Nutranext was acquired by The Clorox Company in April 2018. Founded over 30 years ago as Nature’s Products, Inc., Nutranext, LLC (“Nutranext”) is a leading manufacturer, distributor, and marketer of dietary and nutritional supplement products. Our manufacturing expertise includes solid dose, softgels, gummies and powders and our brand portfolio consists of market leaders in their respective categories. A company that has always stayed ahead of the curve, Nutranext insists on excellence at every company in its network. Our portfolio of brands include: Rainbow Light®, NeoCell®, Natural Vitality®, Champion Performance®, Sedona Labs®, Stop Aging Now®, True Health® and Blessed Herbs®.
Nutranext needed to replace numerous Excel models with a single point of data entry for reporting. They desired integration to their SAP source system so they could have more timely reporting. There was a lot of pain around Cost of Goods Sold and Revenue Planning and they were seeking a solution that would provide real insight, thus allowing for better decision making.
INDUSTRY
R&D, Manufacturing, Packaging, Logistics
REVENUE
$38m
FORMER EPM
Excel
EVALUATED
Anaplan, Hyperion
BENEFITS SUMMARY
- Driver Based Revenue and Cogs planning provided real insight for decision making during uncertain times.
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Planning & Forecasting, People Planning, Capital Planning, Data Analytics
Complex solution for digital finance transformation including:
• Rolling Forecast (Accordion Style)
• Revenue Demand & COGS Planning Model
• Personnel Planning Model
• OPEX / P&L driver-based input cube views
• Corporate Allocations
• Operating Metrics & KPI’s
• Bridge Reporting
• Developed detailed revenue model including Profit Center, Customer, Product/SKU/Unit and Account
• Capital Planning used for input of new assets and development of depreciation schedules
TECHNOLOGY & INTEGRATION
SAP & ADP
BUSINESS CHALLENGES
- Needed a single point of data entry for reporting and a system to replace excel models
- Desired direct integration to their SAP source system
- Cost of Goods Sold and Revenue Planning were areas of needing improvement and required deeper insight for decision making on cost of goods sold and revenue planning.
SCOPE
Planning & Forecasting, People Planning, Capital Planning, Data Analytics
Nutranext now has a modern, unified CPM Solution that replaces numerous Excel models with a single point of entry for reporting.
The implementation delivered real-time reporting, allowing for trust in the data and the ability to make transparent changes during the planning process.
With driver-based revenue and cogs planning, Nutranext is now able to gain real insight for decision making.
The integration of key source systems, such as SAP, Manufacturing data, ADP, and Excel, gave Nutranext the ability to drill back to the invoice level of key systems and avoid the need to update multiple systems when changes occur.
Via OneStream “bursted” reporting Nutranext can now send reports directly from the solution and provide executives visibility with the creation of dashboards and guided reporting.
Black Diamond is the leading Digital Finance Transformation firm and OneStream Platinum Partner. We leverage the depth of experience and breadth of knowledge to define client needs. We are industry Experts who anticipate current and future challenges and share our experience and knowledge to address them. We seek to have joint development of the solutions we create and remain engaged with clients throughout the entire transformation journey to ensure the greatest value is derived.
Black Diamond Advisory is based in Golden, Colorado. Our Advisory and Consulting Experts are located throughout the United States and are deployed to each customer location to provide hands-on support through the duration of the implementation process. For more information, visit www.blackdiamondadvisory.com or on LinkedIn at https://www.linkedin.com/company/blackdiamondadvisory
