Financial accounting success stories
| Business requirements: Financial Services |
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Complex Financial reporting across many legal entities Analysis of specific business unit segments across multiple companies Many large journals based on input from external systems Integration between legacy systems that are not “accounting aware” and Dynamics GP |
Benefits achieved:
- Standard financial reporting tools provide ability to report on individual companies or groups of companies as required.
- Reporting trees allow for segmental analysis across any selection of legal entities.
- At one client month end processing of journals was reduced from three weeks to less than one week
- The use of event based, interpretive integration technology has enabled us to build integration with such legacy systems where a single “event record” in an integration file can be used to generate all of the accounting entries required to account for the event, including payments, EFT generation, journal entries and debtor transactions.
| Business requirements: Corporate Head Offices |
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Complex, multicompany environments, requiring complex financial reporting Many intercompany expenses and cost allocations Centralised control of international projects |
Benefits achieved:
- Standard general ledger and financial reporting capabilities provide the ability to structure and account for such environments.
- Automation of intercompany processing has enabled clients to free up the time of expensive accounting staff to focus on higher value add functions. Single point of entry for intercompany transactions reduces datacapture load, and eliminates the need for additional reconciliations.
- Multi-currency and tree based reporting structures have enabled clients to control and report on international projects, spanning many geographies, whilst simplifying centralised control on such projects.