Case Study: SPX Corporation achieves a unified, streamlined finance platform and faster reporting with OneStream Software

SPX Corporation - Customer Case Study

SPX Corporation, a Charlotte-based supplier of engineered HVAC, detection and measurement, and engineered solutions with about $1.5B in 2019 revenue and 4,500 employees across 17 countries, faced a fragmented 18-year-old EPM landscape. Multiple point solutions for data loads, consolidations, planning, tax and reconciliations created siloed reporting, no single source of truth, high maintenance and upgrade costs, and difficulty keeping pace with organizational changes from acquisitions and divestitures.

SPX implemented OneStream in a “big bang” go-live in January 2020, replacing multiple tools with a unified CPM platform (including OneStream MarketPlace tax and planning solutions) and consolidating processes onto two cubes for consolidations and tax. The result was a smooth first close, far better vendor support, condensed reporting (from ~200 reports to 20–30), a working cash flow process, integrated tax and FP&A workflows, automated controls, easier system administration for ~150 users, and a platform they can extend for future needs.

SPX Corporation

Keith Chapman

Director of IT, Corporate Applications