Plaskolite Case Study

Case Study

Client Name:

Plaskolite

Industry

Manufacturing

Solution

OneStream

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Plaskolite’s Planning and Consolidations Success with OneStream Software

Plaskolite, headquartered in Columbus, Ohio, is the leading manufacturer of thermoplastic sheet, delivering acrylic, polycarbonate, ABS, and performance-enhancing coating solutions to customers. Plaskolite’s customized products are used in a wide variety of applications including industrial machinery, point-of-purchase displays, lighting, signage, retrofit applications, construction, transportation, healthcare, bath, and spa.

As the company grew, it needed a more unified and scalable way to manage financial actuals, budgets, forecasts, and consolidation. MindStream Analytics helped Plaskolite modernize these processes with OneStream so finance could reduce manual work, improve consistency, and support more strategic analysis.

The Challenge:

Plaskolite faced planning and consolidation challenges that made it difficult to maintain speed, consistency, and control. The organization needed a single source of truth, stronger governance, and a platform that could support both current reporting demands and future growth.

Need for a single source of truth for all financial actuals, budgets, metrics, and forecasts.

Improve monthly close cycle by replacing the current manual processes and large multi-tab Excel workbook.

Reduce risk by ensuring proper data integrity controls and audit trails.

Implement a solution that is easy to use and maintain by Finance staff with minimal internal IT support and a flexible platform to support future company growth and acquisitions.

Streamline Cash Flow Statement generation through automation and easy-to-update cube views.

Configure multi-currency functionality to support international operations and acquisitions.

Initiate a driver-based budgeting and forecasting platform in OneStream to streamline a detailed process for profit and loss planning, including department-level detail, and facilitate balance sheet planning.

The Solution

With the help of MindStream Analytics, Plaskolite selected OneStream XF, a leading solution for corporate performance management. The project was designed to create a standardized set of financial reports and dashboards to support both management and GAAP reporting for internal and external stakeholders while also empowering business users to create their own reports and dashboards.

MindStream helped Plaskolite move away from manual manipulation of data in Excel, improving the speed and accuracy of reported results. The new platform also delivered improved capabilities for budgeting and forecasting that can be expanded over time to include lower levels of detail, helping the finance team reduce manual effort and gain time for more valuable financial analysis.

Key solution components included:

OneStream provides a complete solution with integrated consolidation, financial reporting, data quality, budgeting, planning, forecasting, and analytics in a modern unified platform with extensible dimensionality.

Its unique extensible dimensionality simplifies ongoing application maintenance and data management.

It offers strong capabilities to improve the monthly close cycle, including support for multi-currency, inter-company, and minority interest reporting.

It delivers flexible and easy-to-use capabilities for planning and forecasting.

The project created standardized reports and dashboards for both management and GAAP reporting needs.

The new approach reduced Excel dependency and enabled business users to create reports and dashboards with greater confidence.

The Result

By migrating to OneStream, Plaskolite achieved a material reduction in consolidation time and overall financial close-cycle effort. The company created a more reliable foundation for planning, budgeting, forecasting, and reporting while reducing dependence on spreadsheets and manual rework.

The project also made it easier to run additional budget and forecast cycles with more consistent data input templates and reporting outputs, giving the finance team a cleaner and more scalable operating model.

Eliminated hours spent compiling and verifying data in Excel.

Streamlined the planning, budgeting, and forecasting model.

Delivered flexible and timely reporting that enables more strategic analysis of financial data.

Significant reduction in spreadsheets and elimination of manual effort to create and seed data.

Made it easier to run additional budget and forecast cycles.

Improved consistency through standardized input templates and reports.

Created a stronger long-term platform for growth, acquisitions, and more scalable finance operations.

What platform did Plaskolite select?

Plaskolite selected OneStream XF as its corporate performance management platform.

What process improved the most?

The company materially improved consolidation and the overall financial close cycle while also reducing spreadsheet-heavy work.

Did the solution include multi-currency support?

Yes, OneStream was configured to support multi-currency requirements for international operations and acquisitions.

Was planning included in the project scope?

Yes, the solution supported budgeting, planning, and forecasting, including the foundation for driver-based planning.