Cricut is a creativity platform with a mission to help people lead creative lives. Three revenue segments include connected machines, design software subscriptions, and accessories & materials.
Cricut transformed their financial consolidation and reporting by implementing OneStream, reducing manual processes, streamlining operations, and creating a scalable solution for future growth.
Cricut, a creative technology platform company, was growing rapidly, adding new entities and currencies to its reporting structure. Their outdated SAP ERP system relied heavily on Excel for financial consolidation and reporting, making the process time-consuming, error-prone, and inefficient. With 12 entities and nine currencies, manually managing their finances had become unsustainable. Cricut needed a modern, scalable solution to automate processes and reduce their reliance on spreadsheets.
Kraft Heinz selected BlackLine’s Intercompany Financial Management platform to streamline their intercompany processes and partnered with SandPoint to implement it effectively. We guided their team through the process—configuring the platform, integrating it with existing ERP systems, and providing hands-on training. This collaborative approach ensured that Kraft Heinz could fully leverage BlackLine’s features for their specific needs.
With OneStream in place, Cricut saw significant improvements in efficiency and control. The company reduced its reliance on spreadsheets from 100 tabs to just 10 and eliminated manual data processing, resulting in substantial time savings. Data refreshes became more frequent, and the new automation allowed Cricut to meet tight reporting deadlines for SEC and board reporting. OneStream’s customizable platform has also equipped Cricut with the tools needed to scale and optimize their financial processes, preparing them for future growth and success.
“We used to create every single report manually in Excel, and we’d have to make sure that formulas were changed monthly, and that everything tied properly with account mappings added in manually. Now it is all automated through the OneStream process. It’s an enormous time-saving benefit.”
– Adam Marchant, Director of General Accounting
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