Kymera International
Case Study
Corporate Case Study: Streamlining Data Management for Kymera International with OneStream
Kymera International is a specialty materials manufacturing company that produces metal powders for industrial and chemical applications. With ongoing acquisitions and a transition to a new ERP system, Kymera was facing a number of challenges related to data management, consolidation, and security. Their corporate accounting department, responsible for consolidations, needed a solution that could bring together data from multiple sources while ensuring accuracy, security, and ease of use.
Problems Faced
Kymera was struggling with the following issues:
1. Data Load and Mapping: With multiple sources of data and dimensions that needed to be mapped, the process of transitioning to a new ERP system was expected to be a multi-year effort. This required a lot of data manipulation and Excel work to get the data ready for loading into their OneStream platform.
2. Security and Workflow Visibility: With a complex security structure and non-standard management hierarchy due to incorporating structures from different acquisitions, Kymera needed an easy way to visualize and manage processes.
3. Data Consolidation: Consolidating data from different sources accurately to meet auditing requirements was a weak point according to their current auditors during the start of the implementation process.
Solutions Implemented
To address these issues, Kymera partnered with Mindstream Analytics to develop a detailed workflow hierarchy for the various entities, making it easier to apply security measures and meet specific needs. They built-out various data sources to bring in fixed source files, and developed mapping requirements for the data sources to eliminate the need for manual manipulation of the source data in Excel prior to loading data into OneStream. Mindstream Analytics also fixed a ton of mapping issues to capture as many situations as possible, ensuring new accounts could be added smoothly.
Mindstream Analytics recreated cube view reports to establish more consistent reporting standards and eliminate any reports that were not providing value. They also established parameters to allow users to re-use the same cube views but simply toggle them to meet their needs in the workflow process or as standard reviews. In addition, cube views were created for loading statistical data, including product volume reports and headcount reports.
Outcome
Thanks to Mindstream Analytics' assistance, Kymera was able to load all of their data into OneStream and validate it successfully. They were also able to view consolidated results of all their entities in a single location, while new users were able to come in and take over responsibilities with established security and workflow processes. With the ability to drill down and track all data from the top level to the source data, Kymera has been able to improve audit tracking and streamline their data management processes.
"Mindstream put together a well-thought-out plan for finishing our OneStream implementation. The process was very good; they made sure to keep the lines of communication open and were very responsive to any questions or concerns I had. I would definitely recommend them." - Shannon Ramaswami
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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.