Simplify and standardize reconciliation to build efficiency, transparency, and reliability
As part of the operation model review, our client identified the need to switch to one integrated general ledger to drive simplification and standardization. To support this objective, our team of experts built an integrated one general ledger and one chart of accounts built on SAP S4 HANA platform that served as the interface between consolidation exercise and the information flowing in from multiple sub-ledgers. It provided a single source of financial data and a harmonized multi-valuation chart of accounts.
Accelerate and reduce process cycle times by removing obsolete steps from the reconciliation cycle
Our team collaborated with client to reduce the redundancies and number of obsolete steps that existed in the account reconciliation process. We worked with the team to build an agile methodology-based framework, refined their target operating model, and laid the foundation for future product development and change management. We leveraged the cloud to bring in scale to streamline their process and counter redundancies that were pervasive across their operations.
Build financial information transparency and drive faster and accurate decision-making at-scale
We worked with the client to improve the availability and management of financial data, eliminate effort-intensive reconciliation, and reduce critical personnel dependency. To minimize the number of exchanges between a sub-ledger with multiple ledgers, we built an integration layer that served as the intermediary between one general ledger and various sub-ledgers. Instead of fleshing out numerous reports and then consolidating them, everyone now had access to one consolidated monthly report on the cloud (SAP S/4HANA) to drive agility at-scale and drive cost optimization. This program transformed these aspects of their financial management process - cost transparency, general and sub-ledger, reporting, lease accounting, controlling, and intragroup retro acceleration.
Figure 3 – Our three-pronged approach to driving financial business transformation