Redwire
Case Study
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.
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