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12/09/2021

Accor has Implemented OneStream for Financial Consolidation and Reporting

Hospitality group replaces 10 fragmented products with OneStream.
Michal Christine Escobar
Senior Editor (Hotels)
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Accor, the sixth largest hotel operator in the world and number one in Europe, chose to implement OneStream, a leader in corporate performance management (CPM) solutions, for corporate reporting, hotel reporting, statutory consolidation and financial planning and analysis needs. Accor is replacing ten fragmented legacy applications, including Oracle Hyperion Financial Management (HFM), Microsoft BIA, IBM Cognos TM1 and others, with the unified OneStream Cloud platform deployed on Microsoft Azure.

Accor operates 5,100 hotels across 110 countries, employing over 280,000 people worldwide. With each country managing financial processes separately, using various disjointed tools, the group needed a unified CPM platform that would improve the accuracy and timeliness of financial data. After a very extensive evaluation process, Accor decided to move forward with OneStream following an evaluation process which started with 19 vendors.

“We needed a solution that would not only replace our existing Oracle HFM application but would also offer better support by bringing financial data from each global entity together into a single, unified platform,” said Patrick Laurent of Accor. “We found that OneStream is so much more than a consolidation system as it is capable of very sophisticated use cases for a complex organization like Accor. Extensibility, transparency, strong data integration, and innovation were all strong reasons why Accor decided to implement OneStream.”

The deployment began in April 2019, led by Jérémy Lamarche from Accor, accompanied by Deloitte for project management assistance. OneStream and its implementation partner Klee Performance are accompanying Accor by being in charge of project management for the implementation of the solution. Aside from replacing their Oracle HFM consolidation application in Phase I of the implementation, Accor will also deploy OneStream for detailed hotel level budget and forecasting data collection and management reporting.

“Accor is OneStream’s first French customer in the hospitality industry,” said Craig Colby, President of OneStream Software. “We recognize the strong demand in the market for a modern and intelligent CPM platform across this region and are honored by the opportunity to have been selected out of 19 competing vendors. For Accor, OneStream has proven to possess the capabilities to manage critical global finance processes more effectively within one platform.”

For more information on OneStream go to http://www.onestream.com.