Cimpress

Case Study

Empowering Executives with Rapid Insights and Reduced Complexity

Demo Sign Up

98%

Reduction in Data Load Times

15

Financial Systems Replaced with One Platform

5 Minute

Load & Consolidation Time

Benefits

  • Easily configurable solution that integrates user feedback and extends platform investment.
  • Quick and easy platform upgrades allow more time to focus on analysis and value-add activities.
  • OneStream’s Solution Exchange delivers quick solutions to address user needs as the company grows.
  • Reduced time data loading from a four-hour process to five minutes.
  • Reports are automatically run and pushed out to teams.
  • Cost efficiencies running and maintaining one unified system.

Industry

Mass Customization

Location

Dundalk, Ireland

Solutions

  • Financial Close and Consolidation
  • Financial and Management Reporting
  • Planning, Budgeting and Forecasting
  • Account Reconciliations

Headquartered in Ireland, Cimpress has nearly $3 billion in revenue with approximately 15,000 team members, 100 company codes, and over a dozen brands globally. Cimpress invests in and builds customer-focused, entrepreneurial, mass-customization businesses including Drukwerkdeal, Exaprint, National Pen, Pixartprinting, Printi, Vistaprint and WIRmachenDRUCK.

"My favorite thing about OneStream is really being able to do almost anything. The flexibility of the tool to collect information, and not just financial information it makes it so easy. Whether it's a different addition, a completely new functionality or to enhance the functionality we have. I love not being out there having to say no."

— Michelle Greenberg, Director of Corporate Systems & Processes, Cimpress

1. A Modern, Customizable CPM System.


"OneStream was a perfect fit. I feel like it was built for us." Michelle Greenberg, Director of Corporate Systems & Processes at Cimpress, was tired of telling her team "no" while wrestling with a cumbersome, incohesive finance system. Users across the company wanted increased flexibility in the system to make changes that could drive efficiencies and alleviate the time they were spending on manual tasks.

In the search to find a system that could streamline their financial consolidation, reporting and planning processes, Cimpress landed on OneStream to help transform their financial processes and accommodate user feedback to tailor the system to their needs. Soon Greenberg was able to start saying "yes" much more often.

From a 98% reduction in data load times, to several cost efficiencies, the benefits have been beyond expectations. But for Greenberg, the most valuable benefit is the feedback she's received.

"The best thing for me is I have a lot of happy users. People could not be as productive or innovative as they would like with our old system. We couldn't do anything to really help them. Now my users are happy, which makes me happy."

— Michelle Greenberg, Director of Corporate Systems & Processes, Cimpress

2. Driving Better Business Performance.

Cimpress was using SAP BPC for financial consolidation, reporting, budgeting and planning — with 15 different financial systems to accommodate the company's global brands. The Finance team would upload each system's trial balance into their SAP ERP before loading them into BPC. The disjointed process took over four hours of manual work. The system was expensive to maintain, with regular holding costs and support costs. Cimpress needed a modern system that could handle the data from their global brands and facilitate new acquisitions in the future as the company continues to grow.

To add to the challenge, Cimpress's users were becoming unhappy with the outdated, manual system and leadership knew that a change was needed. The team started their search for a modern solution with new technologies and originally looked into finding a replacement in the SAP space.

After a thorough evaluation process and speaking with customer references, Cimpress was impressed by OneStream's dedication to customer success and determined it was the best solution to match their unique needs.

"We really liked the customer- centric organization. I've never seen a company before where they were insisting that 100% of their customers are referenceable. They gave me a customer list and said, 'You can call anyone' and I did. They proved to us that they could do everything we needed it to do, and it was a perfect fit."

— Michelle Greenberg, Director of Corporate Systems & Processes, Cimpress

3. Reducing Global Complexity.


Cimpress selected Archetype Consulting as their partner and began the implementation process in February 2020. The Covid-19 pandemic hit soon after kickoff, requiring businesses around the globe to shut down. Despite the uncertainty, implementing OneStream remained a top priority for Cimpress and the project continued remotely.

Phase 1 of implementation focused on financial consolidation. Cimpress aggregated its global businesses, with each business's separate sources of data integrated. A direct connect to SAP was created for Vistaprint, Cimpress's largest business. The team also automated all of the compiling of information from Cimpress's different businesses to facilitate internal and external reporting. Cimpress started training users in October 2020 and went live with the November close.

"We went live in November, on time and on budget. It was the first time I've ever implemented a system where we had no showstoppers. It was fantastic. There were no problems. We closed on time, actually earlier, than we had done historically. By Christmas we were ready to start our next project."

— Michelle Greenberg, Director of Corporate Systems & Processes, Cimpress

Phase 2 of implementation focused on planning functionality: budget aggregation, people planning, capital planning, thing planning, and investment planning. Phase 2 was completed April 1, 2021 and Cimpress completed its first budget on OneStream that month. Next was account reconciliations. As part of the overall design, Cimpress built cubes for each of their business units, allowing each unit to load their cube with local data, with the ability to do their own internal reporting in their own planning.

4. Empowering Rapid Insights.


Cimpress's 120 users have enjoyed many benefits and increased agility. The company is continuing to build user feedback into their solution to address user needs, drive efficiencies, and extend the use of the platform.

Upgrades for Cimpress are quick and easy, freeing up time the Finance team used to spend on manual data integration or implementing different modules. Greenberg says, "You log a ticket with support and overnight they upgrade the application. You wake up the next morning and there you go. It's fantastic and easy. So, it enables us to not spend time on maintenance but to spend time on enhancements. Our users are amazed at how quickly we can turn around functionality and how we can really almost exactly do what they ask for." The team no longer needs to spend manual time implementing different modules, and data integration is a straightforward, seamless process.

"The Solution Exchange was also really exciting to us and the fact that we would have this opportunity to replace a number of different applications that we use without any additional license costs— we could really consolidate that footprint. I've probably downloaded every single MarketPlace solution. You go to the website, you click a button to download, and then you click another button in OneStream and it's imported. It's very, very easy and straightforward to use, and they're free."

— Michelle Greenberg, Director of Corporate Systems & Processes, Cimpress

Ultimately, Greenberg is happy that users enjoy the new solution and her team is able to do so much more than they could with their previous solution. Cimpress loads and consolidates data hourly within the close cycle, allowing users to get up to the minute information in the tool. Manual processes have been automated, freeing up time for users to spend on evaluation and analysis. Since going live, Cimpress has seen a significant reduction in the time it takes to load data into the system.

"We used to have a four-hour load and consolidation time with our previous system, and we've got it down to five minutes at the beginning of the year."

— Michelle Greenberg, Director of Corporate Systems & Processes, Cimpress

Reporting was previously done by every single user in BPC, but now users can automatically run standard reports and reports can be pushed out to teams. Cimpress's configured specific status dashboards to allow leaders to see every business and their main tasks in that close cycle, and the Executive Finance team now has insight into where everyone is in the close process.