Brisa

Brisa now closes their actuals in just 3 days,sometimes only 2!

The Challenge

Brisa's previous CPM tools were no longer meeting their needs. The outdated and unsupported system SAP R3 ECCS was holding them back from staying ahead of the curve. Tiago Massano Sequeira, a key decision-maker at Brisa, understood the importance of a modern CPM solution that could respond to their needs and provide real-time visibility into financial data.

The Solution

After evaluating various options, Brisa chose OneStream due to their dynamic and flexible nature, as well as their ability to reach the source document. The implementation was carried out by Diamond partner AIQOS, and the go-live occurred in December 2022.

Key Features and Benefits

Consolidation

Brisa has significantly enhanced its consolidation process with OneStream. With four consolidation hierarchies and ten monthly consolidated financial statements, they have been able to complete the process in just three days, sometimes only 2! OneStream's ability to easily adapt to organizational changes and provide real-time visibility into financial data has been a game-changer for Brisa.

Moreover, OneStream's consolidation functionality simplifies intercompany activity and currency translations. The platform supports multiple currencies and offers automated currency translation capabilities. This has enabled Brisa to streamline their consolidation process and ensure accuracy in their financial reporting.

“We chose OneStream, because it seemed to us to be quite dynamic and flexible, to respond to our needs, and also because it allowed us to reach the source document, something we did not see in other systems.”
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Tiago Sequeira | Financial Contoller | Brisa Group

Guided Reporting

Brisa leverages the Guided Reporting solution from the OneStream XF Marketplace, which has been easy to implement and use. This solution has empowered Brisa to create customized reports that meet their specific needs, enabling them to gain insights into their financial performance and make data-driven decisions.

The Guided Reporting solution also provides Brisa with the ability to drill down into their data and gain visibility into the underlying transactions. This has improved the auditability and validity of their financial reporting, as well as providing Brisa with the ability to quickly and easily respond to regulatory requirements.

Excel Add-in

Brisa's end-users have embraced the OneStream Excel Add-in for reporting and analysis. This tool has revolutionized how Brisa uses spreadsheets, eliminating the need for manual adjustments. Instead, spreadsheets are used to obtain information through the Excel add-in, which provides a seamless integration with OneStream and allows users to easily access and analyze financial data.

The Excel Add-in also enables Brisa to create customized visualizations, allowing them to gain insights into their financial performance and make informed decisions.

“In our case, the number of spreadsheets didn't decrease, because spreadsheets are undoubtedly an excellent tool, but it changed how we used them. The Excel Add-In is my favorite functionality.”
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Tiago Sequeira | Financial Contoller | Brisa Group

Data Integrations

Brisa's OneStream solution retrieves data from their existing systems, such as SAP R3 ECC, and loads it into OneStream through a connector. This has eliminated manual data entry and ensured the accuracy of their financial data.

In addition, Brisa is utilizing drill-back functionality to see data loaded in the workflow from their source systems. This has improved the transparency and accuracy of their financial reporting, as well as providing Brisa with the ability to quickly and easily respond to regulatory requirements.

Upgrades

Brisa recently completed their first big upgrade to the OneStream platform to version 8, which required IT involvement due to authentications. Although it is quite recent, Brisa already noticed during the 2024 Q2 closing a faster processing time.

Future Plans

Brisa plans to make small improvements to their current OneStream deployment, such as optimizing their data integration processes and enhancing their reporting capabilities. Regarding other projects in OneStream, the company is still evaluating which path other departments want to follow. Brisa is committed to continuously improving their financial operations and leveraging the capabilities of OneStream to achieve their goals.

Lessons Learned

Throughout the implementation process, Brisa learned several valuable lessons. Firstly, the company discovered that the better the metadata is defined, the more robust the solution will be. This emphasizes the importance of taking the time to accurately define and organize financial data, as it can have a significant impact on the accuracy and efficiency of the consolidation process.

Secondly, Brisa found that it takes some time for users to fully understand and benefit from what OneStream offers. This highlights the importance of training and support resources to ensure that users are able to effectively utilize the platform and gain the full benefits of their investment.

Finally, Brisa learned the importance of involving stakeholders in the development and implementation process. By involving key decision-makers and end-users, Brisa was able to ensure that the solution met their specific needs and was able to adapt to changing business requirements.

Conclusion

Brisa's transformation journey with OneStream has been a success. The company has been able to streamline their financial operations, improve efficiency, and gain valuable insights into their financial performance. By choosing OneStream, Brisa has invested in a modern and flexible CPM solution that will support their growth and enable them to adapt to changing business environments.

Throughout the implementation process, Brisa learned several valuable lessons that will benefit them as they continue to leverage the capabilities of OneStream. By taking the time to define their metadata accurately, investing in training and support resources, and involving stakeholders in the development and implementation process, Brisa has set themselves up for success in their financial operations.

Join Brisa's Success Story

Are you ready to transform your financial operations and unlock the power of OneStream? Contact us today to learn more about how OneStream can help you streamline your consolidation process, improve your reporting capabilities, and gain valuable insights into your financial performance

More information?

Would you like to know more about optimizing the consolidation and reporting process for your organization?

Please contact:

• Roy Piek: roy.piek@aiqos.io (Global)
• David Gómez: david.gomez@aiqos.io (Iberia/ Portugal)