Redwire Transforms Reporting & Budgeting with MindStream Analytics and NetSuite
ShapeRedwire is at the forefront of space exploration, specializing in creating pivotal parts for spacecraft. Positioned as a leader in a high-growth industry, the company is making leaps and bounds in its domain.
The Challenge:
Navigating a highly acquisitive environment, Redwire was grappling with numerous challenges:
Multiple subsidiaries and entities operating on varied ERP systems.
A pressing difficulty in efficiently and swiftly reporting consolidated company figures.
The need for agility in a rapidly expanding industry, made cumbersome by their existing systems.
The Solution:
Understanding the nuances of Redwire's challenges, MindStream Analytics devised a holistic approach to overcome them. The implementation of NetSuite was just the beginning:
A bespoke integration solution was developed, facilitating the seamless merging of data from multiple companies into a unified Chart of Accounts (COA) and reporting structure.
Consolidated reporting became not only feasible but efficient, providing insights that were previously obscured by disjointed systems.
The integration of Smart View became a game-changer. It empowered Redwire to conduct in-depth analysis across different companies and delve deep into data specifics.
Their budgeting process underwent a massive overhaul, becoming markedly faster and more centralized. A significant number of controllers and departmental heads were now enabled to submit budgets into one integrated solution.
The system's flexibility introduced advanced capabilities, like "what if" analyses, allowing Redwire to generate mid, best, and worst-case versions for both budgets and forecasts.
Outcome:
The transformation was monumental. Phase I centered on refining reporting mechanisms and overhauling the general budgeting process. As a testament to the value derived from this partnership, Redwire opted to become an AppCare client. They continue to rely on MindStream Analytics' expertise, especially when integrating new subsidiaries post-acquisition.
Partner SpotLight
NetSuite SuiteSuccess
NetSuite SuiteSuccess offers a pathway for businesses to succeed by engaging with them continuously throughout their lifecycle. NetSuite delivers a unique set of processes, activities, and systems designed to deliver rapid value. Customers are equipped to make the most of their NetSuite investment quickly and are able to expand towards next-generation solutions to meet changing business needs.
Case Studies
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Simon
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