Taking Over and Stabilizing a Financial Planning Environment in a Global Manufacturing Company
Area of collaboration
Nearshoring
Industry
Production
Tools
Implementation benefits
Stable Financial Planning Environment
More Specialists Within the Same Budget
Scalable System Support
More Efficient Reporting
Improved System Performance
New Planning Features
Improved System Utilization
About the client
A global manufacturing company in the chemicals and industrial ingredients sector. The company operates in multiple countries and serves customers worldwide. Its products are used across a wide range of industries, from consumer goods to industrial manufacturing.
CHALLENGES
Taking Over and Structuring the Financial Planning Environment
After the implementation was completed, the system required stable support and further development. The client was looking for a partner who could take over the environment, organize the way the system was used, assume responsibility for other related tools, and ensure its long-term maintenance.
Taking Over the System After Implementation
The system required a rapid takeover of maintenance and a quick understanding of the existing solution.
Unstructured Collaboration Model
Requests and business needs were submitted mainly via email, without a clear process for managing the work.
Complex Data Structure
The system supported hundreds of entities and thousands of cost centers, which impacted its performance.
Growing Business Needs
The finance team needed new reports and features to support planning.
PROJECT IMPLEMENTATION
System Takeover and Development of the Planning Environment
The collaboration began with taking over the financial planning environment based on OneStream. Our team was responsible for maintaining the system, supporting users, and developing new functionality. At the same time, we worked on improving reporting and system performance.
Step 1
We took over the system from the previous implementation partner. The process included reviewing the documentation and conducting knowledge transfer sessions with the former team. This allowed us to quickly assume responsibility for maintaining the environment.
Step 2
The next phase focused on stable system maintenance and day-to-day user support. We handled requests from the finance team, improved reports, and delivered training on the OneStream Excel add-in. During this time, we also took over support for two reporting applications built in Board.
Step 3
In the following stages of the collaboration, we expanded the system with new features and reports supporting financial planning. Additional analytical models and dashboards were developed. At the same time, we worked on improving the system’s performance.
RESULTS
A Stable and Evolving Financial Planning Environment
The organization gained a stable financial planning environment supporting the day-to-day work of the FP&A team. The system was gradually expanded with new analytical models, reports, and improvements supporting planning and performance analysis. As a result, the finance team could work with data more efficiently and prepare analyses for different areas of the business.
Maintenance of Key Planning Processes
The system supports planning for costs, revenues, and cost of goods sold, as well as EBITDA analysis across the entire organization.
New Analytical Models
The environment was expanded with additional analytical modules, including Cost per Kilo (CPK) for analyzing production costs and Local Product Margin for reporting margins across entities.
Enhanced Financial Reporting
New reports and dashboards were created to support data analysis and compare planning scenarios such as budget and forecast.
Drill-Down Data Analysis
Reports enable quick navigation from aggregated data to detailed performance information.
Improved System Performance
Optimizing the calculation logic improved system performance when working with a complex organizational structure.
Increased Independence for the Finance Team
Business users can prepare reports and analyses directly in Excel thanks to the system’s integration with the Excel add-in.
Maintenance of Additional Reporting Applications
The organization also gained stable support for two reporting applications running on the Board platform.
Why Choose Nearshoring?
Dedicated Team
The organization gains a team of specialists responsible for maintaining and developing the system, as well as supporting the team in their day-to-day challenges.
Continuity of Support
The system remains under continuous support, regardless of project or organizational changes.
Flexible Scaling of Work
The level of support can be easily scaled up or down depending on the organization’s needs.
Specialized Expertise
The team understands financial planning processes and can effectively support business users.
Nearshoring as a Stable Support Model for FP&A Systems
The organization gained a dedicated team of specialists who took over the maintenance of the financial planning environment from the previous partner. The system was placed under continuous support and further developed with new models and reports. As a result, the company was able to continue developing its FP&A environment without disrupting the day-to-day work of the finance team.
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