Terberg Group Success Story

TerbergGroup

About Terberg Group

For over 145 years, the Terberg Group of companies have been active in the specialist vehicle markets. With 28 operating companies in 9 countries, Terberg is one of the largest independent specialist vehicle suppliers, from terminal tractors to cars, conversions to new builds, Terberg leads the way. The Terberg Group have been moving forward with an emphasis on invention, innovation, transformation and value creation. Please visit www.terberggroup.com to learn more.

The Challenge

Create an integrated platform for financial consolidation and management reporting. Speed, flexibility and a higher accuracy were crucial elements during the implementation project.

The business problem

Terberg group was looking to deliver a integrated system to improve multiple finance processes such as consolidation, reporting, budgeting, data submission process and cash forecasting. It was imperative that it was owned by the office of Finance.

The OneStream XF solution

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.

The Future

Terberg expects to have an even more professional financial department, in which they keep improving the reporting process. While the business grows, will move along with the information needs of the business and the board of directors. In the future, they want to maintain this high level of quality, speed and reliability of the reporting in OneStream.

One Product • One Application • Multiple Solutions
OneStream Software is a privately held software company created by the same team that invented the leading financial solutions of the last decade. We provide a unified Corporate Performance Management (CPM) platform which enables the enterprise to solve complex financial consolidation, reporting, budgeting and forecasting with powerful extensibility to enable the deployment of additional analytic solutions. By delivering multiple solutions in one application, we offer increased capabilities for financial reporting and analysis while reducing the risk, technical complexity and total cost of ownership for our customers. We stand behind our mission statement that every customer is a reference and success.

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