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Lindsay Corporation Streamlines Financial Processes with OneStream Cloud
Technology Category
- Analytics & Modeling - Predictive Analytics
- Platform as a Service (PaaS) - Application Development Platforms
- Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
- Agriculture
- Construction & Infrastructure
Applicable Functions
- Business Operation
- Quality Assurance
Services
- Cloud Planning, Design & Implementation Services
- System Integration
- Training
The Challenge
As a global company with multiple business units, reliance on Excel® spreadsheets and their Microsoft Dynamics Navision general ledger (GL) for financial consolidation, reporting, budgeting, and forecasting was no longer sufficient. These critical financial processes relied on manual efforts and took too long. Finance executives didn’t have visibility into the right level of operational detail or the impacts of currency rates on their financial results. Getting through the monthly financial close, forecast updates, and preparation for monthly business reviews using their existing tools and processes required a full two weeks—delaying delivery of management information and review of business performance. Business unit (BU) Controllers were spending too much time on data manipulation and not enough on analysis and supporting decision-making. It was time for a change.
About The Customer
Lindsay Corporation, headquartered in Omaha, Nebraska, is a global manufacturer and distributor of irrigation and infrastructure equipment and technology. The company primarily manufactures and markets irrigation equipment used in agricultural markets to increase or stabilize crop production while conserving water, energy, and labor. Additionally, Lindsay manufactures and markets infrastructure and road safety products under the Lindsay Transportation Solutions trade name. The company is publicly traded on the New York Stock Exchange under the symbol LNN. With a diverse portfolio and a global presence, Lindsay Corporation faces complex financial and operational challenges that require robust and efficient solutions.
The Solution
With a preference towards cloud applications, Lindsay Corporation evaluated Oracle’s EPM Cloud applications along with OneStream’s unified platform. OneStream was chosen for its unified approach, ease of maintenance, lower total cost of ownership (TCO), and the ability to capture financial results at the right level of detail. Lindsay implemented OneStream Cloud for financial consolidation and reporting of actual financial results, as well as for budgeting and monthly forecasting. OneStream’s Intelligent Finance Platform collects and consolidates data from 20 different GLs, with eight currencies, and different charts of accounts being mapped to OneStream. The initial implementation was completed in six months, with three months of additional parallel testing before going live in September 2017. Deploying via the OneStream Cloud eliminated the need for internal infrastructure and minimized the amount of IT time required to set up and support the system. This allowed the finance team to be more autonomous, as maintenance and upgrades are easy.
Operational Impact
Quantitative Benefit
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