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.
