About Renewi PLC
Renewi PLC was created in 2017 by the merger of UK-based Shanks Group PLC and Netherlands-based Van Gansewinkel Groep B.V. It is a leading waste-to-product business collecting and recycling waste to energy and fuel, paper, metal, plastic, glass, woodchips compost and other products. Of the 14 million tons of waste handled per year, 89% is either recycled or used for energy recovery. The organization operates in the Netherlands, Belgium, UK, France and Portugal and is headquartered in Milton Keynes UK. Renewi generates more than €1.8B in annual revenue.
The Challenge
Creating innovative renewables, Renewi is the leading waste-to-product organization in the Benelux. With more than 7,000 employees, Renewi operates through five business units in their organizational structure. With six main data sources, including Exact, JD Edwards, Metacom, Agresso, Navision, Pegasus and Excel®, Renewi was spending too much time manually managing data. The company was in urgent need of a solid tool to streamline statutory and management reporting.
What OneStream Did
The first phase of the project focused on management reporting and ad-hoc analysis. This included group, divisional and regional reporting with the capability for comparatives against budget and forecast. OneStream XF was set up for analysis by cost center, intercompany matching and eliminations, and direct data loads from Renewi’s six source systems.
A core element of Renewi’s new reporting system is the Guided Workflow functionality. This has enabled Renewi to push responsibility away from the head office and onto its reporting sites. Workflows link tasks to the appropriate user interfaces, governing user rights and security. Reporting processes are now defined c entrally with local autonomy through a newly designed global chart of accounts.
“The audit controls and reporting enable us to track any changes made to the system centrally or map changes made remotely,” said John Wiericx, Reporting Manager Benelux. “Head office can now audit all data and system changes centrally. We can accept or remediate those changes if they don’t align with Group policies.”
What OneStream Achieved
“Before with the two legacy systems, we were busy for four days doing the entire group consolidation. Now with OneStream, technically, we can do it in one or two days,” Wiericx continued. “Another big timesaver is intercompany reconciliation. It’s all in one database, and all entities have visibility of counter parties, balances and numbers. The OneStream platform really helped us reduce the amount of time spent on consolidation and get better control of the numbers.”
Best Outcome:
There is now a single truth across all operating units.
RESULT:
Single solution for group reporting
RESULT:
Reduction of monthly close process time
RESULT:
Fewer data integration points across systems landscape
