Case Studies Van Oord's Finance Transformation with OneStream and AMCO Solutions

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	Van Oord's Finance Transformation with OneStream and AMCO Solutions

Van Oord's Finance Transformation with OneStream and AMCO Solutions

Technology Category	Analytics & Modeling - Predictive Analytics Application Infrastructure & Middleware - Data Exchange & Integration Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries	Construction & Infrastructure Marine & Shipping
Applicable Functions	Business Operation
Services	Software Design & Engineering Services System Integration Training
Challenge	Van Oord operates with a complex structure that is constantly changing and increasingly disruptive. With a finance staff of around 250 people, 200 reporting entities, and averaging 300 active projects across more than 50 countries, the sheer volume of data to manage was a challenge. On top of that, Van Oord deals with various local statutory, fiscal, and reporting regulations. Van Oord’s CPM landscape consisted of Infor MPC for consolidation and Microsoft Excel for data processing, project cost control, and reporting. The result was duplicate data entries and required manual eliminations. Van Oord was operating with multiple versions of the truth. Reconciliation and data quality issues were ending up at business unit and group level for further investigation and solving. Equipment and project specifications were entered as free text, making aggregation and ‘slice and dice’ very difficult. Van Oord wants to transform its finance function to become more lean, agile, and future-proof to adapt to the constantly changing environment. They needed a solution that would easily integrate financial accounting, project cost control, project reporting, and equipment reporting into a single, unified platform. Read More
About Customer	Van Oord is a Dutch family-owned company with over 150 years of experience as an international marine contractor. They specialize in dredging, oil & gas infrastructure, and offshore wind. The company is strongly rooted in the Dutch continuous struggle with water and values innovative and sustainable solutions. Van Oord’s annual turnover is around 2 billion euros, and they employ approximately 5,000 employees. The company operates globally, managing complex projects across more than 50 countries, and is known for its expertise in marine engineering and construction. Read More
Solution	Van Oord selected OneStream as their solution for financial consolidation, forecasting, planning, and reporting, and AMCO Solutions as their implementation partner. OneStream’s Extensible Dimensionality® was a key deciding factor, as Van Oord’s projects come in a variety of forms and the data often has multiple dimensions (projects, ships, and departments). OneStream allows for a phased implementation approach so that Van Oord and AMCO could follow a realistic timeline, which is key to a successful build. They kicked off the project focused on consolidation, forecasting, planning, and reporting, followed by high-level project performance management. They are currently extending project performance management to include integration with Van Oord’s ERP. To ensure complete ease of mind, Van Oord ran a full shadow test-run, in which they executed the full quarterly close for actuals and forecast in both the old system Infor MPC and OneStream simultaneously. This gave Van Oord full confidence and acceptance of OneStream. AMCO designed a safe migration path from the previous CPM and scattered Excel environment to the integrated OneStream platform. Read More Log in to view content
Contents

Technology Category

Analytics & Modeling - Predictive Analytics

Application Infrastructure & Middleware - Data Exchange & Integration

Functional Applications - Enterprise Resource Planning Systems (ERP)

Applicable Industries

Construction & Infrastructure

Marine & Shipping

Applicable Functions

Business Operation

Services

Software Design & Engineering Services

System Integration

Training

Challenge

Van Oord operates with a complex structure that is constantly changing and increasingly disruptive. With a finance staff of around 250 people, 200 reporting entities, and averaging 300 active projects across more than 50 countries, the sheer volume of data to manage was a challenge. On top of that, Van Oord deals with various local statutory, fiscal, and reporting regulations. Van Oord’s CPM landscape consisted of Infor MPC for consolidation and Microsoft Excel for data processing, project cost control, and reporting. The result was duplicate data entries and required manual eliminations. Van Oord was operating with multiple versions of the truth. Reconciliation and data quality issues were ending up at business unit and group level for further investigation and solving. Equipment and project specifications were entered as free text, making aggregation and ‘slice and dice’ very difficult. Van Oord wants to transform its finance function to become more lean, agile, and future-proof to adapt to the constantly changing environment. They needed a solution that would easily integrate financial accounting, project cost control, project reporting, and equipment reporting into a single, unified platform.

About Customer

Van Oord is a Dutch family-owned company with over 150 years of experience as an international marine contractor. They specialize in dredging, oil & gas infrastructure, and offshore wind. The company is strongly rooted in the Dutch continuous struggle with water and values innovative and sustainable solutions. Van Oord’s annual turnover is around 2 billion euros, and they employ approximately 5,000 employees. The company operates globally, managing complex projects across more than 50 countries, and is known for its expertise in marine engineering and construction.

Solution

Van Oord selected OneStream as their solution for financial consolidation, forecasting, planning, and reporting, and AMCO Solutions as their implementation partner. OneStream’s Extensible Dimensionality® was a key deciding factor, as Van Oord’s projects come in a variety of forms and the data often has multiple dimensions (projects, ships, and departments). OneStream allows for a phased implementation approach so that Van Oord and AMCO could follow a realistic timeline, which is key to a successful build. They kicked off the project focused on consolidation, forecasting, planning, and reporting, followed by high-level project performance management. They are currently extending project performance management to include integration with Van Oord’s ERP. To ensure complete ease of mind, Van Oord ran a full shadow test-run, in which they executed the full quarterly close for actuals and forecast in both the old system Infor MPC and OneStream simultaneously. This gave Van Oord full confidence and acceptance of OneStream. AMCO designed a safe migration path from the previous CPM and scattered Excel environment to the integrated OneStream platform.

Impact #1	OneStream ensures a faster close and reliable management information.
Impact #2	Actuals and forecasting take place in one single process flow, which is uniform across all reporting entities.
Impact #3	Guided workflows deliver a clear view on the progress of their reporting units during the close cycle, and confirmation rules contribute to data quality management.

Impact #1

OneStream ensures a faster close and reliable management information.

Impact #2

Actuals and forecasting take place in one single process flow, which is uniform across all reporting entities.

Impact #3

Guided workflows deliver a clear view on the progress of their reporting units during the close cycle, and confirmation rules contribute to data quality management.

Benefit #1	Van Oord’s annual turnover is around 2 billion euros.
Benefit #2	Van Oord employs approximately 5,000 employees.
Benefit #3	The finance staff consists of around 250 people.

Benefit #1

Van Oord’s annual turnover is around 2 billion euros.

Benefit #2

Van Oord employs approximately 5,000 employees.

Benefit #3

The finance staff consists of around 250 people.

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Overview

Van Oord's Finance Transformation with OneStream and AMCO Solutions

Operational Impact

Quantitative Benefit