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
Spain's First OneStream Implementation
Financial Consolidation for a Global Manufacturer
"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."
“Our confidence in financial results has grown now that we have 100% transparency into data, metadata and process changes that have audit trails and drill back capabilities for complete accuracy and control”
Life with OneStream
With this solution Royo Group were able to automate data loading, re- conciliation and reporting. With meeting deadlines previously a cons- tant nightmare, OneStream 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.