Challenge

A renewable energy PE firm had a significant number of entities around the world, which meant multiple currencies and complex ownership structures. This included tax pass-through entities, joint ventures, minority interest, and variable ownership percentages. As expected, the consolidation process was highly manual and required a substantial number of FTEs to complete in a standard timeframe.

How We Helped

CrossCountry Consulting’s OneStream experts leveraged additional functionality within the PE firm’s OneStream instance to streamline and enhance key finance, accounting, and FP&A processes. This included:

  • Building and deploying custom consolidation logic.
  • Integrating OneStream with the firm’s ERP and other supplemental data sources.
  • Creating dashboards and narrative reporting for lines of business, portfolio companies, management, and the board.
  • Implementing alternate dimension hierarchies for advanced reporting.

These process, data, and technology optimizations would pave the way for frictionless reporting and consolidation workflows and enable the firm to achieve faster cycle times at a reduced headcount.

Results

As OneStream enhancements came online, the firm was able to reassess and redeploy the hours it previously devoted to running the finance function. This was critical to ensuring the firm remained agile to market, regulatory, consumer, and supply chain demands. The firm benefitted from:

  • Dynamic reporting and analytics that quickly highlighted profitability and efficiency trends, enabling leaders to make data-backed financial decisions.
  • Future-proofed metadata and cube structure that could evolve with the firm’s constantly evolving business structure.
  • Time and labor savings resulting from reduced manual effort and fewer FTEs needed to perform consolidations.
  • Faster, automated calculations that could deduce ownership changes month over month.

The value generated during and after this period created a platform for continued scalability and efficiency even in challenging markets. As the firm expands its portfolio of companies specializing in wind, solar, and battery storage projects, it’s helping to shape the future of global energy innovation and infrastructure.