Case Studies Royo Group Transforms Financial Processes with OneStream

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	Royo Group Transforms Financial Processes with OneStream

Royo Group Transforms Financial Processes with OneStream

Technology Category	Analytics & Modeling - Predictive Analytics Functional Applications - Enterprise Resource Planning Systems (ERP) Platform as a Service (PaaS) - Data Management Platforms
Applicable Functions	Business Operation Quality Assurance
Services	System Integration Training
Challenge	A thriving global organization, Royo Group has expanded in recent years, both organically and through acquisitions. Having inherited multiple non-unified information systems, Royo Group has seen a dramatic increase in the complexity of their financial reporting and planning processes. Their reliance on Excel® spreadsheets and legacy systems for consolidation, planning and reporting made it difficult to obtain information on demand from each of their entities. There was also a significant need to implement a more detailed and connected planning process. Working through hundreds of spreadsheets required a lot of employee time and dedicated attention. Making a change to annual budget involved excessive manual effort and was subject to errors that were difficult to locate and manage. Royo Group needed digital transformation in the Finance Department to support financial close, reporting and planning processes with improved insight across multiple locations. By implementing a unified platform that provided immediate access to relevant information, employees across each entity could dedicate more time to value-added tasks. Simply put, Royo Group needed a solution that would give them more control over their subsidiaries, present and future. Read More
About Customer	Based in Valencia, Spain, Royo Group (RGIB) is a European leader in the field of bathroom furniture and shower space in Spain, France, Italy, and Poland, specializing in the manufacturing of stylish shower trays and columns. The mission of Royo Group is to improve people’s quality of life in their most private living space by making the difference. Today, Royo Group produces more than one million pieces of furniture every year. The company has expanded significantly in recent years, both organically and through acquisitions, which has led to a more complex financial reporting and planning process. Royo Group's reliance on Excel® spreadsheets and legacy systems for consolidation, planning, and reporting made it difficult to obtain information on demand from each of their entities, necessitating a digital transformation in their Finance Department. Read More
Solution	Royo Group completed a thorough evaluation of cloud corporate performance management (CPM) products from Tagetik, SAP, and Oracle, but needed a platform that provided more agility and scalability to support potential acquisitions. After two months of review, with the help of CIS Consulting, they chose OneStream to replace their bulky spreadsheets and legacy systems. OneStream would help Royo Group transform financial consolidation, planning, and reporting processes as a single, unified solution that was easily accessible by multiple business units to streamline decision-making company-wide. In addition, OneStream’s MarketPlace provides additional solutions that Royo Group previously could not address due to lack of resources. Now with OneStream, Royo Group has standardized the preparation of budgets through a globally accessible platform which any authorized person can use at any time, from any place. The OneStream Cloud platform allows Royo Group to trace the underlying causes and assumptions of any figure in their planning process to ensure accuracy and consistency. It was very important that Royo Group had the ability to automate financial close and reporting. Previously, the organization would generate over 130 pages of information manually by merging data between spreadsheets from each entity. With OneStream, Royo Group’s monthly close process includes the automation of product volume, mix, and price calculations — a task that previously exhausted the capacities of Excel®. The OneStream platform feeds on real, up-to-date data for efficient financial reports with accurate detail of variations. OneStream has allowed Royo Group to gain greater control over subsidiaries with more efficient financial close and consolidation processes as well as strategic planning and analysis from a single platform. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Functional Applications - Enterprise Resource Planning Systems (ERP)

Platform as a Service (PaaS) - Data Management Platforms

Applicable Functions

Business Operation

Quality Assurance

Services

System Integration

Training

Challenge

A thriving global organization, Royo Group has expanded in recent years, both organically and through acquisitions. Having inherited multiple non-unified information systems, Royo Group has seen a dramatic increase in the complexity of their financial reporting and planning processes. Their reliance on Excel® spreadsheets and legacy systems for consolidation, planning and reporting made it difficult to obtain information on demand from each of their entities. There was also a significant need to implement a more detailed and connected planning process. Working through hundreds of spreadsheets required a lot of employee time and dedicated attention. Making a change to annual budget involved excessive manual effort and was subject to errors that were difficult to locate and manage. Royo Group needed digital transformation in the Finance Department to support financial close, reporting and planning processes with improved insight across multiple locations. By implementing a unified platform that provided immediate access to relevant information, employees across each entity could dedicate more time to value-added tasks. Simply put, Royo Group needed a solution that would give them more control over their subsidiaries, present and future.

