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BDO Transforms Financial Planning and Reporting with OneStream
Technology Category
- Analytics & Modeling - Predictive Analytics
- Functional Applications - Enterprise Resource Planning Systems (ERP)
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
- Professional Service
Applicable Functions
- Business Operation
- Quality Assurance
Services
- Software Design & Engineering Services
- System Integration
The Challenge
BDO had been using several Oracle Hyperion applications since 2009 to support their planning, reporting, and analysis processes. Over time, their deployment had grown to include three Hyperion Planning applications and nine Essbase reporting cubes spanning ledger data, contracts, employees, projects, demand, and workforce reporting. This complex landscape of applications led to multiple versions of the truth, manual data movement, system stability and availability issues as the data volumes grew, and ongoing maintenance challenges. It was time for a change.
About The Customer
BDO is the brand name for BDO USA, LLP, a U.S. professional services firm providing assurance, tax, and advisory services to a wide range of publicly traded and privately held companies. For more than 100 years, BDO has provided quality service through the active involvement of experienced and committed professionals. The firm serves clients through more than 60 offices and over 650 independent alliance firm locations nationwide. As an independent Member Firm of BDO International Limited, BDO serves multi-national clients through a global network of over 80,000 people working out of 1,591 offices across 162 countries.
The Solution
The BDO team, led by CFO Lynn Calhoun, evaluated several alternatives and selected OneStream as their go-forward solution. OneStream was chosen because it met three primary requirements: scalability, information delivery, and data integrity. OneStream offers a platform that would handle larger data volumes as BDO grows and empowers key decision-makers with accurate information, rich dashboarding, and reporting capabilities. By combining multiple disparate data sets, OneStream creates 'One Source of the Truth' for BDO. The BDO and Finit team launched a multi-phase project in October 2018 that initially focused on implementing OneStream for actuals reporting. In the second phase, they extended the application to support their budgeting and planning process. A key capability delivered as part of the solution was a central landing page for all users, guiding them to each key area of the application and providing critical status information.
Operational Impact
Quantitative Benefit
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