Case Study
Automating our financial consolidation with FinAlyzer made our statutory reporting simple, auditable, accurate and efficient by 60%
Industry:
Automation & Robotics Technology
Overview:
- PARI provides world class Automation and Robotics technology that makes manufacturing Smarter, Faster & Safer.
- PARI hosts one of the Worlds largest automation and robotic engineering teams under one roof with over 2000+ man years of automation experience.
- Over 1000+ employees of which 650+ qualified engineers in machine design, controls, software, manufacturing quality control, equipment manufacturing and project management.
- PARI has deployed over 1500+ automated systems worldwide.
The Challenge
The consolidation of PARI’s 5 entities (in India, US, Germany) , multi GAAP & multi currency, was done manually. Handling inter-company eliminations, forex translations, casting, GAAP differences, reclassifications, minority interests & management reporting where proving to be time-consuming, effort intensive and error prone
The Objective
The primary objective of automation was to eliminate the complexities of processes around financial consolidation & reporting and have confidence that the numbers are accurate.
The Solution
PARI leveraged FinAlyzer® to fully automate financial consolidation and statutory IFRS reporting. All the previously manual activities like inter-company eliminations, forex translations, GAAP differences, minority interest computations etc. were fully managed within FinAlyzer.
The Results & Benefits
FinAlyzer helped PARI speed up the completion of the financial consolidation process by 60%. The productivity savings helped the finance team spend more of their time in analysis and less time on repetitive manual activities. Casting and Inter company eliminations, which were among the major challenges earlier, were fully automated & thereby generating fully accurate and timely financial reports.
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FinAlyzer accelerates consolidation & reporting for TalentEdge by 85%
Back to Customer Case Studies Case Study FinAlyzer accelerates financial consolidation & statutory reporting for TalentEdge by 85% “Our approach to streamline and modernize reporting
PDS improved their close & consolidation process & reduced time by 65%
Back to Customer Case Studies Case Study Migration from manual to distributed cloud enabled PDS improve productivity of close & consolidation process and reduce cycle
