Accurate period-end closing is essential to understand the performance and finer details of the business. Built on SAP, our solution enables faster period-end closing while increasing accuracy by automating the process. The solution is actively processing data throughout the month, reducing the number of tasks at period-end. Our solution has reduced month-end close by 40% for our client Universal Music Group.
A powerful and flexible solution for faster closing
Our solution brings together several financial and controlling modules from within SAP, along with some bespoke solutions. This customised solution can process a high volume of data essential for month and year-end closing as well as eliminating reconciliation tasks, issues and errors.
Before our solution:
After our solution:
An alert management system defines errors and reports issues and exceptions as and when they occur
Implementation of tax regulations checks at transaction level to ensure no corrections or adjustments are required during month-end
Monitoring and Analysis
Closing cockpit is a tool from SAP to monitor and analyse closing related tasks centrally
Intelligence for clearing open items optimises open item management processes for sub ledgers
These gather external information in a reporting system which reduce reconciliation issues without manual intervention. Middleware acts as a bridge between source and reporting systems.
Standard processes which can be done in advance such as assessment and settlement will be carried out on a weekly or daily basis
High Volume Upload
Bespoke tools provide mass upload functionality of Finance, Controlling and COPA transactions with efficient checks and controls
A file manager tool is employed to track files received, processed and parked from external sources