Terex was using Oracle Hyperion Financial Management (HFM) and Oracle Hyperion Financial Data Quality Management (FDM) for financial consolidation, close, high level budgeting and reporting. For detailed budgets they were relying on several point solutions such as Prophix for one of their segments and Excel for others.
Looking to unify their planning processes, Terex started out evaluating planning applications, with a focus on Oracle Enterprise Planning and Budgeting Cloud Service (EPBCS). Facing a major and costly upgrade of their HFM and FDM applications and realizing there would be a lot of data migrations required to keep HFM and EPBCS in synch, Terex began evaluating OneStream as a unified solution for financial consolidation, close, reporting and all their planning needs.
In evaluating OneStream, Terex saw an opportunity to start fresh, with a single solution for both actuals reporting and planning, with enough detail to accommodate both processes in a single system. With OneStream’s platform they could eliminate painful data administration being performed by the FP&A team, and the Extensible Dimensionality® of OneStream would allow for the elimination of Prophix which was being used for line of business planning.
The Terex team also found that OneStream offered a robust technology solution built on a 64-bit architecture, with multi-threading of calculations, and the ability to be deployed via the Microsoft Azure cloud. In addition, Terex found OneStream’s customer references to be enthusiastic and 100% positive – which firmed up the decision to move to OneStream’s unified platform.