This article first appeared on the OneStream blog, written by Lauren Ford | July 29, 2021
Mergers and acquisitions are no easy task, and the larger your company, the more complex the integration will be. The are several key components required for a strong and effective merger, but among the most important is the seamless integration of systems and processes. And while there are many business areas to think about, keeping a keen focus on financial processes will be critical to the success of any acquisition.
Terreal is an organization that goes through frequent transformations. After completing three acquisitions over a two-year period, the group realized that their dependency on obsolete finance tools would not provide the consistency and harmonization they need as a rapidly growing organization. That’s why, Terreal decided to embark on a finance transformation journey with OneStream’s intelligent finance platform. Read on to learn more about their unique story.
Stronger Together with Terreal
Terreal specializes in making and selling construction products for building envelopes that meet the challenge of sustainable development. With 33 industrial sites around the world, Terreal provides solutions for roofing, solar, structure, façade and decoration. For over 150 years, Terreal has been operating with the mission to develop local areas and promote beautiful and functional housing that respects both people and the environment. Terreal has annual sales of approximately €626 million and more than 3,300 employees. For more information, please visit https://terreal.com/en/.
A Growing Need for Consistency
With frequent acquisition activity, many of Terreal’s individual entities were operating with significantly different practices and collecting financial information in different formats. Each had their own obsolete finance tools, and many were using Excel spreadsheets with time-consuming and costly manual data collection. Terreal was looking to become a more agile finance organization with faster, more reliable, and consistent financial information across the enterprise. With the arrival of a new finance director, Terreal decided to look for a modern CPM solution which would allow Terreal’s corporate finance team to manage consolidated data and measure the profitability of each entity more efficiently.
Unified, Standardized Processes
Terreal is using the power of the OneStream platform in Finance, Sales and Scheduling departments across locations worldwide. OneStream has delivered Terreal an intelligent finance solution for financial consolidation and reporting, sales reporting, and production planning, all within one unified platform. Improving the monitoring of business performance was a key goal of Terreal and with OneStream the group has been able to increase the reliability of operational reporting and has more control of sales for a vast catalogue of more than 50,000 products. Forecasts are now easily translated into a production budget and because OneStream is connected to the ERPs of the various entities, data can be consolidated efficiently, reliably and quickly for reporting at group scale.
From Complicated to Streamlined
Thanks to OneStream, Terreal has increased the automation of data collection, analysis, and reporting enterprise-wide. What once was a complicated process, is now streamlined with easy and accurate access to data for simplified communication with shareholders, lenders and internal customers. Best of all, OneStream enables the various entities to continue to use their own ERP systems, which aligns with Terreal’s strategy for continued growth.
Terreal now benefits from a unified platform and has gained flexibility and reliability in their data. OneStream has enabled Terreal to produce accurate financial reports and improve the profitability of each production site. By automating the consolidation process, the company was able to reduce its personnel and maintenance costs by replaces various tools previously used for reporting with OneStream.
To learn more about Terreal’s success with OneStream, check out their case study article. And if your organization is ready to embark on a finance transformation journey, contact OneStream today!