Financial Consolidation for a Global Manufacturer - Spain's First One Stream Implementation
Size: 900 employees
Industry: Manufacturing & Distribution
About: Royo Group International Bathroom (RGIB) is a leading European company in bathroom furniture. RGIB started from two leaders who teamed up to win in this equation: Royo Group brings the trajectory and experience, whilst HIG provides financial strength, meaning that together they can enjoy a union which provides growth and consolidation.
Technologies: OneStream XF
"Because we needed greater control of our companies."
The Group has grown in recent years, both organically and through acquisitions. This meant that we inherited multiple, non-unified information systems. The result was an increase in process complexity especially with the growing need for data and its procurement. The finance team leaders expressed, "We needed a tool that would streamline our financial close and consolidation while addressing complex global accounting and reporting requirements, as well as providing rapid insights into financial and operating results. We had to address the issue of having to manually prepare more than 130 spreadsheet pages every month to prepare the content needed for the monthly Board presentation."
Life with Onestream
With this solution Royo Group were able to automate data loading, reconciliation and reporting. With meeting deadlines previously a constant nightmare, One Stream continues to help them close faster with pre-and post-load validations, immediate identification of errors and by providing a quick resolution of data quality issues.
"Our confidence in financial results has grown by delivering 100% transparency into data, metadata and process changes with audit trails and drill back capabilities for complete accuracy and control".
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