Textbook Co-build project At B&S

"One of our goals was to fasten the reporting cycle by one day – from 6 to 5 days," explained Olaf Amerongen, Senior Controller at B&S International, about the choice to implement OneStream. B&S has an ambitious technology agenda. Olaf: "We aim to increase our efficiency; investing in the right technology is a big part of our strategy."

Consolidation system to align with the company's fast growth

B&S has grown significantly during the past years. "The previous consolidation system insufficiently supported our current consolidation processes, partly due to our growth and partly due to the complicated maintenance of that system," continued Olaf. "Over the past 10 years, we doubled the number of entities and valutas used. We now have many administrations to consolidate," explained Hans Kuipers, Concern Controller at B&S International.

B&S has over 2000 employees and a global presence in over 100 countries. The company focuses on solving supply chain complexities, facilitating the availability of branded consumer goods from six focus areas: liquors, beauty, personal care, food, health, and consumer electronics.

One integrated landscape in one platform

The global company could either invest in adapting the current system or implement a new system. After seeing demos by different software vendors, B&S decided to move to OneStream. "To achieve a more efficient process, we wanted one integrated landscape," explained Olaf.

Also, the financial team wanted to make the consolidation processes more user-friendly for the end users. "Over time, the previous system had become a 'black box'; users didn't understand what happened in the system. One of our goals was to engage users and increase understanding," said Hans.

Another goal was more forward-looking. Hans:

"We are moving towards being able to provide more detailed reporting on non-financial data such as ESG (Environment, Social, Governance). We want to integrate sustainability reporting into the financial system."

Expanding the platform step by step

Two significant decisions were made about the project approach. The first decision was to move the model 'as is', while leveraging OneStream capabilities. Hans: "We wanted to establish the baseline for the framework first. Next, we can grow the platform step-by-step."

The team aims to implement additional financial processes as well. "We have started implementing the budgeting processes and want to include the forecasting soon," said Olaf.

Co-build project approach

The second project decision was to use a co-build project approach. "During our co-build approach, we work closely with our client's financial team to implement OneStream. By building the model and the reports together, the key users gain hands-on knowledge of the platform," said Maaike Brouwer, OneStream consultant at Finext.

"We want to be able to support and maintain the system ourselves," Olaf said. "Also because we like the technical aspect of our roles," Hans added with a laugh.

On time and on budget

The co-build approach was successful: the project was completed on time and on budget.

Asked about the key success factors, Olaf said: "We are oriented towards automation. We were cleared from all other activities and could focus on the implementation." "The level of Olaf's and Hans' dedication to the project was exceptional," said Sander Rutten, OneStream consultant at Finext.

Another key success factor was the pragmatic culture of both B&S and Finext. Olaf: "Finext's pragmatism was one of the reasons for choosing Finext as our implementation partner." A third key success factor was the detailed planning. "We wanted to monitor our progress, so that we could adapt if needed," said Olaf.

Engaging end users

The original project plan included a substantial role for the end users: the business controllers would be involved in testing the platform. "Early on, we decided that due to internal developments, that would be asking too much. We decided to test the platform ourselves and release it to the end-users later during the phased go-live. These choices helped to unburden the organization," said Hans.

The change had the additional benefit that there was more time to train the end users. Also, 2-weekly online meetings were held with the end users to discuss updates and choices made. "Involving the end users was another significant success factor," said Hans.

Consolidation Engine

One of the biggest challenges in the previous system was that the consolidation setup wasn’t fully aligned with the current size and structure of the company, resulting in many manual adjustments. To tackle this, the project team dived into every use-case together. This approach ensured that the OneStream consolidation engine could handle all specific use-cases as required.

“We always want to set up a system that is fully maintainable by the client. Due to the level of detail and number of use-cases, the consolidation engine at B&S is complex. By working closely together and using detailed documentation, we are confident that – while complex – the consolidation engine is in good hands with B&S”, said Sander.

Increased efficiency and accuracy

The company is excited about the results. Hans:

"We have an efficient, fluid process that is less time-consuming and more accurate."

The new platform has positively impacted Hans' and Olaf's roles: "Previously, we had to focus on keeping the system stable. Now, we can continuously develop the system further and further."