About The Carlyle Group
The Carlyle Group is a global alternative asset manager with $195 billion of assets under management across 317 investment vehicles.
Founded in 1987 in Washington, DC, Carlyle has grown into one of the world’s largest and most successful investment firms, with more than 1,600 professionals operating in 31 offices in North America, South America, Europe, the Middle East, Africa, Asia and Australia.
The Challenge
For financial consolidation and reporting the company was using an outdated version of Oracle Hyperion Financial Management (HFM) that wasn’t compatible with Windows 10, and had a complicated design that made change management difficult. For financial budgeting and planning, Carlyle was using Business Objects Planning which was no longer supported by SAP and was running on an outdated and unsupported operating system. There was no flexibility to expand the application’s functionality, and no ability to automate actuals verus budget reporting and analysis due to differing levels of detail between systems.
What OneStream Did
The OneStream XF Solution: The Carlyle team projected that an investment in OneStream would yield the strongest ROI (36% over 5yrs) when compared to an all-Oracle investment.
Streamlining Financial Consolidation and Reporting: With OneStream, Carlyle implemented a direct connect to their PeopleSoft GL and automated the loading of Excel-based templates that were done manually before.
Improving Visibility in Budgeting and Forecasting: With OneStream, Carlyle implemented a direct connect to their PeopleSoft GL and automated the loading of Excel-based templates that were done manually before.
Extending the Investment with People Planning:
With OneStream, Carlyle implemented a direct connect to their PeopleSoft GL and automated the loading of Excel-based templates that were done manually before.
What OneStream Achieved
The implementation of OneStream has resulted in significant process improvements for Carlyle. Consolidating a full year of GAAP actuals was reduced from 6-8 hours to 3-4 hours while including significantly more detail than was previously loaded in Hyperion (e.g., project-level details). Submitting revenue and expense budget updates and reviewing the impact was reduced from 1 week to 5-10 minutes. Updating allocation metrics and reviewing the impact was reduced from 1 week to 30- 60 minutes and is now run four times daily. And updating headcount assumptions and reviewing the impact was reduced from 1 week to 20 minutes.
Best Outcome:
Dramatically simplified their technical landscape while improving their reporting and analysis capabilities.
RESULT:
Consolidation times reduced by more
than 50%
RESULT:
Revenue and expense budget updates reduced from 1 week to 5-10 minutes
RESULT:
Updating allocation metrics reduced
from 1 week to
30-60 minutes
