Royal IHC is a global leader in the maritime industry, specializing in vessels, equipment, and services for the dredging, offshore, and defense sectors. As a project-driven organization with a complex matrix structure, efficient financial processes are critical. After 14 years of service, it was time to move beyond SAP BPC—not only because SAP was ending support, but also to meet the demand for faster, more reliable management insights in a dynamic market.
The End of SAP BPC: What’s Next?
The challenge was clear:replicating SAP BPC’s extensive, customized functionality in a modern solution. Royal IHC needed a system that was simpler, more efficient, and better integrated with its underlying ERP systems. The goal? A future-proof foundation capable of supporting the company’s complex organizational structure without adding unnecessary complexity. While the task was significant, it presented an exciting opportunity for improvement.
Building the Solution Together
Royal IHC and Finext chose OneStream for its strong integration capabilities and scalability through the Marketplace. Finext guided the project with a focus on reimagining processes rather than opting for a simple “lift and shift” approach. The team redesigned and simplified everything, building the new solution through intensive, agile collaboration in a dedicated project space. Using an agile methodology with two-week sprints, the team prioritized data quality and thorough testing, enabling a seamless go-live without the need for parallel runs.
The Benefits of the Transition
Implementing OneStream delivered a strong, future-ready solution:
- Faster, more accurate reporting
Efficiency & Performance
- Financial closing process reduced by 30%, accelerating reporting cycles.
- 25% less application management, freeing up capacity for further development.
- Simplified and streamlined processes through smart redesign rather than a lift-and-shift approach.
Improved Reporting & Insight
- More detailed and integrated reporting and analysis, with consolidated data across consolidation, forecasting, and cashflow.
- Enhanced project and financial visibility thanks to better modeling of project-and matrix-based data.
- Future-ready setup enabling the integration of operational and financial data (via additional cubes).
Integration & Flexibility
- Tighter integration with ERP and source systems, reducing manual steps.
- Flexible, scalable architecture easily extendable via OneStream Marketplace.
- Lean and maintainable design, avoiding unnecessary complexity.
Collaboration & Implementation Success
- Strong partnership between Royal IHC and Finext, with co-located project work ensuring rapid feedback and decision-making.
- Agile project approach increased adaptability and collaboration.
- Thorough testing and trust in the system, enabling a smooth, shadow-free go-live.
Data Quality & Governance
- Greater data consistency and audit trail, improving reliability and compliance.
- Clear structure in dimensions and hierarchies, ensuring transparency and traceability.
- Sustainable foundation for future expansion and innovation
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“It was one of the most controlled and structured go-lives I have ever experienced. We delivered on budget, on spec, and on schedule.”
Insight and Flexibility Make a Difference
Key to the project’s success was strong collaboration with Finext and a flexible project execution approach. One critical takeaway was the importance of early, hands-on experience with the tool and a streamlined blueprint phase for future projects. Reinier de Kloet, Controller at Royal IHC, noted: "It really helps to have a partner who is flexible. Finext was always open to discussions, even outside the scheduled project days. That flexibility made all the difference for us."
Ready for the Next Step
With OneStream, Royal IHC has built a robust foundation. Time saved on system management is now being dedicated to further innovation. The next step? Connecting operational and financial data through project accounting. This will provide greater insights, helping the company steer decisions more effectively in an ever-changing market.
