Parkland Corporation, one of America’s fastest growing, independent suppliers and marketers of fuel and petroleum products and a leading convenience store operator, was utilizing excel to match bank transactions against the general ledger. Archetype implemented OneStream to allow Parkland to focus on results instead of mechanics.
Parkland had a painfully manual and time-consuming process using Excel to match bank transactions against the general ledger and other supplementary sources, such as AMEX. They were looking to move off Excel to a more streamlined operation and improve the integrity of their financial results.
Archetype implemented Transaction Match environment (TXM) and Account Reconciliation through OneStream for several of Parkland’s bank accounts. Additionally, the team developed customized workarounds for ultimate results, including a filtering process dashboard, supplementary account analysis dashboards, as well as direct connects to Scotia Bank and several others.
Archetype’s implementation of OneStream resulted in the removal of Excel and Parkland’s ability to match transactional data from multiple sources and quickly resolve differences to accelerate account reconciliations and the close process. Additionally, the OneStream platform also improved the accuracy of financial statements by reducing write-offs of unexplained differences, and reduced data latency and costs with a unified platform.