Lithion Battery Selects OneStream Software to Modernize and Streamline Complex Financial Processes

By: OneStream Software via Business Wire

June 13, 2023 at 09:00 AM EDT

Nevada-based manufacturer of battery cells, packs and modules to replace Excel® spreadsheets with OneStream’s Intelligent Finance platform

Lithion Battery, a high-tech designer and vertically integrated manufacturer of primary & secondary battery cells, rechargeable & non-rechargeable battery packs and battery modules, has selected corporate performance management (CPM) vendor OneStream Software to streamline and modernize their financial close, consolidation and reporting processes. Lithion Battery is implementing OneStream’s Intelligent Finance platform to replace a complex series of disjointed Excel® spreadsheets that were being used to support financial consolidation and reporting.

Lithion Battery has grown rapidly across the globe, adding complexity to their financial processes. The company needed a solution that could streamline their complex processes and provide scalability to support future growth. Lithion Battery’s reliance on multiple disparate Excel spreadsheets created challenges consolidating financial results via complex workbooks and in processing intercompany eliminations.

The Finance team evaluated IBM, Planful and OneStream as replacement candidates. After several OneStream demonstrations the solution was determined the best fit to address the company’s current needs with the capability of modernizing and streamlining their financial processes as the company continues to grow. OneStream’s Extensible Dimensionality® was a key feature for Lithion Battery because it enables the company to enforce their corporate standards while providing the autonomy to plan, budget and report the way their multiple business units need to run their divisions.

“As we examined Lithion Battery’s growth, it became clear that we needed a solution that could modernize our financial close and consolidation processes and serve as a partner to strategically support our future plans,” said Henk Adriaenssens, CFO at Lithion Battery. “With OneStream we are able to gain near real-time insights to drive the business towards growth and remain agile against today’s rapidly changing business environment.”

“We are excited to partner with Lithion Battery to help streamline their financial processes,” said Angel Ramsdell, Commercial Account Executive at OneStream. “OneStream’s capabilities are a perfect match to their needs as a rapidly growing company, with the opportunity to extend their investment as the company continues to expand into new areas. OneStream is able to serve as a strategic business partner for Lithion Battery’s evolving business priorities by providing user flexibility, key insights into business performance and efficiencies across the enterprise.”

About Lithion Battery

Lithion is a vertically integrated manufacturer of cells and rechargeable and non-rechargeable battery modules and packs serving the industrial, medical, robotic, military / defense and energy end-markets. Lithion works closely with original equipment manufacturers and end users to provide high-quality power solutions for critical applications where reliability is paramount. Working closely with customers while producing Lithium Iron Phosphate and other lithium-ion cells and battery modules and packs out of Lithion’s North American based manufacturing operations, allows the Company to reliably deliver product to customers - products which are controlled by highly customizable battery management systems. Highly differentiated product coupled with reliable supply allows Lithion to provide the electrification solutions customers require.

About OneStream Software

OneStream provides an intelligent finance platform built to enable confident decision-making and maximize business impact. OneStream unleashes organizational value by unifying data management, financial close and consolidation, planning, reporting, analytics and machine learning. We empower Finance and Operations teams with AI-enabled insights to make faster and more intelligent decisions every single day. All in a single, modern CPM platform designed to continually evolve and scale with your organization.

OneStream is an independent software company backed by private equity investors KKR, Tidemark, D1 Capital Partners, and IGSB. With 1200 customers, 230 implementation partners and nearly 1300 employees our primary mission is to deliver 100% customer success. To learn more visit www.onestream.com.