Case Study
IPS Corporation Achieves Unified Insights and Efficiency with OneStream
IPS Corporation, a leading manufacturer of solvent cement, was facing growing complexity across its operating companies as multiple data outputs and inconsistent reporting practices made it harder to maintain alignment. The company needed a more reliable source of truth for reporting while also reducing the burden of manual spreadsheet work across diverse business practices.
As IPS Corporation prepared for future growth and acquisitions, it became clear that a more connected and scalable finance platform was needed. MindStream Analytics implemented a OneStream-based solution to help IPS Corporation streamline reporting, strengthen consistency, and create a stronger operational foundation.
The Challenge:
Before the new solution was in place, IPS Corporation was dealing with inconsistent reporting practices across its various operating companies. Finance teams were managing large volumes of spreadsheet-based work, and differences in business practices across OPCOS made reporting harder to standardize. This created extra manual effort, limited confidence in results, and made it more difficult for management to rely on reporting across the organization.
The company also needed better integration between source systems and finance processes. Without a consistent framework for allocations, forecast input, cash flow management, and reporting, teams had to spend too much time managing data instead of using it. Manual handling increased the risk of errors and made it harder to scale the reporting model as the business grew.
With growth and future acquisitions on the horizon, IPS Corporation needed a more unified reporting environment that could serve as a dependable source of truth, improve data entry consistency across business lines, and support broader budgeting and forecasting needs over time.
The Solution
In collaboration with MindStream Analytics, IPS Corporation deployed a connected OneStream application designed to link source data, strengthen reporting, and support core finance processes in one environment. A key part of the solution was a direct connection to the JDE system, supported by drill-back capabilities that improved visibility into source transactions.
MindStream built the application so it could integrate critical functions including allocations, forecast input, cash flow management, and embedded reporting capabilities. This created a more unified operational framework and helped move the organization away from fragmented manual practices.
By centralizing these capabilities in OneStream, IPS Corporation gained a more consistent data entry model across business lines while also establishing a stronger reporting foundation for management. The solution addressed immediate reporting challenges while also preparing the business for the next phase of budgeting and forecasting maturity.
Key solution components included:
The Result
The new OneStream application delivered significant operational improvements for IPS Corporation. Manual work was replaced with more automated processes, reducing errors and improving efficiency across reporting and finance workflows. With integrated reporting capabilities embedded in the application, management gained a clearer and more consistent view across operating companies.
The solution also helped harmonize data entry across business lines, putting an end to many of the inconsistent reporting practices that had created friction across OPCOS. Cash flow management, allocations, and basic forecasting became more streamlined, while the organization established a stronger source of truth for reporting and decision-making.
Overall, IPS Corporation now has a more unified and scalable reporting foundation that supports current finance operations and positions the company for future growth. The project also created readiness for phase two, giving the business a solid base for a broader end-to-end budgeting and forecasting rollout.