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Endo International Success Story

EndoPharma

About Endo (NASDAQ: ENDP)

Endo International plc is a highly focused generics and specialty branded pharmaceutical company delivering quality medicines to patients in need through excellence in development, manufacturing and commercialization. Endo has global headquarters in Dublin, Ireland, and U.S. headquarters in Malvern, PA. Endo has 3,000 employees and generated $3.5B in revenue in 2017. Learn more by visiting http://www.endo.com.

The Challenge

Endo International (Endo) was using Oracle Hyperion Financial Management (HFM) for financial consolidation and reporting and three instances of Hyperion Planning for planning and forecasting. They were also using Oracle FDM, Essbase, DRM and DRG as well as Host Analytics at one division.

HFM was not being used to its full extent. Because of the fragmented set up products being used, the company had different charts of accounts for actuals vs. forecast, which made it difficult to compare results at period-end. There were lots of reconciliation issues and different levels of detail across scenarios, which created challenges in reporting.

As a result, the Finance team at Endo was under stress, performing a lot of manual work, and had challenges meeting deadlines. In addition, the reporting and planning processes were very centralized at HQ, and communications with remote locations caused further delays. Given Oracle’s lack of investment in the Hyperion products, the Endo Finance team started looking at alternatives.

Selecting OneStream XF

The Endo team evaluated several solutions, including Oracle’s Cloud EPM products, SAP BPC, and OneStream. One of the Finance executives had implemented OneStream at a prior company and had a very positive experience.  Based on this prior experience, its unified architecture, ease of use, flexibility, and limited IT support required - Endo selected OneStream. 

The team also decided to implement the OneStream XF Cloud solution, since this would reduce their IT support requirements. Endo did a “big bang” implementation of OneStream for financial consolidation, reporting, annual budgeting, and quarterly forecasting and went live in November 2017. This “big bang” approach replaced all their Oracle Hyperion products, and Host Analytics.

Aligning Actuals with Budgets and Forecasts

The Endo team saw immediate benefits from having their actual and plans completely aligned in a new system. Remote users were now required to load their own data, enter budgets, and take on more ownership and accountability for their financial results, budgets and forecasts. The system was rolled out to 116 users across HQ and 3 remote locations, spanning the US, Canada, and Ireland. Data from SAP and JD Edwards ERPs are loaded into their SAP HANA data warehouse, then integrated into OneStream. OneStream allows users to drill-through from summary data back to the transaction details in the HANA data warehouse.

The system produces the balance sheet, income statement and actual vs. budget reporting for over 100 entities, across four subsidiaries. In addition to the standard reports, many users leverage OneStream’s Excel Quick Views to generate reports and refresh them on their own.

With a good amount of intercompany activity – OneStream allows intercompany eliminations to run much smoother than before. Data is loaded in local currency at the entity level, then consolidated in US dollars. The Endo team uses the power of scenarios to report on actuals at budget rates and other types of constant-currency analysis.

Endo creates their annual budget in OneStream as well as their quarterly forecast and more summarized 10-year forecast. They implemented driver-based planning for roughly 20 revenue and expense accounts. The tax department also load data, performs tax reporting and journal entries in OneStream.

Reaping the Benefits

Endo has experienced many benefits of the unified OneStream solution. Upgrades have been very smooth – handled by the OneStream Cloud Services team, thus eliminating the technical complexities of the previous on-premise products. 

“Reporting and planning processes take less time and with lower stress levels,” said Nicole Bruno, Financial Systems Manager at Endo. “OneStream has saved us a lot of time in reconciling data between systems. Pulling reports is so much easier to compare actuals vs. budget or forecast. The close process is more efficient and we’re spending less time manipulating data and more time on analysis of the business.”

Ms. Bruno continued, “Thanks to OneStream, the HQ Finance staff are working less nights and weekends. Decentralizing the workflow to remote locations has helped relieve corporate staff so there’s less chaos at crunch time.”

About OneStream Software

OneStream Software provides a revolutionary corporate performance management (CPM) solution that unifies and simplifies financial consolidation, planning, reporting, analytics, and financial data quality for sophisticated organizations. Deployed in the cloud or on-premise, OneStream XF is the first and only solution that delivers corporate standards and controls, with the flexibility for business units to report and plan at additional levels of detail without impacting corporate standards – all through a single application.

The OneStream XF MarketPlace features 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, visit OneStream Software http://www.onestreamsoftware.com or on Twitter @OneStream_Soft.