Monthly reporting optimization

Monthly reporting optimization

Objective

Approach

Define a global approach for handling group reporting

1Diagnosis
To diagnose reporting terms: to highlight optimization needs in terms of tasks, to identify bottlenecks in the existing process, to establish possibilities of automating the process, to review overlaps and uncovered areas, etc.
2Definition
To Define a target in terms of the internal reporting process
3Identification
To identify impacts of the defined target on the organization, systems and processes

To develop and implement an action plan

1To review methods
To review methods of accounting allocations
2Hierarchy overhaul
Analytical overhaul of the hierarchy to conform to new expectations and limitations of group reporting
3Creation and updates
To create and update analytical allocation rules in information systems
4Reassignment of tasks
To reassign the tasks of accounting production, analysis and cross-team checks between the accounting, reporting, and operational management control teams
5To conduct tests
To conduct tests on the solution developed and set up an ongoing improvement process

Results : Cut financial information reporting timeframe by 3 days

(from D+4 to D+1)