Success Story Library
Google Mitigates Risk and Reduces the Cost of Administering Compliance Program
Overview
Founded in 1998, Google Inc. (NASDAQ:GOOG) employs more than 10,600 people worldwide. Headquartered in Mountain View, Calif., the company provides targeted advertising and Internet search solutions. Google Inc. reconciles 320 balance sheet accounts for 15 to 20 entities on a monthly basis throughout the Americas, and an additional 300 to 400 balance sheet accounts in the remainder of the world. The company maintains ten offices worldwide where an accounting function exists.
Challenges
As a rapidly growing company, adding new entities and new accounts monthly, Google sought a scalable account reconciliation tool that would meet their expanding business needs. Prior to implementation, Google tracked reconciliation completion on an Excel spreadsheet with manual follow-up. The reconciliations were maintained in large binders, from which key information was periodically or temporarily missing when it had been removed for review by internal or external auditors. When Google began looking into a reconciliation solution the process was driven entirely by the accounting department and the people who would be using it. Once the solution was chosen, Google went to great lengths to prepare users for the coming change. Numerous training sessions were held and quick-look user guides were created to make it easy to learn the new system.
Objectives
- Comprehensive, automated system to replace manual processes,
- Real-time visibility into the status of the reconciliation program/control across the enterprise, including transaction-intensive accounts
- Remote and secure access to reconciliations
- Increased ability to meet compliance requirements
Capabilities Provided
Trintech’s AssureNET GL has automated and standardized transactional processes across the enterprise, and provides the following:
- Complete visibility and transparency into the status of the reconciliation process across the enterprise, including detailed analysis by department, location, or region
- Support for all types of balance sheet reconciliations, including various types of asset and liability accounts
- Workflow management that allows for prioritization
- Proactive identification of current and potential compliance issues
- Extensive template and custom reporting features
- Remote access to reconciliations for Latin America offices in Q3 2007 and possibly to offices outside of the Americas in 2008
- Tools to detect and manage risk, and tools to test the quality of completed reconciliations
Testimonial
“I was looking for a tool and a process that were scalable and provided assurance that all accounts, especially key accounts, were being reconciled each month and on a timely basis. Under the old method it was only going to be a matter of time where we would find that a key account had not been reconciled.” - Dan Martinelli, Controller for the Americas
Other Information
If you would like to learn how you too can reduce the cost of administering your Sarbanes-Oxley compliance program, contact Trintech today.
