Weir ESCO Advances Digital Transformation Journey with Finance Process Automation
Company was recognized in April for outstanding participation with OneStream’s user community
16 May 2023
During the last few years, Weir ESCO has been on a journey of digital transformation, adopting digital technologies designed to drive increased efficiency and greater agility throughout the business. Among the top priorities has been identifying and implementing a new corporate performance management (CPM) platform to unify key finance processes, standardize forecasting models and facilitate greater job satisfaction within the finance team.
“While changing CPM platforms is a daunting task, we were able to move quickly because we had a clear vision for what we wanted,” said Dave Baumgartner, finance process leader for Weir ESCO. “After evaluating several vendor options, we ultimately selected OneStream, a market-leading software used across multiple industries, including manufacturing.”
Below, Dave and his finance team members have shared a few key learnings from their CPM vendor evaluation and selection process:
Have a clear vision of what your organization needs now and in the future.
“We were looking for a platform that would automate many of the still manual processes in finance and accounting,” said Dave. “Equally important was improving ways of working for team members. Efficiency and job satisfaction have improved because we now are able to focus on tasks that create greater value.”
Have a roadmap for deploying future CPM solutions across your organization.
“We launched OneStream with an immediate focus on improved financial planning and analytics, including budgeting and forecasting,” said Dave. “The platform has many other modules that we will likely integrate over time. Our current implementation roadmap expands past 2025.”
Choose the best platform for your specific requirement.
“There are many CPM options out there, but keep in mind that what’s considered the best CPM software for one business may not be right for yours,” added Dave. “For Weir ESCO, it was important to invest in a platform that was compatible with a manufacturing company, was modular and had excellent support.”
Consider whether having a user community is important to the success of your team.
“Implementing a new CPM is about changing how we do things. Having a robust community of users with whom we can exchange ideas and share knowledge is important to us. We’ve really embraced it,” added Dave. In fact, Weir ESCO was invited to speak at OneStream’s global user conference in April where the company also was recognized for community participation.
Left: Weir ESCO was one of three OneStream users that received honorable mention recognition during the conference for outstanding participation with the OneStream user community. Right: More than 2,000 users, educators, presenters and vendors convened in Washington, D.C., for OneStream’s annual global conference.
“Attending the conference reinforced that we are using our new CPM platform to its full capabilities,” said Dave. “It’s exciting to be part of Weir ESCO’s digital transformation. And, while change isn’t always easy, I’m looking forward to how new ways of doing things will support our business and the professional development of our team.”
