Xylem has already achieved many benefits from their OneStream implementation. By integrating 100+ local general ledgers to streamline the submission process for actual data, data load times for some global users decreased from 6-8 hours to 15 minutes.
Prior to using OneStream, Xylem used a manually created 10,000-line journal entry to allocate 3 types of expense categories (GA, COS and Sales & Marketing) across business segments. With OneStream the allocation process is now automated and the 10,000-line journal entry was eliminated. The allocation is run for actual and budget scenarios and allows for more detailed and accurate reporting of operating results.
The new OneStream system also houses weekly flash data for sales and orders. This data had never been available globally in a system prior to OneStream. In addition, the system houses flux analysis for monthly & quarterly variance explanations. OneStream’s out-of-the-box annotation members facilitate
collection and reporting of this data.
“The ability to collect more granular data in OneStream facilitates better, faster business decisions and the confirmation rules built into OneStream ensure data integrity,” said Mark DiMatteo, Sr. Manager CPM Systems at Xylem. “With OneStream we have more time available to spend analyzing data rather than updating data and the flexibility of OneStream provides the ability to respond quickly to changing business needs.”
The Xylem team has also seen a decrease in technical support needs as a result of using OneStream’s unified platform and by deploying via the Microsoft Azure Cloud.