Case Study

Consumer Product Food Company

Client challenge

  • Company produces a number of shelf products for sale in grocery stores globally.

  • The accounting close cycle time was below average based on benchmark data.

  • The slow close caused a delay in relevant management information for use in decision-making.

Solution

  • A current state assessment was performed to understand the key levers of the operating model and how they impacted the close.

  • A review was made of the Chart of Accounts to evaluate complexity.

  • A portfolio of improvement initiatives and a transformation roadmap were developed to reduce the scheduled close.

Results

  • Monthly close cycle was reduced from nine days down to five.

  • Managers received preliminary statements by day 2 to get an earlier view of financial results.