S+H Consulting

Case Study

Close Process Coordination & Optimization

Building Materials

INDUSTRY

500

EMPLOYEES

$250M

ANNUAL REVENUE

Background

Our client acquired 11 business units over a 24 month period. These business units operate on 7 different general ledger systems. The accounting and finance workforce responsible for these business units was actively being consolidated with evolving duties and responsibilities.

Objective

  • Prepare a global close calendar across all business units.
  • Measure the balance by tasks by employee and day to identify burdens, roadblocks and improvement opportunities.
  • Design pre-close process to relieve burdens and accelerate timelines.
  • Proctor the close process to enhance review process and coordination with finance functions.

Solution

  • Interviewed 15 accounting and 3 finance employees to document close process duties.
  • Accumulated close process tasks identifying 225 close process tasks.
  • Reviewed and monitored general ledger transactions for undocumented close tasks.
  • Proctored 2 monthly closes processes.
  • Evaluated tasks by employee, functional process, and timeline to identify close cycle improvements of accuracy, timeliness and control.
  • Trained leaders to manage close cycle process to maintain improvements.

5 day close process improvement
Enhanced accuracy through improved review oversight of controllers and finance functions
Reduced close cycle burdens across accounting and finance functions

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Knowledge Hub

Close + Reporting Process Enhancement

Interim Controller + Acquisition Integration

Tuck-In Acquisition Integration

Accounting Software Selection

Gaming Finance, Accounting, + BI

Interim CFO Engagement

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