Ep. 012 - OSI Group CFO Transforms Financial Consolidations with OneStream and Nova Advisory

In this episode, Andy welcomes Sherry from OSI Group to the CPM Customer Success Podcast. Sherry shares her insights and experiences in leading a successful finance transformation at OSI Group. She delves into her career background, her passion for bringing order to chaos, and the significant changes she has driven at the company. Tune in to hear about her challenges, the strategies implemented, and the lessons learned along the way. This episode is packed with practical advice and inspiration for anyone looking to drive meaningful organizational change. Sherry DeMeulenaere is EVP, CFO, and Treasurer of OSI Group, LLC. OSI Group, LLC is a global food processor servicing quick service restaurants, retail and food service distributors. Sherry joined OSI Group, LLC in March 2008 as the VP Treasurer, responsible for global treasury and risk management as well as domestic AP, AR and payroll. In March 2014, Sherry was promoted to EVP and CFO adding accounting and tax to her Treasury responsibilities.   Key Highlights: [00:01 - 10:06] Sherry's Background and Career Journey Sherry's passion for finance and her journey from uncertainty to structure. Gained intimate knowledge of a global company and improved information management. The importance of understanding global operations for effective leadership Extensive global selection process and critical partnership with Nova for successful implementation. [10:07 - 14:17] Managing Global Change in Financial Systems Conducted podcasts to explain the need for global change and alignment. Strong support from the COO and President ensured top-down commitment. Held sessions with finance and management teams to gather accurate requirements. Emphasized data integrity improvements and addressed key decisions upfront. [14:18 - 22:33] Lessons Learned During Financial System Implementation Ensure sufficient staffing with detail-oriented individuals for thorough data validation. Clearly communicate the need for a shakeout period post-implementation. Leveraged OneStream's workflow and tools for efficiency and tailored information analysis. Improved data drill-down capabilities for better financial reporting and decision-making. [22:34 - 33:52] Benefits of OneStream's Drill-Down Capability Provides clear visibility into data sources, unlike HFM. Allows users globally to access and resolve discrepancies quickly. Facilitates detailed account-level analysis for accurate reporting. Builds confidence in data accuracy for strategic decisions and presentations. [33:53 - 37:23] Closing Segment Prepare thoroughly and communicate consistently with your management team. Select a knowledgeable implementation partner to train your team for independent management. Establish a dedicated team for system ownership and maintenance from the start. Begin with manageable projects and gradually expand, avoiding the urge to solve everything at once.   If you liked this episode of the show, CPM Customer Success, please LEAVE A 5-STAR REVIEW, like, share, and subscribe!   Get in touch with Andy: Email: [email protected] LinkedIn: https://www.linkedin.com/in/andy-smetana/   Thank you for tuning in!  Tweetable Quotes: "You could buy a great system, if you don't have a good implementation partner, that's not going to work out."  - Sherry DeMeulenaere "Pick some people who are really, really detail-oriented and love to run validations, and are really sharp at that." - Sherry DeMeulenaere "What we liked about OneStream when we picked it was that it had modules. You could expand it. You could start small and build out."  - Sherry DeMeulenaere