Approach
1. Research and Development
Archetype conducted research and development sessions and created a design.
2. Build
The OneStream application was built and implemented, followed by biweekly build reviews.
3. Maintain
Archetype created training documents, test scripts, and admin guides, in addition to providing support as the implementation went live.
The Details
Problem
Relying on Excel for all their budgeting, Colson Group was struggling to consolidate the budget and provide accurate reporting to compare against actuals. This led to loss of time in compiling the data that could be used for analysis.
Solution
Archetype built workflows that guided users through the budget process about what was needed to enter in order to help calculate the budget. Review dashboards were also created to review and analyze data. Additionally, Archetype developed a custom capital asset solution so they can enter new assets or disposals by asset category, depreciation, accumulated depreciation, asset balances, and calculate roll forward designations.
Result
Colson Group no longer relies on manual, time-consuming and maintenance-intensive reports in Excel for all their budgeting. Archetype’s implementation of OneStream allowed them to shift to a process driven solution. The customer gained much more access and insight into their financial data through the workflows and dashboards that were created and now has access to data like, percent of sales, percent of salaries, spread value by workdays, income statement, balance sheet, and cash flow, providing profound impact for the organization.
