HOW OUR ADVISORY SOFTWARE SELECTION PROCESS ALIGNED BUSINESS GOALS WITH THE RIGHT PRODUCT
Sometimes an organization discovers an issue that is actually a symptom of something greater. When Cleaver-Brooks approached MindStream about replacing an outdated business intelligence platform due to a lack of dynamic reporting, MindStream offered Advisory Services for Software Selection . The result? With a holistic view of the system, we discovered the need for increased dynamic reporting was just a symptom. The true remedy was not just a new planning tool, but a broader reporting solution.
With the benefits of software-agnostic perspective and industry expertise, MindStream guided Cleaver-Brooks through a reliable evaluation process that ultimately aligned their business goals with the right product: a unified financial reporting, consolidation, budgeting, and forecasting solution.
THE CHALLENGE: AN OUTDATED SYSTEM FOR A DYNAMIC BUSINESS
Cleaver-Brooks was struggling with a legacy reporting tool that was not set up for dynamic reporting for both Actuals and Planning data. For the organization seeking to plan and manage data faster, a lack of dynamic reporting was creating too much lag time for their dynamic business needs. In their changing manufacturing environment, agility and ease of planning during critical business events, like acquisitions, is key, and a tool that could keep pace became more critical. In addition, the organization thought it knew the product it was looking for, initially seeking expertise on a single vendor. The organization thought that a single planning tool may resolve the issue, but needed more insight.
THE SOLUTION: SOFTWARE SELECTION ADVISORY SERVICES
With a wide variety of practical enterprise performance management implementation knowledge, MindStream recognized what was needed was holistic software selection advisory services to determine not only the ultimate vendor, but all vendors, that could meet their needs. With an unbiased perspective, colored in by a deep understanding of what it takes to implement and maintain technical solutions, we helped the client navigate a sea of enterprise performance management vendors to find those that best met their business and technical requirements, including their initially suggested vendor. The process and deliverables included:
- System analysis & requirements definitions
- Solution assessments, including SWOT matrix on multiple vendors
- Vendor validation, including independent reference checks
- Coordination of demonstrations and proofs of concept for senior management and subject matter experts (SMEs)
- Vendor contract negotiation.
After a system assessment, it was determined the key requirements of the new tool included:
- Functional Ownership. Ideally, the solution could be owned and maintained by the business, with minimal IT support.
- Real-time Analysis. The ability to forecast on the fly was important to replacing a manual process that used to take days.
- Adaptability. A tool's ease of data Integration with thirdparty systems was important internally, as well as the ease of integrations of new mergers & acquisitions.
- User Experience. Ease of use, ease of maintenance, and ease of training; ease of finance users to add/upload data.
THE RESULTS: AN UNANTICIPATED RECOMMENDATION
With our methodology, MindStream helped Cleaver- Brooks recognize that their divisional Controllers needed better Actuals reporting, as much as Corporate needed better budget and forecast reporting. This significantly changed the course of evaluations toward the final solution. Ultimately, the client chose a solution that was beyond their initial consideration.
Leveraging MindStream's insight at the intersection of Finance and IT, we were able to provide Cleaver- Brooks a trustworthy software selection process. Cleaver-Brooks was assured they achieved a solution that gave it the autonomy and capabilities it sought in a unified tool when it chose OneStream software, an unexpected ending to a thorough evaluation.
Partner SpotLight
OneStream CPM
OneStream aligns to your business needs and changes more quickly and easily than any other product by offering one platform and one model for all financial CPM solutions. OneStream XF employs Guided Workflows, validations and flexible mapping to deliver data quality confidence for all collections and analysis while reducing risk throughout the entire auditable financial process.
Case Studies
Accumen
Thanks to the intervention of MindStream Analytics, Accumen's Finance department can now model their business with a new, more organized structure that isn't conventionally available in NetSuite.
Acme Brick
Acme Brick turned to MindStream Analytics for help implementing OneStream to replace their outdated TM1 solution.
Alterra
Alterra sought the expertise of MindStream to address the challenges they faced in their Capital Planning process.
