Evoqua Water Technologies is a leader in water and wastewater treatment products, systems and services for industrial and municipal customers. Its comprehensive, cost-effective and reliable treatment systems and services reduce fresh water demand, ensure uninterrupted quantity and quality of water, and enable regulatory and environmental compliance. With a wide range of proven product brands and advanced water and wastewater treatment technologies, mobile and emergency water supply solutions and service contract options, Evoqua helps cities provide clean water and industrial plants to maintain productivity and profitability. Visit Evoqua at https://www.evoqua.com/en. The OneStream™ Solution
“Evoqua implemented OneStream for financial consolidation, reporting, budgeting and forecasting,” says Rahul Nanavati, Director of Financial Systems at Evoqua. “We were able to leverage the consolidation functionality to automate intercompany eliminations in all hierarchies, currency translation and cash flow reporting. We also leveraged the core budget and forecast capabilities to perform forecasts at detailed profit center and cost center levels. Management and external reporting is now standardized with executive dashboards and Guided Reporting as well as our monthly financial reporting book.”
Core requirements revolved around converting an Excel based model to a Financial Reporting system to manage continued growth. There was a significant need for automated and standardized management and external reporting.
Evoqua was looking for a more intuitive financial reporting with consistent results in a more controlled and auditable environment. They required visibility to detailed transactions within data warehouse and SAP. Additionally, they also needed to automate reconciliation between both modules (GLCPA and COPA) of SAP.
“By automating SAP feeds using connectors with drill back capabilities users can now have visibility to detailed transactions within SAP via this reporting tool, something we simply could not accomplish in our previous environment,” says Nanavati. “OneStream delivers more detailed reporting and analytics in one unified product and application.”
Owned by Corporate Finance, OneStream delivers powerful management and ad hoc reporting for corporate HQ and business users. OneStream gave Evoqua the flexibility and auditability for managing financial reporting integration of acquisitions.
Evoqua benefits from the value of one application that can share and extend dimensions to deliver multiple solutions without the technical complexity of having to install, implement, maintain, learn and upgrade multiple products, applications or modules. OneStream’s ability to eliminate multiple Essbase cubes as well as their financial consolidation product has been critical to simplifying the finance systems environment as well as the finance administration requirements. Evoqua has been able to realize the multiple benefits of owning a single product and application while eliminating the technical complexities of their previous solutions.
Having all solutions in a single product means end users have a consistent guided workflow process to follow no matter the process or analytic collection. All solution have similar Guided Workflows allowing Evoqua to deploy new solutions without burdening end users. End users intuitively know how to interact with all solutions to provide the highest level of data quality for every process.
OneStream Software provides a market-leading intelligent finance platform that reduces the complexity of financial operations. OneStream unleashes the power of finance by unifying corporate performance management (CPM) processes such as planning, financial close & consolidation, reporting and analytics through a single, extensible solution. We empower the enterprise with financial and operational insights to support faster and more informed decision-making. All in a cloud platform designed to continually evolve and scale with your organization.
OneStream’s Intelligent Finance platform can easily be extended with over 50 solutions from the OneStream MarketPlace™. These downloadable solutions are fully battle-tested and optimized for the OneStream platform. They allow customers to easily extend the value of their investment to meet the changing needs of finance and operations.
For more information, please visit OneStream Software https://www.onestream.com or on Twitter @OneStream_Soft.
Download the Case Study