SelectQuote Gains Complete Visibility and Control into Their Reconciliation and Financial Close with Adra® by Trintech

Case Study

Trintech’s Adra Suite proved to be a game-changer for SelectQuote’s Finance and Accounting department, enabling them to streamline their reconciliation and financial close processes. With the Adra Suite and the integration of their ERP, Netsuite, SelectQuote has been able to increase transparency across their close tasks and reconciliations, resulting in a significant time savings for their team. The SelectQuote team can now close quickly, confidently, and devote more time to value-added projects for the organization.

Key Drivers for Automation

Prior to implementing Adra, SelectQuote struggled with a highly manual and decentralized financial close process. “Because we conducted the process within Excel, the team was spending an unnecessary amount of time trying to figure out the status of the close process when they should have been focused on investigating the exceptions,” said Pushkar Wazat, Senior Director of Finance Operations at SelectQuote. “The administrative work of keeping the process in sync was falling on the shoulders of our Controller, whose time is very valuable, so we knew we needed to look for a solution as this would not be sustainable long-term.”

Woman working on lap top

Why SelectQuote Chose Adra® by Trintech

SelectQuote was looking to increase their visibility with a solution that provided a clear checklist of tasks and would allow them to save time spent on manual work to refocus on higher value-added work. “Instead of searching for information via email or looking in various folders, we wanted to log into a solution to access all the information we would need in one place. In addition, this would also allow us to give our auditors a login to find exactly what they need versus them having to come to our team to help find the information,” continued Wazat. “When we looked at the Adra Suite, it had both components we were looking for. It had the task list component and the NetSuite integration to pull in the balances and help our accounting professionals conduct all reconciliations within one solution.”

A Modern Guide to Financial Close Management

With Adra, our Controller now has a good understanding of where we are in the close cycle or if a particular task is holding us up which has provided a lot of clarity.

Pushkar Wazat, Senior Director of Finance Operations SelectQuote

Effortless Implementation

The Finance and Accounting department at SelectQuote took to the Adra Suite very quickly. Wazat stated, “It was an initiative where the end user would benefit most. Our team is made up of intelligent individuals who were wasting time on administrative work. Implementing Adra freed up their time, so the reception to the solution was very positive.” SelectQuote found the initial implementation process very straightforward and was eager to move forward with the solution. “The realization that much of the manual work would be removed from their day-to-day was a driving force, and it was very well received,” added Wazat. With the help of Trintech’s team, SelectQuote connected the Adra Suite to their ERP, NetSuite, and walked through setting up subsidiaries, how to import accounts, and other processes that supported their team’s further success with the solution.

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ROI Achieved

Today, SelectQuote utilizes Adra Balancer and Task Manager to streamline their reconciliation and financial close processes. With over 300 accounts in Balancer and 200 tasks in Task Manager, SelectQuote has increased transparency across their close tasks and reconciliations. “With Adra, our Controller now has a good understanding of where we are in the close cycle or if a particular task is holding us up which has provided a lot of clarity,” continued Wazat. “A central dashboard showing us 15 accounting professionals are working on a checklist of 100 items allows us to clearly see whether a task is a dependency for something else or if there are any blockers, so the visibility was a huge win.”

Employee of Kuerig Dr Pepper working thorugh the financial close

Seamless Netsuite Integration

In addition, connecting SelectQuote’s ERP, NetSuite, to Adra Balancer has been a big-time savings for their team. “We went from a world of downloading reports out of NetSuite into individual spreadsheets to balance reconciliations, and now we don’t have to download anything. With a click of a button, all the NetSuite balances appear within Adra Balancer,” said Wazat. On top of saving time, the integration of NetSuite with the Adra Suite also alleviates the risk of their team downloading multiple versions of the same report. “With Adra Balancer, we know that everyone is looking at the same balance every single morning when we pull the data from NetSuite.”

“Adra has had a discernable impact on our close process, and the solution is very well received,” said Wazat. With increased visibility, ERP integration into NetSuite, and a continuous documentation trail, the SelectQuote team can close quickly and confidently and devote more of their time to projects that add value to the organization.

In the future, SelectQuote would like to further explore the capabilities of the Adra Suite to discover how it can be used outside of their Finance and Accounting team.

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