Case Studies
Premium Sound Solutions Implements OneStream for Enhanced Financial Management
Overview
Analytics & Modeling - Predictive Analytics Functional Applications - Enterprise Resource Planning Systems (ERP) Platform as a Service (PaaS) - Data Management Platforms | |
Automotive Consumer Goods | |
Business Operation | |
Software Design & Engineering Services System Integration Training | |
Operational Impact
OneStream delivers for Premium Sound Solutions with ad hoc reporting for management and business users that is more powerful and suitable for their requirements. In addition to standard actuals consolidations and reporting, the application has been setup with automatic recalculation of actuals at budget rate for forecasting purposes. The budget process is using a dynamic starting point for the opening balances to facilitate the continuous updating of balance sheet figures during the budget preparation process. Their year-end forecast is now seeded with a combination of actual and budget data, depending on the current period. | |
Premium Sound Solutions is thrilled to have one application that can be extended to deliver multiple solutions without adding technical complexity. With OneStream, they can easily deploy analytic dashboards including detailed customer and cost center analytics. Through the OneStream MarketPlace, Premium Sound Solutions can simply download and implement new solutions without needing to upgrade multiple products, applications or modules. They now have an all-in-one toolbox for standard translations, historical overrides, roll-forwards and more. | |
Above all, the workflow methodology found in OneStream has been a favorite feature of Premium Sound Solutions. Workflow structures are being used for actuals and budget reporting with step-by-step process checkpoints to ensure data quality and standardize collection processes. The uniquely predefined workflows enable each individual user to complete their reporting cycle on their own, without requiring additional assistance. With operating facilities across the globe working in different time zones, this self-supported end user experience provides Premium Sound Solutions with peace of mind. As an agile solution, OneStream keeps business moving by empowering end users with the tools to complete individual tasks without delay. Processes are streamlined as there is no longer a need to wait for other user to print a report. The recalculation and translation of comparable data is triggered in the end user workflow with the simple press of a single button. In addition, workflow reporting functionalities provide management with an audit trail into each user’s actions for improved data integrity and consistency checks. | |
Quantitative Benefit
Implementation completed in four months | |
Transformed financial reporting model from 12 unstructured dimensions to 15 structured dimensions | |
Improved insight into the impact of currency fluctuations | |