Success at Swedish MultiNational Manufacturer

Learn how a large Swedish manufacturer improved financial data quality across 25,000 accounts and 50,000 cost centers.

Challenges

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.