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Case Study

Alterra Mountain Company Transforms Capital Planning with MindStream


Alterra Mountain Company is a renowned provider of recreational and hospitality services. With a diverse portfolio of destinations and a range of businesses, including recreation, hospitality, real estate development, food and beverage, and retail, Alterra operates in a dynamic and competitive industry. To ensure efficient financial management and effective decision-making, Alterra recognized the need to streamline its Capital Planning process. With previous phases of their operations successfully implemented on OneStream, Alterra sought the expertise of MindStream to address the challenges they faced in their Capital Planning process.

Challenges Faced: Alterra had made significant progress in adopting OneStream as their Corporate Performance Management (CPM) solution. However, their Capital Planning process still relied on offline Excel spreadsheets. This manual approach presented several challenges, including the difficulty of incorporating updated actuals into budget categories. Alterra lacked a centralized and automated system to track project budgets, hindering their ability to make informed decisions and effectively manage their resources.

Solution by MindStream: MindStream collaborated closely with Alterra to develop a solution that addressed their Capital Planning challenges. The journey began with MindStream showcasing the art of the possible, presenting Alterra's leadership with a vision of the solution's potential benefits. Through iterative collaboration, MindStream worked alongside Alterra to refine the solution, incorporating critical details, improving user experience, and increasing leadership awareness.

To streamline data integration, MindStream built a Direct Connect integration that allowed for the seamless transfer of source data directly into the registry table. This eliminated the need for manual data entry, reducing the risk of errors and ensuring real-time accuracy. The solution developed by MindStream also included robust reporting and dashboard capabilities. These features allowed Alterra to track all projects over multiple years, encompassing more than 3000 projects within a single system.

Results and Benefits: The implementation of MindStream's solution yielded significant results and benefits for Alterra Mountain Company. Upon experiencing the solution's value, Alterra's leadership recognized the transformative potential and decided to roll out the solution organization-wide. The benefits achieved include:

1. Enhanced Decision-Making: With the new system in place, Alterra gained access to real-time project budget information, including status, total budget, and total spend. This information enabled Alterra's management to make more informed decisions about current and future projects, ensuring optimal resource allocation and improved operational efficiency.

2. Streamlined Processes: The previous manual and error-prone Excel-based Capital Planning process was replaced with an automated and centralized system. This streamlined approach saved significant time and effort previously expended on manual data entry, consolidation, and reconciliation. The solution empowered Alterra's finance and IT teams to focus on value-added tasks rather than administrative burdens.

3. Timely and Accurate Reporting: MindStream's solution provided Alterra with comprehensive reporting and dashboards, enabling instant access to budget and actuals data. This eliminated delays associated with manual data gathering and reconciliation, ensuring accurate and up-to-date information for financial reporting and analysis.

4. Scalability and Future-Readiness: The solution implemented by MindStream is scalable and adaptable to accommodate Alterra's evolving needs. As Alterra continues to grow and expand its operations, the solution can easily accommodate additional projects, departments, and locations, providing a foundation for future success.

By partnering with MindStream to transform their Capital Planning process, Alterra Mountain Company achieved significant improvements in financial management and decision-making. The solution implemented by MindStream replaced manual and error-prone Excel processes with an automated and centralized system. Alterra's leadership quickly recognized the value of the solution and decided to roll it out organization-wide, leading to enhanced operational efficiency, improved financial management, and timely access to critical budget and actuals data.

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