Automation Transforms Record-to-Report Processes
Shift Accounting and Financial Processes Toward Transparency and Innovation
Accounting and finance teams are under near-constant pressure to innovate their processes for greater efficiencies and a competitive edge. This has led to the integration of emerging technologies such as analytic tools and robotic process automation, allowing finance professionals to focus on broader financial strategies across the enterprise.
That drive for innovation and efficiency led a technology company’s shared services business unit (SSBU) focused on industry, infrastructure, transport, and healthcare to embark on a challenge: Manage the accounting and financial processes spanning across all of the company’s business units. The expanse of SSBU’s responsibilities and the competitive environment has required an investment in innovative automated technology to transform its record-to-report process into a seamless operation.
SSBU’s record-to-report optimization manager says they want to be competitive in their market and in the minds of the customers they service. “As we all know, there’s always new technologies emerging that are critical to our record-to-report world, especially for finances. What we can’t do is believe there’s a line in the sand signifying an end point, because that line keeps moving as new technologies and solutions enter the market.”
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In this article, learn:
• How a technology company’s shared services business unit (SSBU) managed the accounting and financial processes spanning across all of the company’s global business units, achieving true end-to-end organizational visibility.
• What the company did to transition from a manual to automated record-to-report process, requiring significant buy-in and change management from employees who needed to adapt.
• How the business used a use-case approach to find its influencers reach the end customer and demonstrate the future state of the business.
• How the company is gaining one source of truth through SAP S/4HANA, and using a financial close solutions provider to manage its several ERP solutions.
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