Terberg Group implemented OneStream XF for financial consolidation and reporting, budget, data quality management (data collection), treasury cash forecasting and sales reporting.
“The Terberg Group was looking for an integrated platform for financial consolidation and management reporting,” says Ivo Jansen, Corporate Financial Controller at Terberg Group. “Our legacy system was cumbersome and consolidation required multiple manual entries which in turn created a lengthy and inefficient process. With OneStream XF, we were able to standardize and automate our consolidation process and reduce the time needed to generate corporate reports. Our controllers are now able to standardize and create manageable accounts, automate cash flow and leverage OneStream’s core budget and forecast capabilities. OneStream gave us the look and feel we were seeking in one unified product and application.”
Added value of the renewed close process
Speed, flexibility and a higher accuracy are main rivers for the finance organization within Terberg Group. They expect that the intercompany numbers can be settled faster and more efficiently. In addition, it is a simplification of the consolidation process. The current software package still has many manual consolidation steps, but with the new OneStream software Terberg Group will be able to consolidate automatically. This will surely save time. This enables to report the key figures to the board of directors faster and to give more attention to the analysis of the information.
All solutions live in one product and one application
Terberg Group first experiences have been great. The setup of the software is easy. They have already noticed that modifications can be applied quickly, for example moving entities or changing the presentation of the information. The finance organization also greatly benefits from the direct link with the ERP-system. Terberg Group can obtain the figures rapidly. It is already useful during the current implementation process to see whether the correct figures are uploaded. Ivo Jansen responsible for goup controlling already experienced the first update from 3.4 to 3.5, which happened swiftly. The update was completed within an hour.