Replaces Hyperion with a modern platform that can unify and simplify financial consolidation, reporting, planning and analysis
Lucy Group, a diversified international group of businesses operating across several sectors, including Lucy Controls, Lucy Electric and Lucy Real Estate, has digitally transformed financial management worldwide with OneStream Software. By replacing its legacy Oracle Hyperion system with OneStream’s modern, unified platform, Lucy Group has realized significant improvements in financial and management reporting while gaining deeper insight across all business units.
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News: Lucy Group Streamlines #Financial Management Worldwide with @OneStream_Soft
The OneStream platform is easy to use and administer, removing the IT management burdens of its previous system and giving more control back to the finance team. A recent OneStream upgrade was completed within a few hours, compared to days for the previous finance platform.
“OneStream XF has taken a great deal of pressure and workload off group finance, where previously we would have to do a lot of checking the data. The individual users can do it all themselves now, which is obviously a huge benefit to any organization,” said Guy Hill, group reporting manager of Lucy Group.
Single Platform Drives Efficiency
The built-in workflow functionality of OneStream XF has fueled greater insight, tighter collaboration across all units and overall better efficiency. Guided workflows allow the group finance team to see exactly how far each user is within a process, increasing visibility and accountability with a logical step-by-step methodology. Users now load their data directly into OneStream for next-level managerial reviews. Simplifying and aligning corporate performance management processes, the workflow lock notifications tell group finance staff when to take over and process the entered data.
The finance team can now drill down to source data and because everything is on the unified OneStream XF platform, everyone works from the same data with a ‘single source of the truth.’ With OneStream’s strict workflow controls, Lucy Group has been able to standardize finance processes, maximizing confidence through a user-driven approach. Further, the workflows are date stamped with details that now provide Lucy Group with a much-improved audit trail.
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