The CFO office of the global Automotive Supplier (the Client) was facing an elongated
book close and consolidation cycle time of ~ 4 work weeks and sub-optimal use of
their finance teams due to the manual nature of collating data and generating
financial information. Due to a string of acquisitions and mergers, the client had
around 150 legal entities supported by a wide spread of ERP systems of different
makes, variations in accounting policies & procedures and non-standard business
processes. This complexity also required a significantly high count (around 1300
finance professionals) to support finance operations.
The desired eventual outcome from the CFO office was to reduce the book close cycle
time to ~1 week, improve human resource productivity by at least 20% and improve
reliability of financial information.