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Henniges Automotive Streamlines Financial Reporting and Improves Profitability Insights with OneStream
Technology Category
- Analytics & Modeling - Predictive Analytics
- Application Infrastructure & Middleware - Data Exchange & Integration
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Automotive
Applicable Functions
- Business Operation
- Product Research & Development
- Quality Assurance
Services
- Software Design & Engineering Services
- System Integration
- Training
The Challenge
Henniges previously used Hyperion Enterprise as a consolidation tool and Hyperion Retrieve for reporting. They also used a home-grown SQL Database for all data loading, integration, and mapping activities. The company wanted a unified solution for all their financial consolidation and reporting, forecasting, and analysis — all maintainable by the same staff that maintained Hyperion Enterprise.
About The Customer
Henniges Automotive provides automotive original equipment manufacturers (OEMs) with sealing systems for doors, windows, trunks, lift gates, sunroofs, and hoods. The company also supplies the automotive market with anti-vibration components and encapsulated glass systems. Henniges sells to all major Automotive OEM customers and operates facilities in North America, South America, Europe, and Asia. The company has 7,700 employees worldwide.
The Solution
Henniges initially implemented OneStream to deliver multiple solutions to meet all their financial reporting requirements in one application. This included corporate financial consolidation and reporting, sales/EBITDA bridging with automated stacking, high-level product profitability, departmental reporting for corporate, automated integration with Plex GL, purchase accounting, and change in control, and conversion to IFRS in 2017. Henniges also had a need for more detailed customer and product profitability analysis and extended their implementation to address these requirements in 2017. This entailed integrating non-GL data and leveraging OneStream to harmonize, store, allocate, and aggregate the data at a detailed (part number) level. The solution helps Henniges perform detailed allocations and produce a summarized P&L (thru EBITDA) for any part, vehicle, product, or customer.
Operational Impact
Quantitative Benefit
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