Replaces multiple legacy systems with single, unified OneStream XF platform.
September 18, 2019 05:07 AM Eastern Daylight Time
ROCHESTER, Mich.--(BUSINESS WIRE)--TSG Group (formerly Tokheim Group), a provider of solutions and services to Energy Distribution Networks, is streamlining its finance operations with OneStream Software. The France-based company has replaced multiple legacy finance systems, including SAP Business Objects Financial Consolidation (BOFC) and Oracle Essbase applications with a single, unified OneStream XF platform and is already seeing time-saving advantages.
“The transition from our SAP and Oracle systems to OneStream has been very smooth, and all of the financial controllers are happy. One of the big advantages of the unified OneStream application is that we no longer have a one-day delay between the collection of data and the issuance of reports and analyses. With OneStream all of the data is in one system, so when changes are made, everything is updated immediately,” said Long Nguyen, group CFO for TSG.
Some components of TSG’s existing corporate performance management (CPM) solution were reaching the end of their life cycles and managing multiple finance systems was becoming increasingly challenging. Feeding their Essbase management reporting cubes from SAP BOFC caused data latency, with delays of several hours, making it hard to keep data synchronized. The company explored bringing their finance applications together onto a single platform and selected OneStream for its extensible approach and proven record of customer success.
Working with OneStream partner Inplenion, TSG has migrated all financial consolidation, statutory reporting and management reporting to the OneStream platform in the first phase of the project. The company is currently rolling out budgeting and planning, with flexible modeling capabilities aimed at giving each line of business more control of their budgeting process.
“Another advantage of OneStream is that the financial controllers at each subsidiary can model their budget at the level of detail required for their subsidiary. The extensible dimensionality of OneStream allows us to support corporate standards while also providing relevance to operating units,” said Long.
"With TSG as one of the first OneStream customers in France, our client portfolio now includes several CAC 40-listed companies, as well as many small and medium-sized enterprises, all of which need to successfully address the key challenges raised by the digitalization of the finance function,” said Olivier de Gaetano, managing director of OneStream France. “Our rapid growth in France underscores the strong demand in the market and the ability of our platform and company to deliver 100% success for sophisticated global organizations.”
For more information on OneStream go to www.onestreamsoftware.com
TSG is a worldwide mobility service provider, with the largest sales and service network across Europe and Africa. With over 3,000 engineers and technicians across 30 countries, TSG brings to the Fueling stations, Energy Distribution Networks and Operators its expertise across all types of energy – from traditional fuels, natural gas, to electricity and hydrogen – providing equipment, project, maintenance and a wide range of other solutions and services to support its customers.
About OneStream Software
OneStream Software provides a modern Corporate Performance Management solution that unifies and simplifies financial consolidation, planning, reporting, analytics and financial data quality for sophisticated organizations. Deployed in the cloud or on-premise, OneStream XF is one of the first and only solutions that delivers corporate standards and controls, with the flexibility for business units to report and plan at additional levels of detail without impacting corporate standards – all through a single application.
The OneStream XF MarketPlace features downloadable solutions that allow customers to easily extend the value of their CPM platform to quickly meet the changing needs of finance and operations. OneStream was named to the 2019 Inc. 5000 as one of the top 700 fastest-growing companies in North America.