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Prince's Transformation with OneStream: From Multiple ERPs to Unified Financial Reporting
技术
- 分析与建模 - 预测分析
- 分析与建模 - 实时分析
- 功能应用 - 企业资源规划系统 (ERP)
- 功能应用 - 产品生命周期管理系统 (PLM)
适用行业
- 汽车
- 消费品
适用功能
- 商业运营
- 产品研发
- 质量保证
服务
- 云规划/设计/实施服务
- 软件设计与工程服务
- 系统集成
- 培训
挑战
With processing centers strategically located across six continents, Prince was growing at an exponential rate. Over the last 13 years, they have had 18 acquisitions and today are managing over 25 entities, with more than half outside of North America. There are multiple ERP systems in use across the enterprise, including IFS, Ross, and SAP. To make matters worse, they were relying on Excel to reconcile, translate, consolidate, and report financial information. This led to a general lack of controls, versioning, and audit trails, making it difficult to integrate newly acquired companies into the process. Currency translation was challenging, and there were several issues with data quality. Manual adjustments and the timeliness of data were constant concerns.
关于客户
Prince is a company headquartered in Houston, Texas, specializing in developing, manufacturing, and marketing performance-critical additives for niche applications utilized in various end markets such as construction, electronics, consumer products, automotive, and industrial sectors. With manufacturing facilities and sales offices on six continents, Prince acts as a value-added processing intermediary between large global raw material suppliers and end market customers. The company has approximately 1,300 employees and generates $600M in revenue. Over the last 13 years, Prince has grown significantly through 18 acquisitions and now manages over 25 entities, with more than half located outside of North America.
解决方案
Prince knew they had to implement a better process and began their solution evaluation with presentations from Oracle, OneStream, and Host Analytics. OneStream was chosen for its cost-effectiveness and flexibility. Prince went live with financial consolidation and reporting in just three months and has since continued to add additional capabilities over time. They built an exchange rate interface that is automatically updated daily, followed by automated cash flow calculations. They also created a specialty profitability analysis solution for visibility into customer and product detail across each entity. OneStream provides Prince with the ability to drill-back to the ERPs to understand data at the transactional level. All currency translations are automated, and every data source has a direct connection into OneStream, mitigating data quality issues. Prince is leveraging pre-defined standard reports and has set up dashboards for users to get summary financials, balance sheet, and income statement data.
运营影响
数量效益
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