Renewable Energy Group is a global producer and supplier of renewable fuels like biodiesel and renewable diesel, renewable chemicals and other products. www.regi.com
REG had a complex excel – multi-tab process for Planning. The process was lengthy and prone to human error.
REG’s forecast process did not include drivers and it did not provide projections at the detailed levels desired.
Planning for people was a cumbersome process and required more visibility.
Capital Asset Planning was lacking integration with the balance sheet, income statement, and cash flow reporting. REG needed to integrate financial budgets and plans with workforce, projects, sales, cash, and other operational plans to ensure alignment across the enterprise.
Account reconciliations was a manual process with too many steps and opportunity for error.
INDUSTRY
Energy
REVENUE
$2.158b
FORMER EPM
Hyperion Financial Management (HFM), Excel
EVALUATED
Oracle Cloud EPM
BENEFITS SUMMARY
- Implemented and automated, driver-based, rolling forecast, leveraging OneStream’s extensible dimensionality.
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Rolling Forecast, People Planning, Capital Planning, Long-Range Planning, Account Reconciliation
- Implemented an automated driver based rolling forecast leveraging OneStream’s extensible dimensionality. Created sub cubes to feed into the overall process for greater granularity.
- Utilized the OneStream Marketplace People Planning solution to capture employee details.
- Built a Capital Asset planning sub model that dynamically integrates with the income statement, balance sheet and cash flow.
- Converted account reconciliations from manual processes into automated
workflow streamlining the process to save hours per person.
TECHNOLOGY & INTEGRATION
JDE, Excel, ADP, HFM
BUSINESS CHALLENGES
- Needed automated a driver based rolling forecast
- Desired greater visibility into labor models and to be connected directly to HR System
- Wanted to create accurate asset records on balance sheet, showing the profitability, and the financial position of the business
SCOPE
Rolling Forecast, People Planning, CP Planning, Long Range Planning, Account Reconciliations
Black Diamond implemented automated driver based rolling forecast leveraging OneStream’s extensible dimensionality. This view afforded REG greater granularity in their view of the data, thus, providing timely decision making and the ability to pivot and adjust in near real time.
OneStream allowed users to self-configure forecast view to leverage what if analysis, and confidently maintain the necessary audit trail.
OneStream XF Markeplace solution for people planning allowed greater visibility into labor models and connected directly to ADP.
The implementation for capital asset planning created accurate asset records on REG’s balance sheet, showing the profitability and the financial position of their business at any point in time. REG was able to create accurate profit and loss reporting and increase goodwill and positive attitudes towards its business.
Black Diamond is the leading Digital Finance Transformation firm and OneStream Diamond Partner. We leverage 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
