EPM Consolidation Project: Migration from HFM to OneStream
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Background and objectives mission
An international group that is a leading player in Africa in the import, production, and distribution of products and services had been consolidating the financial statements of its 220 subsidiaries using HFM since 2004. Following Oracle’s announcement that it would soon discontinue support for HFM, the group decided to switch consolidation tools and implement OneStream. The project aimed to provide a clear and transparent view of financial data and to facilitate informed decision-making through the use of next-generation technologies.
approach adopted
The project was carried out over a 16-month timeline, and our scope of work centered on the following areas: integrating the project team as a technical business expert by participating in general and detailed design workshops, testing and validation phases, user training, and providing support during dry runs and go-live exercises; providing expertise on specific projects: redesign of the chart of accounts, historical data migration, IFRS 16, and implementation of the cash flow statement.
Benefits obtained
- Modern, Scalable Architecture : Achieving Better Performance and Managing Data at a More Granular Level
- Scalability of dimensions: Ability to adapt the data structure without modifying the overall application
- Faster closings: Reduction in the time spent on repetitive manual tasks (data collection, intercompany reconciliation, elimination of internal provisions, etc.)
- Traceability and Auditing: Improving Compliance and Confidence in the Numbers Through Comprehensive Data Tracking
- Guided Workflows: Simplifying Data Entry and Validation for Operational Users