Learn how a large Swedish manufacturer improved financial data quality across 25,000 accounts and 50,000 cost centers.
Download DocumentChallenges
Frustrated with Financial Data Inefficiencies
- Finance Team receiving up to 1200 change requests per year from 3 source systems creating operational inefficiencies
- Financial Master Data Hierarchy requests involve single and multiple hierarchy changes
- Manual process using Excel for logging issue requests. Errors were commonplace and became increasingly difficult to track across 25,000 accounts and 50,000 cost centers.
Strategy
Create Financial Data Management Strategy
- Find plug & play MDM solution that works with the in-house technology stack including SAP.
- Select a tool that works with SQL Server but better supports ongoing data management needs.
- Create Financial Master Records that can handle processing multiple change requests and provide detailed audit trail.
- Implement a business/data steward user friendly solution.
Outcome
Profisee Supports Strong Data Management Strategy
- Implemented multi-domain, central repository for mastered financial data
- Able to support line of business hierarchy management requirements for Accounts and Cost Centers.
- Established strong enterprise data management foundation;eliminated manual processes within existing systems framework.
- Further expansion planned for additional domains to support Finance.
