Financial Consolidation for a Global Manufacturer - Spain's First OneStream Implementation

Size: 900 employees

Industry: Manufacturing & Distribution

About Royo Group:Leading European manufacturer of bathroom furniture, RGIB is the result of merging Royo Group and HIG – two market pioneers combining the track record, experience, and financial strength.

Extended CPM Team: CIS Consulting

Technology: OneStream

"Because we needed greater control of our companies"

Due to its expansion, both through mergers & acquisitions as well as organic growth, the Group inherited multiple non-unified information systems. Given the increasing complexity of processes, linked to the growing need for data, it was essential to streamline the financial close and consolidation. The finance team leaders needed a tool that could meet complex global accounting and reporting requirements, and provide rapid insights into financial and operating results. We had to address the issue of manually preparing over 130 spreadsheets every month to generate reports for the Board.

Life with Onestream

With OneStream, Royo Group has automated data ingestion, reconciliation and reporting. In addition to being able to meet deadlines that was previously a constant nightmare, the company now benefits from a more agile financial close with pre- and post-ingestion data validation, quick error identification, and fast solution to any data quality needs which may arise.

"Our confidence in financial reporting has grown dramatically; we have gained complete transparency of data, metadata, and process changes with audit trails and drill-back capabilities that ensure accuracy and efficiency."
 
Nicolás Salvador, CFO

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