Exploring the account-to-report process with a comprehensive case study from The Hackett Group.
Before this $40 billion global company’s initiative to improve its approach to its global balance sheet reconciliations, the process was extraordinarily complex due to the sheer number of employees, functions and markets involved.
The company has over 600 legal entities and 100,000 balance sheet accounts which required more than 47,000 annual reconciliations by 900 reconciliation preparers and reviewers. Given this level of complexity, a project team was created to revamp outdated global processes using new, third-party technology to transform their financial processes and implement governance-related changes.
Today, the company has centralized the reconciliations process in its shared services organization and consistently demonstrates a culture of ownership and accountability.
Download The Hackett Group white paper today to read the complete case study and learn how you can improve the reconciliation process for your organization today!