Revolutionizing Budget Management for Elite Body Sculpture with MindStream Analytics
In the dynamic realm of medical cosmetics, Elite Body Sculpture has distinguished itself with its next-generation body contouring treatment. Offered exclusively at AirSculpt offices, their innovation promises unparalleled precision and comfort to clients, setting new benchmarks in the industry.
The Challenge:
As pioneers in the cosmetic space, Elite Body Sculpture's administrative backend was grappling with challenges:
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Localized Excel Budgeting: Their existing budgeting process was isolated within Excel spreadsheets, devoid of an interconnected digital infrastructure.
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Time-Intensive Reporting: Extracting meaningful reports became a strenuous task, often consuming inordinate amounts of time and still being error-prone.
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Disjointed Actuals: The system struggled with cleanly basing the budget and forecast on actual figures from their ERP.
The Solution:
Understanding the intricacies of Elite Body Sculpture's challenges, MindStream Analytics put forth a comprehensive plan:
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NetSuite Planning & Budgeting Integration: By implementing this system, inclusive of Standard + Workforce with the Indirect Expense Allocation module, a centralized platform for actuals, budgets, and forecasts was established.
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Revamping Reporting: Complex reporting needs, especially the nuanced requirements for reconciling balance sheet amounts, were addressed. This turned tedious monthly reporting chores into simple, repeatable tasks.
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Direct ERP Integration: Integrating the tool directly with NetSuite ERP meant real-time, accurate reporting became the norm, whether it was actuals, budgets, or forecasts.
Outcome:
Elite Body Sculpture's transformation post-implementation was evident:
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Adoption and Integration: The team smoothly transitioned to the new system. Utilizing SmartView for Office, users could not only view but also input planning-related data. This integration allowed them to enhance ERP data, like adding case counts per subsidiary, making expense allocation streamlined and accurate.
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Modernizing Cash Flow Management: MindStream Analytics redefined their Cash Flow Proof process. What once was an Excel-intensive task morphed into a robust tool-based solution. This blended calculated actuals with manually input data to allocate and document distinct spend categories for each period. The outcome? A detailed cash flow report offering profound insights into the company's financial health.
MindStream Analytics' collaboration with Elite Body Sculpture encapsulates the transformative potential of targeted tech solutions in streamlining administrative processes. By eliminating inefficiencies and injecting accuracy into budgeting and reporting, MindStream ensured that Elite Body Sculpture could focus on what they do best: redefining the contours of cosmetic treatments.
Partner SpotLight
NetSuite SuiteSuccess
NetSuite SuiteSuccess offers a pathway for businesses to succeed by engaging with them continuously throughout their lifecycle. NetSuite delivers a unique set of processes, activities, and systems designed to deliver rapid value. Customers are equipped to make the most of their NetSuite investment quickly and are able to expand towards next-generation solutions to meet changing business needs.
Case Studies
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Alterra
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ATCO Group
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Avalon
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Bayer Health Care
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BluEarth
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Celgene
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Cleaver Brooks
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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
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Flanders
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Foley Products
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Harte Hanks
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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
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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
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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.