Case Study

Satisfying Complex Requirements with Strategic Alignment Between Finance and Operations

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150+

OneStream Users

25+

ERP solutions to integrate

5+

Solution Exchange Solutions

Benefits

  • Replaced SAP BFC & manual Excel-based processes.
  • Transformed Finance to become true business partners.
  • Replaced manual workloads with automated processes.
  • Gained the ability to understand and steer client profitability.
  • Rolled out critical capabilities for Treasury, including DSO per country/client, sensitivity analysis on FX and treasury planning.
  • Implemented robust internal controls and risk assessments.
  • Helped Majorel become truly global with one single platform easily accessible to all users.

Industry

Business Services

Location

Luxembourg

Solutions

  • Financial Close & Consolidation
  • Planning, Budgeting & Forecasting
  • Reporting & Analytics

Majorel is a global service company specializing in customer experience and business process outsourcing services. Operating globally in more than 45 countries, Majorel employs 85,000 people on 5 continents.

“With OneStream, Finance is autonomous. They can add or make a change without IT's involvement. It's a game changer compared to the past.”

— Lotfi Kabbaj, VP Finance Transformation, Majorel

1. Navigating Complex Circumstances.

Majorel faced a complex set of circumstances. The company was in a carve-out situation from a shareholder after merging with another company to become a standalone Group. Just two years later, Majorel went for an IPO on the Euronext markets.

Amid those circumstances, Majorel had the chance to really think about the core model of the business and then adapt Finance to the business model. This effort led to strategic alignment between the support functions of Finance, the business and Operations.

Before OneStream, Majorel was using SAP BFC. Must of the Finance community was using Excel. Now, both these solutions have been replaced with the OneStream platform. The complexity of requirements and changing support situation for SAP BFC led Majorel to consider its options.

Majorel had complex requirements, including the need for traditional financial reporting. External clients reporting, treasury reporting, operational reporting and service forecasting were also essential. In addition, some tax-specific specialized reports were needed. All these requirements were necessary for actuals, budgets, forecasts, rolling forecasts and other more enhanced scenarios to help the business be both backward-looking and forward-looking. Ultimately, OneStream was selected for its ability to execute on these requirements and support an ambitious transformation journey. Majorel needed to invest in the right technology.

“When we assessed the market, we started with eight vendors. We reduced down to OneStream for the execution of our ambitious transformation journey. We have a big ambition to transform Finance, and we need to invest in the right technology for years afterwards. We are very happy with that decision.”

— Lotfi Kabbaj, VP Finance Transformation, Majorel

2. The Impact of Finance Transformation.

With OneStream, Majorel has now become truly global. One of the business process impacts from OneStream is that Majorel can now steer and better understand client performance. Thus, the company can harmonize its approach to steer the profitability of clients globally, no matter the location. Whether in Mexico, India, Africa or another locale, Majorel can steer profitability in the same way in one platform. Users can access the data and consistently compare profitability for different clients in different locations – and do it in a timely manner with the right granularity. That means users can delve deeply into the data to better understand EBIDTA figures. Plus, users can easily compare forecasts and use the data to explain the business rationale behind the numbers.

“OneStream and the Reporting & Analytics Factory Team have helped Majorel Treasury in a tremendous way: I was extremely enthusiastic at how fast we could build our reports and have them live only a couple of weeks after.”

— Odile Brandstetter, VP Treasury, Majorel

The real value add to Majorel is the transformation – Finance being true business partners is now a reality. Previously, Finance was reporting on the financials. Now, Finance is doing the reporting for the business by using deep analytics. Finance isn’t just collecting the data, either. They’re collecting the data in a consistent, autonomous way with the right quality. They’re transforming this data into insight, into analysis. Then, this actionable information is provided to Majorel’s management – ensuring the results spur transformation deep in the organization.

“Once we started the implementation. It went really fast because that’s what [is] great with a platform like this…you can see results quite quick.”

— Lotfi Kabbaj, VP Finance Transformation, Majorel

3. A Game-Changer at Global Scale.

Majorel experienced significant change and knew more was to come. As a result, the company needed to replace aging legacy technology and many Excel processes that had grown around the organization. OneStream was selected as the unified platform that could take the business forward and help Majorel become truly global. Today, the expansion options continue as this successful transformation remains a game-changer for users.

OneStream is not just for Finance at Majorel.

It’s for the business.