FINANCIAL VALUE REPORTING FOR FORTUNE 100 INTERNATIONAL SNACKING COMPANY

  • $25.5 billion in revenue
  • $65 billion in assets
  • 100,000 global employees in 127 countries across 6 continents

BUSINESS
NEED

  • Regulatory and audit reporting accuracy
  • Timely reports for monthly, quarterly, and annual reviews
  • Accuracy, especially around multiple versions of the truth, simplified auditing
  • Multiple source integration
    • Chart of accounts (M&A)
    • ERPs, EDWs, reports, etc.
  • Standardized KPI structure across multiple platforms
  • Foundation for data-driven actions
  • Reduce cost
  • Consistent, standardized set of data points

CHALLENGE

  • Quality and quantity of required reports delaying business decisions
  • Reporting 150-page documents across 5 business lines; executives review monthly, 15 days after month-end closing
  • Multiple ways to factor KPIs from acquisition growth (i.e., 8 ways to calculate GM, multiple CoAs)
  • 8 different ERPs driving inaccurate reporting
  • Auditing accuracy, timeliness, and cost of execution
  • Enterprise reactive and unable to make proactive decisions
  • High cost to manage financial reporting
  • Lack of data governance and inconsistent data rules and definitions

SOLUTION
& RESULTS

  • Reduced dashboard delivery from 360 hours (15 days) to 24 hours, enabling real-time dashboarding as a service (RaaS) for CFO’s office
  • 8 ERPs, multiple CoAs, and 3 EDWs curated into single data lake supporting 127 countries and 100,000 employees
  • Enabled regulatory reporting, signoff, and decision making, consolidating reporting into 4 dashboards; answering 95% of financial and tax questions
  • Qualified tax exposure, enabling analysis through dashboarding
  • Automated and simplified auditing with detailed lineage, reducing time by 18% and consultant’s cost
  • Standardized metrics and CoAs across the organization, increasing budget to plan accuracy and business understanding to enable proactive decisioning
  • Annual cost reduction of $2.3M = 12% ROI year 1