The Hackett Group Recognized as the 2024 Finance Transformation Award Winner by OneStream Software
The Hackett Group (NASDAQ: HCKT) has been honored with OneStream Software's 2024 Finance Transformation Award. This accolade was presented at the OneStream Splash event in Las Vegas, recognizing Hackett's exceptional work in transforming Pella's financial operations. The project unified Pella's budgeting, profitability, forecasting, tax reporting, and lease accounting into one platform, drastically reducing consolidation times and improving decision-making speed. Allocation execution times dropped from a day to five minutes per iteration, significantly enhancing operational efficiency. The comprehensive solution provided strategic insights and detailed income statements, enabling Pella to adapt swiftly to market changes and optimize profitability. Paulo Dominguez and Trey Robbins from The Hackett Group highlighted the team's expertise and commitment, while Stephanie Cramp from OneStream praised the project's complexity and impact.
- The Hackett Group received the 2024 Finance Transformation Award, enhancing its reputation.
- Unified Pella's financial operations, improving efficiency and decision-making speed.
- Reduced consolidation times to minutes, boosting operational efficiency.
- Cut allocation execution times from a day to five minutes, significantly enhancing productivity.
- Provided detailed income statements by product, channel, plant, and brand, aiding in strategic planning.
- Enabled Pella to adapt quickly to market dynamics, optimizing profitability.
- No specific negative business or financial aspects were mentioned in the press release.
The Hackett Group’s collaboration with OneStream Software and Pella demonstrated their innovation and expertise in fully leveraging the OneStream platform for breakthrough results. This recognition was earned by integrating and unifying Pella’s financial operations into a single, cohesive platform. The Hackett Group consolidated all budgeting, profitability, forecasting, tax reporting, and lease accounting processes while strategically improving Pella’s financial planning and reporting.
This transformative solution reduced consolidation times to minutes, dramatically improving decision-making speed. Allocation execution times were cut to five minutes per iteration from up to a day per iteration, drastically enhancing operational efficiency. Reporting and analysis tools delivered strategic insights that enabled stakeholders to make better-informed decisions. The Hackett Group’s implementation also provided a comprehensive profitability management solution, allowing detailed income statements segmented by product, channel, plant, and brand. This unified platform empowered Pella to adapt quickly to market dynamics and optimize its strategic planning capabilities, enabling it to significantly improve efficiency, accuracy, and profitability.
"We are deeply honored to receive the Finance Transformation Award from OneStream Software," said Paulo Dominguez, Global Managing Director for AI and OneStream Enablement of The Hackett Group. "This recognition is a testament to the unwavering commitment and expertise of our team, who leverage the innovative capabilities of the OneStream platform to transform our clients' financial operations. It reaffirms our efforts and inspires us to continue pushing the boundaries of what's possible in finance."
"Receiving this award is a reinforcement of our strategic focus on delivering both immediate and lasting improvements to financial systems," commented Trey Robbins, Principal for AI and US OneStream practice leader for The Hackett Group. "We're dedicated to helping our clients thrive by delivering transformative financial solutions that leverage OneStream's platform and our team's expertise."
“We are thrilled to announce The Hackett Group as a 2024 Finance Transformation Award winner,” said Stephanie Cramp, Senior Vice President, Global Alliances at OneStream. “This award recognizes the end-to-end impact and transformation The Hackett Group delivered to our customer’s financial operations. The complexity of the project and complete finance transformation using the OneStream platform delivered efficiencies for our customer while providing consistency and standardization across all geographies.”
About OneStream Software
OneStream is how today’s Finance teams can go beyond just reporting on the past and Take Finance Further by steering the business to the future. It’s the leading enterprise finance platform that unifies financial and operational data, embeds AI for better decisions and productivity, and empowers the CFO to become a critical driver of business strategy and execution.
We deliver a comprehensive cloud-based platform to modernize the Office of the CFO. Our Digital Finance Cloud unifies core financial and broader operational data and processes and embeds AI for better planning and forecasting, with an extensible architecture, so customers can adopt and develop new solutions, achieving greater value as their business needs evolve.
OneStream is a software company backed by private equity investors KKR, Tidemark, Partners Fund Capital, and Alkeon Capital Management. With more than 1,400 customers, 250 go-to-market, implementation, and development partners and 1,300 employees, our vision is to be the operating system for modern finance, digitizing core financial functions and empowering the CFO to become a critical driver of business strategy. To learn more, visit www.onestream.com.
About The Hackett Group®
The Hackett Group, Inc. (NASDAQ: HCKT) is an IP-based Gen AI strategic consulting and executive advisory firm that enables Digital World Class® performance. Using AI XPLR™ – our AI assessment platform – our experienced professionals guide organizations to harness the power of Gen AI to digitally transform their operations and achieve quantifiable, breakthrough results, allowing us to be key architects of their Gen AI journey.
Our expertise is grounded in unparalleled best practices insights from benchmarking the world’s leading businesses – including
For more information on The Hackett Group, visit: https://www.thehackettgroup.com/; email info@thehackettgroup.com; or call (770) 225-3600.
The Hackett Group, quadrant logo, Quantum Leap and Digital World Class are the registered marks of The Hackett Group.
Cautionary Statement Regarding “Forward-Looking” Statements
This release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements including without limitation, words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” seeks,” “estimates,” or other similar phrases or variations of such words or similar expressions indicating, present or future anticipated or expected occurrences or outcomes are intended to identify such forward-looking statements. Forward-looking statements are not statements of historical fact and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Factors that may impact such forward-looking statements include without limitation, the ability of The Hackett Group to effectively market its digital transformation and other consulting services, competition from other consulting and technology companies that may have or develop in the future, similar offerings, the commercial viability of The Hackett Group and its services as well as other risk detailed in The Hackett Group’s reports filed with the United States Securities and Exchange Commission. The Hackett Group does not undertake any duty to update this release or any forward-looking statements contained herein.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240522563402/en/
Source: The Hackett Group, Inc.
FAQ
What award did The Hackett Group win in 2024?
What is the significance of the Finance Transformation Award for The Hackett Group?
How did The Hackett Group improve Pella's financial operations?
What was the impact of The Hackett Group's work on Pella's financial operations?
Who commented on The Hackett Group receiving the Finance Transformation Award?
