Streamlining 9 Independent Refineries for a Leading Global 2000 Crude Oil Refiner using OneStream's EPM Platform

Facebook LinkedIn Twitter Print Copy link

Optimizing Merger Integration: Streamlining 9 Independent Refineries for a Leading Global 2000 Crude Oil Refiner using OneStream's EPM Platform

The Challenge (or “The Need”)

In today’s business climate, change is the norm and organizations need the ability to adapt to those changes, while limiting the impact and disruption to organizational performance, planning, forecasting, and reporting cycles.

The Solution

Opportune’s business transformation professionals performed the following:

  • Performed account mapping of 9 separate GL systems into a common chart of accounts (COA.)
  • Automated monthly consolidating activities across each entity.
  • Implemented planning and budgeting module across newly formed entity.
  • Built out post-merger, performance indicator, monitoring capability.

Business Impact

  • Substantially accelerated the close cycle through automation of consolidating activities.
  • Decreased budgeting and planning completion timeline by 60%.
  • Provided ability to systematically model and perform what-if analysis using variable inputs.
  • Provided ability to monitor real-time synergy performance against KPIs.

Related Insights

Looking for expertise in the energy industry? We’ve got you covered.

Find out why the new landmark legislation should provide a much-needed boost for the development of carbon capture.