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Cleaver-Brooks Success Story

CleaverBrooks

About Cleaver-Brooks

Cleaver-Brooks, a world-renowned provider of boiler room products and systems, is committed to providing efficient solutions that help its customers and the industry reduce energy usage, cost and environmental impact. As the pioneer of packaged firetube and watertube boilers, Cleaver-Brooks is the only manufacturer in the world to offer an entirely integrated boiler room solution for any size application. Its products are backed by a world-class representative network offering superior aftermarket service and solutions. Please visit www.cleaverbrooks.com to learn more.

The Challenge

Cleaver-Brooks manufactures multiple distinctive product types that each require unique accounting, budgeting, and reporting needs. Their financial close process for reporting, budgeting and analysis was painstakingly slow and needed improvement. Additionally, they needed a solution that was owned and managed by the office of finance.

The Business Problem

Cleaver-Brooks was looking for a CPM solution that could streamline their financial processes as well as automate their cash flow and balance sheet budget. It was imperative that it was owned by the office of Finance but allow each business unit to work autonomously using a standard set of reports.

The OneStream XF Solution

Cleaver-Brooks implemented OneStream XF for financial consolidation and reporting, budgeting, forecasting and analysis. OneStream has provided them with a multi-faceted solution in one easy to manage and use model. Each business unit now has the ability to view, close and run their consolidation process independently. The budgeting and forecasting solutions live together and leverage a similar but different dimensional model with a single point of maintenance for all shared dimensions. The budget and forecast is driver based and uses spreading and allocations to speed up the process of producing the budgets and weekly forecasts. With People Planning, Cleaver-Brooks is now able to calculate payroll expenses and calculate labor hours, overtime, etc. per employee. Additionally, reporting used to take an hour now takes only minutes allowing Cleaver Brooks to have more time to deliver value added analytics to the business.

Financial consolidations and reporting results

“We reviewed OneStream Software alongside other CPM providers but quickly realized that other vendors did not have the same functionality that OneStream could provide,” said Michael Barfuss, Corporate Controller, CleaverBrooks.

“We needed something we could manage within our own financial group instead of relying solely on IT. OneStream XF gives us complete autonomy as well as transparency, visibility and drill back capabilities into transactional data. OneStream’s tailored solution has allowed each business unit the ability to take control of their own consolidation, reporting, analysis

All solutions live in one product and one application

There is no substitute for the value of having one application that can share and extend dimensions to deliver multiple solutions without the technical complexity of having to install, implement, maintain, learn and upgrade multiple products, applications or modules.

About OneStream Software

OneStream Software provides a marketleading CPM 2.0 solution, the OneStream XF SmartCPM™ platform. OneStream XF unifies and simplifies financial consolidation, planning, reporting, analytics and financial data quality for sophisticated organizations. Deployed via the cloud or on-premise, OneStream’s unified platform enables organizations to modernize Finance, replace multiple legacy applications, and reduce the total cost of ownership of financial systems. OneStream unleashes Finance teams to spend less time on data integration and system maintenance – and more time focusing on driving business performance.

The OneStream XF MarketPlace features more than 50 downloadable solutions that allow customers to easily extend the value of their CPM platform to quickly meet the changing needs of finance and operations. We are driven by our mission statement that every customer must be a reference and success.

For more information, please visit OneStream Software http://www.onestreamsoftware.com or on Twitter @OneStream_Soft.