ATCO Group
Energy conglomerate ATCO operates worldwide in utilities, power generation, and related services.
Avalon
Working with MindStream Analytics, Avalon Healthcare Solutions adopts NetSuite Planning and Budgeting to accelerate budgeting and forecasting processes.
Bayer Health Care
Bayer Healthcare implemented Hyperion Planning and Workforce Planning in 10 weeks to dramatically streamline their Income Statement budget and Workforce Planning process..
BluEarth
MindStream Analytics' partnership with BluEarth Renewables epitomizes the power of technology and collaboration.
Celgene
An Oracle Hyperion Planning Upgrade provides multi-national organization Hyperion Application optimization and stabilization.
Cleaver Brooks
OneStream XF was chosen as the platform that would transform Cleaver-Brooks' Finance processes.
CoorsTek
The collaboration between CoorsTek and MindStream resulted in significant improvements in CoorsTek's financial consolidation and reporting processes.
Elite Body Sculpture
MindStream Analytics' collaboration with Elite Body Sculpture encapsulates the transformative potential of targeted tech solutions in streamlining administrative processes.
Enlyte
Enlyte, a merger of Mitchell, Genex, and Coventry, faced challenges with disparate financial solutions and the need for combined reporting.
Flanders
MindStream Analytics collaborated with Flanders to implement OneStream Consolidation and Reporting solution.
Foley Products
Foley Products was facing a significant challenge with its Excel-based actual management reporting system.
Harte Hanks
The collaboration between MindStream Analytics and Harte Hanks culminated in a highly customized, user-friendly NetSuite implementation.
Interface
Interface used a complex, manual, excel-based FP&A process for monthly review, and the summary data was loaded in OneStream.
Kymera International
Thanks to Mindstream Analytics' assistance, Kymera was able to load all of their data into OneStream and validate it successfully.
MacLean Fogg
MacLean-Fogg partnered with MindStream, a leading implementor specializing in modernizing and optimizing enterprise systems.
MEPPI
MindStream's expertise and experience were sought to conduct a vendor selection initiative focusing on MEPPI's F2023 planning process.
OUAI
MindStream Analytics and OUAI's collaboration showcases the transformative power of strategic technological intervention.
Plaskolite
By migrating to OneStream, Plaskolite has achieved a material reduction in consolidation time and overall Financial Close cycle, eliminated the hours spent compiling and verifying data in Excel, streamlined its Planning, Budgeting and Forecasting model and delivered flexible and timely reporting that enables more strategic analysis of their financial data.
Redwire
Understanding the nuances of Redwire's challenges, MindStream Analytics devised a holistic approach to overcome them. The implementation of NetSuite was just the beginning.
Simon
Simon's existing corporate Hyperion Financial Management (HFM) production application was consolidating at a rate of seven hours, a performance issue causing great headache to corporate Accounting.
Source Code
The successful transition to OneStream revolutionized Source Code's financial reporting.
Subway
Subway collaborated with MindStream Analytics for the NetSuite Analytics Warehouse implementation.
UPenn
MindStream Consulting and AppCare team members are proud be working side by side with UPenn university in accomplishing this implementation and along with continuing our AppCare services after go-live.
USG
USG was an Oracle Hyperion customer realizing that it needed more specialized support for its various Oracle Hyperion applications.
Vantiv
Dividing a hyperion planning application, expanding the hyperion footprint to forecast on the business? Customer categories.
Versant Health
Versant Health engaged MindStream to help resolve the challenges they were experiencing with their consolidation, close, and financial reporting processes.
Virginia Spaceport Authority
The MindStream team implemented the Standard + Workforce NetSuite Planning & Budgeting.
WeWork
MindStream Analytics determined that the best solution was to implement Oracle Essbase Cloud as part of the Oracle Analytics Cloud (OAC) platform-as-a-service
WindStream
Innovative use of essbase to streamline and connect hyperion financial management for enhanced financial analysis.
XY Planning
MindStream Analytics, well-versed in addressing such challenges, presented a comprehensive Netsuite solution for XY Planning.