Case Study

Migration from manual to distributed cloud enabled PDS improve productivity of close & consolidation process and reduce cycle time by over 65%

Om Prakash Makam
Chief Financial Officer

Industry:

Apparel & Textile Products

Overview:

  • PDS Multinational is a billion-dollar global apparel design, manufacturing & sourcing company.
  • PDS works with over 190 leading retailers and brands, supplying to some of the world's leading brands, including Zara, Walmart, Mango, NEXT, Superdry, Jack Wills, Topman amongst many others.
  • PDS operations are spread over 50 offices in 18 countries, supported by 2,800 Associates and 4500 factory workers producing 1 Million pieces everyday

The Challenge

An extraordinarily complex  set up was being managed largely through manual processes. Multiple attempts at automation had failed in the past. With finance teams spread across various geographical locations, timely close and reporting were proving to be very challenging, often extending to the last minute before board meetings.

The Objective

Ensure monthly reporting cycles are not extended  and delivered within stated timelines. Reduce high effort overheads and generate quarterly statutory reports accurately and on time.  Enable the management with improved reporting for decision making.

The Solution

PDS deployed FinAlyzer to improve its financial consolidation & reporting for both management insights as well as statutory reporting.  To support federated a finance team spread across various countries, PDS selected distributed cloud hosted model to provide a controlled & well orchestrated global consolidation and financial reporting system.

The Results & Benefits

FinAlyzer improved the productivity of their close and consolidation process and reduced the cycle time by over 65%. Direct interfaces to source systems, role- based access and audit trails helped increase consistency and accuracy of the data.