Conagra Brands is one of North America’s largest packaged food companies. The company is a Fortune 500 company with net sales totaling approximately $18 billion while employing more than 36,000 people. Its balanced portfolio includes consumer brands found in 97 percent of America’s households. The company continues to transform itself into a cohesive company with three business channels – Consumer Foods, International Foods, and Commercial Products. The company reconciles more than 16,000 accounts consolidated into approximately 1,425 reconciliations. Due to the company’s growth, it anticipates these numbers to more than double.
Conagra Brands selected and deployed Trintech’s reconciliation solution to obtain a comprehensive tool that was scalable and would grow with the business.
Conagra Brands wanted to implement Trintech’s cloud-based reconciliation solution so that financial center employees company-wide could use the technology and have full accessibility anytime, anywhere. After implementing Trintech’s reconciliation solution, Conagra Brands achieved immediate visibility and complete transparency to all closing tasks and associated journal entries, along with online review of supporting quarterly SOX and other regulatory controls.
Ahold Delhaize’s preparation and review of the monthly reconciliations was a daunting and time-consuming task with no visibility into whether the reconciliations and closing tasks had been completed on time, if supporting documentation was attached, or more importantly, if there were any issues that needed to be resolved. They wanted to implement a solution that increased control and visibility of their general ledger reconciliation, and to improve overall efficiencies.View Customer