CoorsTek Case Study

Case Study

Client Name:

CoorsTek

Industry

Manufacturing

Solution

OneStream

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CoorsTek Streamlines Financial Consolidation and Reporting with OneStream

CoorsTek, a long-established materials science company known for advanced technical ceramics, needed to simplify a complex financial consolidation and reporting environment. To reduce manual work and improve reporting efficiency, CoorsTek partnered with MindStream Analytics to implement OneStream.

The Challenge:

CoorsTek faced a complicated close and reporting process spread across multiple Hyperion applications, offline Excel processes, and differing rollup structures across key business entities.

Financial consolidations relied on four separate Hyperion Financial Management applications.

Important requirements were still being completed offline in Excel, increasing manual effort and error risk.

Different rollup structures across major entities made consolidation and reporting more difficult.

The Solution

MindStream implemented a unified OneStream application that consolidated processes, reduced data movement, and aligned the solution to CoorsTek’s unique reporting needs.

Key solution components included:

Replaced four separate Hyperion applications with a single OneStream application.

Brought several offline Excel-based processes into the OneStream solution.

Used extensibility across cubes, entities, accounts, and user-defined dimensions to fit CoorsTek's structure.

Enabled reporting in multiple currencies and support for GAAP, IFRS, and statutory reporting requirements.

The Result

The OneStream implementation gave CoorsTek a more streamlined and scalable consolidation environment, reducing administrative effort and strengthening the foundation for future growth.

Simplified the close process by consolidating multiple applications into one platform.

Reduced reliance on offline processes and manual intervention.

Improved data accuracy and overall reporting efficiency.

Created a scalable reporting and consolidation platform for future expansion.

What is OneStream?

OneStream is a unified corporate performance management platform for financial consolidation, planning, reporting, and analysis.

Why replace multiple Hyperion applications with one platform?

Consolidating multiple applications into one platform reduces complexity, lowers maintenance effort, and improves reporting consistency.

What is statutory reporting?

Statutory reporting is financial reporting required to meet legal, regulatory, or jurisdiction-specific reporting obligations.

Why bring Excel-based close processes into CPM software?

Moving Excel-based close processes into CPM software helps reduce manual errors, improve auditability, and speed up the close cycle.