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Serco Group plc Increases Efficiencies and Reduces Enterprise Risk by Automating Financial Processes with Cadency® by Trintech

Key Takeaways

⇨ Serco emphasizes the importance of technology investment for enhancing efficiency and standardizing finance processes within the organization.

⇨ The transition to financial close automation addresses the challenges faced due to a manual, spreadsheet-dependent process, leading to improved accuracy in financial reporting.

⇨ Top-down commitment from leadership is crucial for implementing robust technology and processes to minimize risks and improve overall financial management.

See how after reviewing several technology providers, Serco decided to partner with Trintech and implement their Record to Report platform, Cadency.

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Looking to become a world-class finance function, Serco has always understood the importance of investing in technology to improve and standardize processes. “We had commitment from the top-down to ensure we had robust processes and technology in place to increase our efficiencies and reduce our risk across the business,” said Paul Adams, Head of New Business & R2R at Serco. At the time they began looking at financial close automation, Serco had been struggling with a highly manual spreadsheet-dependent process for its financial close, reconciliation and reporting processes. With multiple systems, different ways of working across the teams, and disparate processes among business units, there was a lack of confidence in the accuracy of the numbers they were reporting. “Previously, we didn’t have the technology in place that could quickly inform where potential risk lied within our balance sheet which was inefficient,” continued Adams.

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