2 Days
Saved off monthly close cycle
Simplified
Group repository management
De-siloing
of the Reporting/Consolidation team
Benefits
- Increased granularity of financial consolidation
- Simplified data entry process
- Agility and flexibility
- Unification of all reporting databases
- Monthly closing cycle reduced by 2 days
Industry
Wines & Spirits
Location
Paris, France
Solutions
- CPM
- FP&A
- Financial Close and Consolidation
- CSR Reporting
With 50 consolidated companies worldwide, Rémy Cointreau, a French family group whose roots date back to 1724, has established itself as a global leader in the production and distribution of premium spirits. Its portfolio of exceptional brands notably gives it the third largest position in the international cognac market.
"With OneStream, all monthly financial reporting elements are extracted faster and more reliably. Overall, implementing OneStream has saved us two days in the monthly reporting process."
- Véronique Gerbod, Group Finance & Reporting Director at Rémy Cointreau
1. A Strategic Shift Towards a Unified Solution.
Rémy Cointreau was facing functional and technical obsolescence of its financial consolidation tool, and the increasingly complex maintenance of its management reporting databases due to a multitude of tools and applications. The application suite handling consolidation and monthly reporting, as well as forecasting cycles, had been built in successive layers based on evolving needs.
Rémy Cointreau chose OneStream to support the new ambitions of the company and the finance department. This major project was designed to simplify systems, streamline exchanges, and increase the reliability of consolidation and financial reporting while maintaining a high level of solution management autonomy.
“Our main objective was twofold: to optimize the fluidity of our financial reporting while preserving all of our existing functionalities. We were looking for a solution that would not only streamline our workflows, but also make our entire financial environment more intuitive and easier to understand for all our teams.”
- Véronique Gerbod, Group Finance & Reporting Director at Rémy Cointreau
2. A Tailored Platform Rollout.
Rémy Cointreau was looking for a flexible solution for its financial reporting to modernize the existing environment and also to expand its functional coverage to related areas such as CSR (Corporate Social Responsibility) indicator modeling, tax reporting, and foreign exchange impact analysis.
OneStream emerged as the ideal choice thanks to its technical architecture, which allows for granular data integration by product, business unit, and customer. This analytical depth was a determining factor for the group, whose strategic objective was to gradually migrate historical data while maintaining existing accounting principles, in order to improve process flow, secure data reliability, and increase operational efficiency.
3. Measurable Gains in Reliability, Agility, and Strategic Management.
“Previously, teams had to feed different reporting databases from several separate files, which required time-consuming and tedious reconciliation.”
- Véronique Gerbod, Group Finance & Reporting Director at Rémy Cointreau
Since migrating to OneStream for real-world data processing, data integration has become automated and seamless, unifying information sources and significantly reducing manual processes. Each month, the entities generate a single file, ensuring greater reliability and audit traceability of reporting data.
Financial consolidation has become more refined and precise, facilitating extremely detailed monthly analysis across multiple analytical axes: business unit, product, distribution channel, customer, and country. The sophisticated calculations of currency impacts and inventory margins integrated into OneStream have also improved our understanding of variances.
Finally, the company has gained agility and adaptability: OneStream offers the flexibility to add new features and cubes without impacting the existing application structure.
"Working on a unified platform has allowed us to increase our versatility: team members are now interchangeable and manage all projects, whereas previously we operated in silos."
- Véronique Gerbod, Group Finance & Reporting Director at Rémy Cointreau
4. Key Factors for a Successful Project.
The success of Rémy Cointreau's project is due to organizational, technical, and human factors. The finance department opted for a phased approach to migrating its applications to OneStream, starting with the processing of actual data (monthly consolidation cycles for the "revenue flash," income statement, balance sheet, and cash flow statement). The migration of the forecasting components (budget preparation and various re-forecasting cycles) is currently underway. This phased strategy limits risks and integrates feedback as the project progresses, even though it requires maintaining the old environment until the migration is complete.
On the human level, the company chose to rely on its internal resources, favoring skills transfer rather than team renewal in order to preserve existing expertise. The approach was resolutely collaborative, with broad involvement of departments in budget construction and configuration of the solution, which facilitated adoption of the new tool.
"This unifying project allowed us to rally the team around a functional tool shared by all."
- Véronique Gerbod, Group Finance & Reporting Director at Rémy Cointreau
