Azelis secures modern and integrated financial reporting with OneStream Software

Headquarters Antwerp, Belgium
Solution OneStream Software
Employees +2200
Turnover €2.2 billion (Revenue)

About Azelis

Azelis is a leading global innovation service provider, with wide-ranging expertise in the supply and distribution of speciality chemicals and food ingredients industry. Azelis products, services and solutions are sold to over 45.000 customers in 56 countries. Azelis is a global player with more than 60 labs and technical centers over the world. With over 2200 employees Azelis generated a turnover € 2.2 billion in 2020.

What triggered the update?

“from SAP BPC to a modern, cloud-based and unified CPM platform”

For financial consolidation and group reporting, Azelis used SAP BPC. Azelis has always been content with SAP BPC as their CPM solution, but it needed an upgrade. Azelis was also using several other solutions for financial reporting, cash management and account reconciliations.

Account reconciliations were mostly done in (automated) Excel files based on information from their data warehouse. Cash Management and Cash Planning were done in a legacy Treasury solution that needed replacement.

In OneStream Software they found a modern SAAS platform that not only supported consolidation and reporting, but also was able to integrate and automate financial close processes like account reconciliation and treasury related topics like cash planning.

Bram Janssens – Group Controlling and Accounting Director – Azelis

 

“With OneStream we have a modern CPM platform that enables us to replace different solutions into one, save on complexity and costs, while ensuring our future roadmap and ambitions.

 

Cpmview has helped us along the whole journey of selecting the right solution, implementing the solution and ongoing support. They understand both Finance as IT making them a trusty partner of our business.”

What were the objectives?

“supporting Finance to serve as a strategic partner for the business”

As a global and ambitious company, Azelis needs a finance organization that serves as a major enabler of the corporate objectives of realizing sustainable and profitable growth. The finance organization’s system landscape needs to be future-proof, secure, robust and enable efficiency, while allowing finance to serve as a strategic partner to the business.

What were the selection criteria?

“an unified platform that replaces multiple fragmented legacy solutions saving on costs and complexity in reporting processes”

In 2019 Azelis started the orientation to a modern and future-proof solution to meet these corporate objectives.

After an orientation in different solutions the choice was made for OneStream Software (OS). OneStream offers Azelis a modern, unified and cloud-based platform, that supports their key requirements around Finance autonomy, streamlining and harmonizing financial close processes, and a platform that supports the future growth and ambitions of Azelis. Furthermore, OneStream as an unified platform replaces multiple fragmented legacy solutions saving on costs and complexity in reporting processes.

Martine Cortebeeck – Group Accounting Manager – Azelis

“Cpmview was a real help with ensuring a streamlined transition of our old consolidation system to the new one. They really understand consolidation and are able to solve problems.”

 

Why was OneStream Software selected?

“OS not only supports consolidation, FP&A and reporting, but also specific planning topics and automates local close processes.”

Throughout the selection process, Azelis also followed through on the opportunities presented by OneStream Software:

  • Automating and streamlining typical local close processes like account reconciliations.
  • Specific planning topic like cash planning.
  • Cloud based & integrated plaform;
  • Clear focus on speed, user friendliness and quality;
  • Full support of the finance function (reliability, accuracy, completeness, internal control proof, effectiveness / efficiency, etc).
Corporate Performance Management (CPM)

Jorien Adriaensen – Group Reporting Manager – Azelis

“With OneStream we are now able to automate our account reconciliations saving us a lot of time during the month-end close. It is really great that we can have one system to perform the complete financial reporting with full traceability and visibility on progress. Cpmview was there every step of the way to help and guide us with the implementation. The support they provided and their flexibility was highly appreciated during the whole project.”

Who guided Azelis during the CPM deployment lifecycle?

“Cpmview: from vendor selection to successful go-live.”

Cpmview covers the whole horizon of CPM services: advisory, implementation, operations and training. So when Azelis asked them to guide them during the vendor selection process cpmview was happy to assist.

Cpmview as a OneStream partner also helped Azelis to implement the solution to improve, simplify and automate their key finance processes.

The goals of the project were to implement a unified Corporate Performance Management solution to support the following processes:​

  • consolidation, reporting, budgeting and forecasting,
  • account reconciliations and task manager,
  • cash planning & treasury.

The OneStream platform supports many future extension capabilities that match the ambitions of the Azelis finance department. Cpmview will keep on supporting Azelis in their journey.

Future-proof, secure and robust CPM cloud platform

Simplify reporting and analysis by replacing existing consolidation system with a modern, unified and integrated platform

Save on time and costs with integrated financial reporting, cash planning, account reconciliation and financial consolidation.

Wouter Mertens – Corporate Controller and Project Manager for the OneStream-implementation – Azelis

“Throughout the project, Cpmview has been a great support, with the combination of their knowledge of Azelis and Azelis’ requirements, but also as they had good knowledge on Azelis’ legacy systems combined with a deep understanding of our new OneStream-system.”

Cases