Case Study: Dril-Quip achieves faster month-end close and streamlined financial forecasting with OneStream Software

Dril-Quip - Customer Case Study

Dril-Quip, a global manufacturer of offshore drilling and production equipment, faced an inefficient month‑end close and limited regional visibility due to reliance on Excel spreadsheets for consolidation, reporting and forecasting. Manual data collection, disconnected drivers and weak internal controls made budgeting and SEC reporting slow and error‑prone, and leadership lacked the timely insights needed for strategic decisions.

Working with implementation partner HollandParker, Dril‑Quip replaced spreadsheets with OneStream’s unified CPM platform to deliver financial consolidation, rolling 18‑month driver‑based forecasting, sales, people and capital planning, and cloud deployment. The change automated intercompany eliminations (from days to minutes), cut the monthly close by three days, saved 60 days annually on forecasting, improved auditability and visibility, and enabled faster, more accurate SEC and operational reporting.

Dril-Quip

Trevor Ashurst

Manager for Financial Planning & Analysis and Investor Relations