2-3 Days
to complete the close process.
Faster
data processing times with a direct connection from SAP R3 ECC
10
consolidated financial statements created monthly to streamline the close.
Benefits
- Streamlined financial operations, improved efficiency, and gained valuable insights.
- Ability to create customized reports to improve the auditability and validity of financial reporting.
- Platform is able to adapt to changing business requirements.
- Completing the close process in just two to three days.
- Multiple additional solutions downloaded from the Solution Exchange.
- Increased efficiency in month-end closing.
- Eliminated manual data entry and ensured the accuracy of financial data.
- Supports multiple currencies and offers automated currency translation capabilities.
Industry
Transportation and Construction
Location
São Domingos de Rana, Portugal
Solutions
- Financial Close and Consolidation
- Financial Reporting
Brisa AUTO-ESTRADAS DE PORTUGAL, S.A. is a leading infrastructure company that has played a key role in financing, definition, construction and operation of the motorway network that covers the main highways in Portugal.
With a vision to innovate and adapt to changing organizational structures, Brisa recently embarked on a journey to modernize their financial operations with a dynamic and flexible corporate performance management (CPM) solution.
“We chose OneStream, because it seemed to us to be quite dynamic and flexible to respond to our needs. Also because it allowed us to reach the source document, something we did not see in other systems.”
- Tiago Sequeira, Financial Contoller, Brisa Group
1. A Solution to Stay Ahead.
Brisa's previous CPM tools were no longer meeting their needs. The outdated and unsupported system SAP R3 ECCS was holding them back from staying ahead of the curve. Tiago Massano Sequeira, a key decision-maker at Brisa, understood the importance of a modern CPM solution that could respond to their needs and provide real-time visibility into financial data.
After evaluating various options, Brisa chose OneStream due to their dynamic and flexible nature, as well as their ability to reach the source document.
"Throughout the implementation process, we learned several valuable lessons. Firstly, the better the metadata is defined, the more robust the solution will be. This emphasizes the importance of taking the time to accurately define and organize financial data, as it can have a significant impact on the accuracy and efficiency of the consolidation process."
- Tiago Sequeira, Financial Contoller, Brisa Group
Brisa also learned the importance of involving stakeholders in the development and implementation process. By involving key decision-makers and end-users, Brisa was able to ensure that the solution met their specific needs and was able to adapt to changing business requirements. Sequeira also highlighted the importance of training and support resources to ensure that users are able to effectively utilize the platform and gain the full benefits of their investment.
2. Simplifying the Consolidation Process.
Brisa has significantly enhanced its consolidation process with faster processing times in OneStream. With four consolidation hierarchies and ten monthly consolidated financial statements, they have been able to complete the process in just three days, sometimes only 2!
"OneStream's ability to easily adapt to organizational changes and provide real-time visibility into financial data has been a game-changer for Brisa."
- Tiago Sequeira, Financial Contoller, Brisa Group
Brisa can now retrieve data from their existing systems, such as SAP R3 ECC, and load it into OneStream through a connector. This has eliminated manual data entry and ensured the accuracy of their financial data.
In addition, Brisa is utilizing drill-back functionality to see data loaded in the workflow from their source systems. This has improved the transparency and accuracy of their financial reporting, as well as providing Brisa with the ability to quickly and easily respond to regulatory requirements.
Moreover, OneStream's consolidation functionality simplifies intercompany activity and currency translations. The platform supports multiple currencies and offers automated currency translation capabilities. This has enabled Brisa to streamline their consolidation process and ensure accuracy in their financial reporting.
3. Extending the Value of OneStream.
The OneStream Solution Exchange provides more than 75 solutions customers can download, configure and deploy to easily extend the value of the OneStream platform. Brisa leverages the Guided Reporting solution, which has been easy to implement and use. This solution has empowered Brisa to create customized reports that meet their specific needs, enabling them to gain insights into their financial performance and make data-driven decisions.
The Guided Reporting solution also provides Brisa with the ability to drill down into their data and gain visibility into the underlying transactions. This has improved the auditability and validity of their financial reporting, as well as providing Brisa with the ability to quickly and easily respond to regulatory requirements.
Brisa's end-users have also embraced the OneStream Excel Add-in for reporting and analysis. This tool has revolutionized how Brisa uses spreadsheets, eliminating the need for manual adjustments. Instead, spreadsheets are used to obtain information through the Excel add-in, which provides a seamless integration with OneStream and allows users to easily access and analyze financial data.
“In our case, the number of spreadsheets didn't decrease, because spreadsheets are undoubtedly an excellent tool, but it changed how we used them. The Excel Add-In is my favorite functionality.”
- Tiago Sequeira, Financial Contoller, Brisa Group
The Excel Add-in also enables Brisa to create customized visualizations, allowing them to gain insights into their financial performance and make informed decisions.
4. An Evolving Success Story.
Brisa's finance transformation journey has been a success. The company has been able to streamline their financial operations, improve efficiency, and gain valuable insights into their financial performance. Still, Brisa is committed to continuously improving their financial operations and leveraging the capabilities of OneStream to achieve their goals.
By choosing OneStream, we as a company have invested in a modern and flexible CPM solution that will support our growth and enable us to adapt to changing business environments.
- Tiago Sequeira, Financial Contoller, Brisa Group
Throughout the implementation process, Brisa learned several valuable lessons that will benefit them as they continue to leverage the capabilities of OneStream. By taking the time to define their metadata accurately, investing in training and support resources, and involving stakeholders in the development and implementation process, Brisa has set themselves up for success in their financial operations.
