Implementing HFM AND FDM for Atkins plc

Atkins plc is a British multinational engineering, design, planning, architectural design, project management and consulting services company headquartered in London. In 2016, Atkins was the UK’s largest engineering consultancy and the world’s 11th largest global design firm. It employed approximately 18,000 staff based in 300 offices across 29 countries and had undertaken projects in over 150 countries. 

*In July 2017 the company was bought by SNC-Lavalin a £2.1 billion deal The new group was subsequently renamed AtkinsRéalis in 2023.

After Atkins deemed Hyperion Enterprise unfit for future purpose, Concentric Solutions was brought in to lend their expertise and assist with the implementation of Hyperion Financial Management (HFM) V11.1.2.3 for consolidation and reporting, in conjunction with Hyperion Financial Data Quality Management (FDM) for data loading and for drill-back to source data. 

The challenge

Financial consolidation and regulatory reporting had historically been completed by Atkins using Hyperion Enterprise. This had been sufficient in the past, but due to the exponential growth of the company, and the need to report in multiple currencies (both regionally and functionally) a more robust solution was needed. 

It was decided to move to a new solution as Hyperion Enterprise was no longer supported and its reporting functionality was limited. 

In addition, Atkins wanted to improve their financial reporting to: 

Report across areas with different currencies. 

Automate uploads from US and Scandinavian ledger systems (E-Business and Maconomy respectively). 

Provide the ability for local units to prepare their own statutory information. 

The solution

Hyperion Financial Management (HFM) was selected as the best-fit solution for Atkins. 

The project was managed according to Concentric’s implementation framework with our team assuming responsibilities for project management guidance, business analysis, lead design, hardware specification and software installation and consultancy for system build, integration and deployment support. 

The primary objectives of the HFM implementation were identified as follows: 

• Remove reliance on an unsupported system which relies on outdated technology and could not be enhanced further. 
• Have the capability to report functionally and regionally as well as in legal and management structures. 
• Have flexibility in managing and manipulating organisational structures. 
• Reduce the reliance on multiple spreadsheets for reporting and provide automated standard report packs. 
• Enable secure access to appropriate data across organisational structures. 
• Ensure the ability to see current data defined in relation to alternative or historic structures. 

The results

Concentric’s in-depth knowledge of configuration, infrastructure installation and lessons learned from similar large-scale deployments was integral to the project success. 

The successful implementation of HFM resulted in the following benefits: 

• Business heads receive account information immediately after closing books. 
• There is now consistency of information with a suite of standard reports. 
• The US and Scandinavian business units are able to automatically upload information and on a regular basis. 
• Create statutory cash-flow at Group and subsidiary level (as automated as possible). 
• The ability to consolidate GBP and non-GBP entities automatically, improving timescales and reducing errors. 
• Increased visibility of intercompany balances which will allow for more accurate and timely reporting and elimination. 
• With a single source, and increased automation, the financial reporting team will be able to interrogate the information more quickly and easily rather than having to manipulate it through spreadsheets. 

"We were very impressed with the delivery from Concentric, especially regarding their professionalism, attention to detail, and cultural fit. Their in-depth knowledge of configuration and lessons learned from similar large scale deployments was integral to our success. The team would often go above and beyond their commitments to ensure delivery was achieved." – Lee Virgo, Project Management Lead, Atkins plc 

Start your finance transformation journey

Take the first step to transforming your finance operations and book a free discovery call with our expert OneStream consultants...