demands for greater insights into financial data. Read More
About Customer	Lucy Group is a privately-owned, international business group with origins dating back over 200 years. Initially focused on manufacturing metal castings, the company has evolved into a group comprising four distinct business units: Lucy Castings, Lucy Controls, Lucy Electric, and Lucy Real Estate. Employing over 1,400 people across offices and factories in 10 regions, Lucy Group trades in over 60 countries. The company has a rich history and a diverse portfolio, making it a significant player in the manufacturing industry. Read More
Solution	To address their data integration issues, Lucy Group evaluated Corporate Performance Management (CPM) platforms and selected OneStream Software. OneStream offered a single solution platform that eliminated the risk and complexity of data integration, validation, and reconciliation between multiple products or applications. The platform's built-in workflow functionality increased visibility and accountability, allowing users to load data directly into OneStream for managerial review. Lucy Group initially deployed OneStream on-premise but is considering a future move to the cloud. OneStream's flexibility and agility, built on 64-bit architecture, make it suitable for cloud, hosted, or on-premise implementations. The platform also offers quick system upgrades, completed within hours. Read More Log in to view content
Contents

Technology Category

Platform as a Service (PaaS) - Application Development Platforms

Platform as a Service (PaaS) - Data Management Platforms

Applicable Functions

Business Operation

Services

Cloud Planning, Design & Implementation Services

System Integration

Training

Challenge

Lucy Group had been using Oracle Hyperion Enterprise for financial consolidations, budgeting, planning, and reporting. The organization faced complications due to its operations across multiple overseas locations, relying on several point solutions across its four business units. The finance team was challenged with manually integrating data from multiple GL and ERP applications, including Dynamics AX and Sage. After 10 years of using Hyperion Enterprise, Lucy Group struggled with product limitations and a lack of visibility into the financial breakdown of business segments. They needed a more efficient solution to meet management demands for greater insights into financial data.

About Customer

Lucy Group is a privately-owned, international business group with origins dating back over 200 years. Initially focused on manufacturing metal castings, the company has evolved into a group comprising four distinct business units: Lucy Castings, Lucy Controls, Lucy Electric, and Lucy Real Estate. Employing over 1,400 people across offices and factories in 10 regions, Lucy Group trades in over 60 countries. The company has a rich history and a diverse portfolio, making it a significant player in the manufacturing industry.

Solution

To address their data integration issues, Lucy Group evaluated Corporate Performance Management (CPM) platforms and selected OneStream Software. OneStream offered a single solution platform that eliminated the risk and complexity of data integration, validation, and reconciliation between multiple products or applications. The platform's built-in workflow functionality increased visibility and accountability, allowing users to load data directly into OneStream for managerial review. Lucy Group initially deployed OneStream on-premise but is considering a future move to the cloud. OneStream's flexibility and agility, built on 64-bit architecture, make it suitable for cloud, hosted, or on-premise implementations. The platform also offers quick system upgrades, completed within hours.

Impact #1	OneStream has enabled Lucy Group to standardize financial management processes on a single global CPM platform.
Impact #2	The organization has experienced numerous efficiency improvements, including the ability to drill down to source data through OneStream cube views.
Impact #3	OneStream provides strict workflow controls, allowing Lucy Group to create standard, defined, and repeatable processes for maximum confidence in user-driven processes.

Impact #1

OneStream has enabled Lucy Group to standardize financial management processes on a single global CPM platform.

Impact #2

The organization has experienced numerous efficiency improvements, including the ability to drill down to source data through OneStream cube views.

Impact #3

OneStream provides strict workflow controls, allowing Lucy Group to create standard, defined, and repeatable processes for maximum confidence in user-driven processes.

Benefit #1	OneStream system upgrades are completed within hours, not months.
Benefit #2	Lucy Group employs over 1,400 people across 10 regions.
Benefit #3	The company trades in over 60 countries.

Benefit #1

OneStream system upgrades are completed within hours, not months.

Benefit #2

Lucy Group employs over 1,400 people across 10 regions.

Benefit #3

The company trades in over 60 countries.

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Overview

Lucy Group Transforms Financial Management with OneStream Software

Operational Impact

Quantitative Benefit