About Customer

Based in Valencia, Spain, Royo Group (RGIB) is a European leader in the field of bathroom furniture and shower space in Spain, France, Italy, and Poland, specializing in the manufacturing of stylish shower trays and columns. The mission of Royo Group is to improve people’s quality of life in their most private living space by making the difference. Today, Royo Group produces more than one million pieces of furniture every year. The company has expanded significantly in recent years, both organically and through acquisitions, which has led to a more complex financial reporting and planning process. Royo Group's reliance on Excel® spreadsheets and legacy systems for consolidation, planning, and reporting made it difficult to obtain information on demand from each of their entities, necessitating a digital transformation in their Finance Department.

Solution

Royo Group completed a thorough evaluation of cloud corporate performance management (CPM) products from Tagetik, SAP, and Oracle, but needed a platform that provided more agility and scalability to support potential acquisitions. After two months of review, with the help of CIS Consulting, they chose OneStream to replace their bulky spreadsheets and legacy systems. OneStream would help Royo Group transform financial consolidation, planning, and reporting processes as a single, unified solution that was easily accessible by multiple business units to streamline decision-making company-wide. In addition, OneStream’s MarketPlace provides additional solutions that Royo Group previously could not address due to lack of resources. Now with OneStream, Royo Group has standardized the preparation of budgets through a globally accessible platform which any authorized person can use at any time, from any place. The OneStream Cloud platform allows Royo Group to trace the underlying causes and assumptions of any figure in their planning process to ensure accuracy and consistency. It was very important that Royo Group had the ability to automate financial close and reporting. Previously, the organization would generate over 130 pages of information manually by merging data between spreadsheets from each entity. With OneStream, Royo Group’s monthly close process includes the automation of product volume, mix, and price calculations — a task that previously exhausted the capacities of Excel®. The OneStream platform feeds on real, up-to-date data for efficient financial reports with accurate detail of variations. OneStream has allowed Royo Group to gain greater control over subsidiaries with more efficient financial close and consolidation processes as well as strategic planning and analysis from a single platform.

Impact #1	Royo Group has standardized the preparation of budgets through a globally accessible platform which any authorized person can use at any time, from any place.
Impact #2	The OneStream Cloud platform allows Royo Group to trace the underlying causes and assumptions of any figure in their planning process to ensure accuracy and consistency.
Impact #3	With OneStream, Royo Group’s monthly close process includes the automation of product volume, mix, and price calculations — a task that previously exhausted the capacities of Excel®.

Impact #1

Royo Group has standardized the preparation of budgets through a globally accessible platform which any authorized person can use at any time, from any place.

Impact #2

The OneStream Cloud platform allows Royo Group to trace the underlying causes and assumptions of any figure in their planning process to ensure accuracy and consistency.

Impact #3

With OneStream, Royo Group’s monthly close process includes the automation of product volume, mix, and price calculations — a task that previously exhausted the capacities of Excel®.

Benefit #1	Royo Group produces more than one million pieces of furniture every year.
Benefit #2	Eliminated 130 pages of spreadsheets.
Benefit #3	Royo Group’s monthly close process now includes the automation of product volume, mix, and price calculations.

Benefit #1

Royo Group produces more than one million pieces of furniture every year.

Benefit #2

Eliminated 130 pages of spreadsheets.

Benefit #3

Royo Group’s monthly close process now includes the automation of product volume, mix, and price calculations.

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Overview

Royo Group Transforms Financial Processes with OneStream

Operational Impact

Quantitative Benefit