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Case Studies > Reunert Limited Implements OneStream for Financial Consolidation and Reporting

Reunert Limited Implements OneStream for Financial Consolidation and Reporting

Technology Category
  • Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Functions
  • Business Operation
Services
  • Software Design & Engineering Services
  • System Integration
  • Training
The Challenge
Reunert Limited faced significant challenges with their outdated SAP BPC system, which was costly to maintain and unable to meet the evolving business needs without a major upgrade. The finance team relied heavily on Excel for financial and management reporting, and the system lacked sub-consolidation capabilities. Intercompany transactions took two weeks to reconcile at year-end, and the system required extensive manual work for half-year financials and segment reporting. Upgrading SAP BPC was estimated to cost $4M USD and take up to three years, prompting Reunert to seek alternatives.
About The Customer
Reunert Limited is a diversified group managing businesses in Electrical Engineering, ICT Services, and Applied Electronics. Established in 1888, the company has significantly contributed to the South African economy and operates primarily in South Africa, with smaller operations in Australia, Lesotho, Mauritius, the USA, Zambia, and Zimbabwe. Reunert is listed on the JSE and has over 6,600 employees, generating more than 10Bn ZAR in revenue. The company’s headquarters are located in Woodmead, Johannesburg, South Africa.
The Solution
Reunert selected OneStream after a thorough evaluation process involving six vendors. OneStream was chosen for its pre-built functionality and the ability to address Reunert’s challenges effectively. The implementation was carried out in stages, starting with financial consolidation and reporting, followed by budgeting and forecasting. The solution spans 80 legal entities and six currencies, supporting 20 consolidated reporting entities. The implementation was completed in ten months for consolidation and reporting, and six months for budgeting and forecasting. The deployment involved 128 users across various regions, including Zambia, Sweden, the USA, and Australia.
Operational Impact
  • The implementation of OneStream has significantly improved the efficiency of financial operations at Reunert. The finance team can now perform intercompany eliminations monthly and in one day, compared to once per year with SAP BPC. Group consolidation that used to take 12 working days is now completed by the seventh working day, allowing the finance team to deliver information to group executives well in advance of monthly management meetings.
  • Finance staff across Reunert’s portfolio companies can submit their supplemental detail much faster and easier than before. At the group level, there is increased visibility into which subsidiaries have submitted their data, and the ability to drill down into journal details. When submission issues arise, the team can quickly address data loading issues by picking up the source files.
  • The unified platform supports both actuals and budget, ensuring 100% accuracy in the annual budget through intercompany eliminations. The application also includes cash flow forecasting based on movements in bank balances, providing a comprehensive financial management solution.
Quantitative Benefit
  • Intercompany eliminations reduced from two weeks to one day.
  • Group consolidation time reduced from 12 days to seven days.
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