Lucy Group is a privately-owned, international business group whose origins date back more than 200 years when its principal business was manufacturing metal castings. Since then, the business has evolved and steadily expanded into a group comprising four distinct business units: Lucy Castings, Lucy Controls, Lucy Electric and Lucy Real Estate. Lucy Group now employs over 1,400 people across offices and factories in 10 regions and trades in over 60 countries. For more information, visit www.lucygroup.com.
To unify their data integration issues, Lucy Group began evaluating Corporate Performance Management (CPM) platforms for their financial consolidation and reporting needs. The heightened cost and system overhaul required for a Hyperion upgrade were reason enough to look for a replacement.
They reviewed CCH Tagetik, but during their evaluation process there was another name that kept coming up – OneStream™ Software. Lucy Group was in search of a product that would offer more dimensions, and they were fascinated by OneStream. A single solution platform addressing multiple requirements, OneStream eliminates the risk and complexity of data integration, validation and reconciliation between multiple products or applications. OneStream accommodated Lucy Group’s need to access deeply detailed information from each business unit, product group and cost center, within one unified platform.
Lucy Group had been using Oracle Hyperion Enterprise for financial consolidations, budgeting, planning and reporting. Because Lucy Group manufactures and sells across several overseas locations, the organization experiences many of the common complications of very large enterprises. Analyzing data across multiple GL and ERP applications including Dynamics AX, Sage, and more, Lucy Group was relying on a web of several point solutions across each of their four business units. The finance organization was challenged with manually integrating all this data.
After ten years of using Hyperion Enterprise, Lucy Group had enough of the product limitations and lack of visibility into the financial breakdown of business segments. Individual product groups and cost centers were being wedged into larger entity and account structures. They simply could not keep up with management demands for greater insights into financial data in an efficient, accurate, and timely manner. Lucy Group thought about the future of their business, and the need to implement solutions that would help them become a more efficient finance organization for the years to come.
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.
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