• Financial Close & Consolidation
• Financial Reporting
• IFRS Reporting
Auchan was particularly interested in OneStream’s Financial Starter Kit, which is a reliable asset to help Auchan easily build an IFRS consolidation engine. To create the next generation retail experience, Auchan Retail places customers at the center of its actions. An activist for healthy, local produce, Auchan aims to constantly reinvent itself to deliver a new customer experience – one that’s close, connected, and considerate.
Battling different sources of the truth with their existing corporate performance management (CPM) application, Auchan wanted a group solution that would easily accommodate consolidation and reporting across dozens of countries in a single platform. Fortunately, Auchan found OneStream, a comprehensive solution to accomplish their initial goals – and more. Today the company can complete ambitious planning with a unique standardization of processes per country, which engrains into a single data model.
“We now have an overview of all our subsidiaries, and this enables us to see in real time where each one stands on its own closing,” said Gonzague Delattre, Head of EPM and Reporting Solutions at Auchan Retail International. “We have implemented a unified process which can be adapted to the retail and property businesses, which have different schedules and charts of accounts.”
The first functional scope for Auchan Retail was to implement a solution for statutory consolidation for 350 users while replacing their existing CPM application. The objective of this transformation was to move forward with a modern, scalable platform, based on unique data. Auchan found that OneStream Software was the only vendor offering a unified platform covering statutory reporting, FP&A, and financial consolidation needs.
As a robust solution capable of managing the volume and global evolution of the Auchan group, OneStream was the clear choice to tackle their unique financial management needs. Ultimately, Auchan was able to create a single environment to manage financial and operational data while merging financial consolidation with streamlined budgeting, planning, forecasting and data collection through a workflow-based process across dozens of countries.
“OneStream’s main contribution to our business has been the implementation of the workflow, helping to guide users on a day-to-day basis,” Delattre explained. “This makes us more professional, gives us greater security and lets us know where we stand.” This workflow has been adapted to suit Auchan’s various business lines (retail and real estate), as well as the different countries, ensuring that local data corresponds to local regulations, while at the same time providing unified global reporting.
Particularly appealing to Auchan was the Financial Starter Kit by OneStream which is a reliable asset to help Auchan easily build a consolidation engine in French “standard.” This aided change management by leveraging a pre-configured solution providing current innovations to consolidation users. With remarkable functionalities from workflow to control, Auchan could ensure their specific statutory needs were addressed from the start.
“The important thing for us, was to include the teams who use the solution in the thought process and the implementation. But also, to focus on what we wanted to do with the solution without adding too many features while getting to grips with it in the early stages.” Delattre continued, “Today the OneStream platform is accessible to our business users worldwide, with support from the IT department if required, rather than a solution managed directly by IT.”
With a unified workflow, Auchan has been able to implement a comprehensive internal process across all 350 subsidiaries. Additionally, the teams at the holding company ELO can produce their consolidation and reporting much more quickly, completing the financial close process in just 5 days.
Above all, a true benefit of the project has been the standardization of business processes. One platform has replaced five outdated applications at Auchan, and the group looks to continue expanding OneStream on the FP&A side across Auchan Retail operating countries. As a result, Auchan has streamlined processes from quarterly to monthly IFRS reporting and has reduced the time to close by one business day.
They can also produce much more comprehensive publications each month, including a complete package comprising of P&L, balance sheet, cash flow, debt, capex management, rolling forecasts, cash position, and more. Every month, the teams save time thanks to the automated reporting, and with data that is auditable since it is reliable thanks to the tool, which clearly identifies where it comes from.
“After a year of use, it is interesting to note that the Finance and Controlling teams talk to each other more often, and now know where to find the information they need, as it is available in one place for everyone.” Delattre concluded. “The teams are fully on board with the solution thanks to the consultation and discussions that took place. Overall, the work has been simplified for all teams, with a clear workflow setting out the steps for everyone to easily follow.”Schedule a Demo