Case Study

Transforming Record to Report improved process efficiency by 40% for a utility provider

Client Situation

  • Defective forecasting and budgeting
  • Gaps in its month-end close process and close calendar
  • Issues in consolidation of accounts for multiple BUs
  • Delays in regulatory submission, restatements & increased costs

Our Solution

  • Process re-engineering to standardized the Record to Report process and reduced complexity across multiple BUs
  • Automation reduced manual errors, delivered faster reconciliations, transaction matching and close management
  • Enhanced governance structure to outline clear accountability and better visibility
  • Reduced cycle time for month-end closure and reconciliations from 8 to 5 working days.
  • Better visibility into the R2R cycle and associated processes to improve risk management, reporting and compliance.

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