Month-end close orchestration

By implementing this process, one Catalytic customer gave two days back to financial analysts. The customer’s previous manual process is eliminated and improved so that all business leaders have a view into where overages are occurring.

Challenge
Solution
Outcome
catalytic-customerjourney-graphic-successplanning

Challenge

Month-end close took a team of people several days, cross-checking results and gathering input on numbers and analysis.

catalytic-customerjourney-graphic-adoption

Solution

Catalytic gathers financial data at the end of each month. Anomalies are automatically identified for further investigation. Tasks are assigned to each cost code owner for explanation, before final approval and distribution of monthly reports.

catalytic-customerjourney-graphic-maturity

Outcome

The accounting team was able to close two business days faster than before and more reliably resolve conflicts than they were able to before.

Month-end close workflow in Catalytic

Upload monthly expense and revenue data

1

Identify anomaly line items

2

Lookup cost code owner and assign a task for resolution

3

Consolidate commentary into master report

4

Notify accountant once all items are complete

5

Tagged:

finance ops

tasks forms

document assembly

data processing

Created by: Catalytic

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Master data management

Watch this Catalytic demo of a supplier workflow that collects and analyzes data, then updates a system of record.