Client Study: Business Transformation
Global Accounting Model Implementation
Client: Global Derivatives Firm
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Business areas Impacted: Front office Trading, Margin Accounting, Middle Office Product Controllers, Back Office Operations, Regional and Corporate Finance, CFO organization, Compliance, Accounting Policy, Audit and control
The Challenge
Business Transformation agenda needed to address lack of transparency into the accounting engines resulting in significant cost of “Staging & Repair” work and constraints in supporting business strategy
Business Value Created
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Common accounting rules to support enhancements in the Finance operating model
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Transparency into the accounting entry creation process for the controllers
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Automation of end-user-tools used to address breaks in the accounting process
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Drill down to the source books and records data that was used for accounting
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Reduction in Finance cost
How did Aggrego Help?
Led Business re-engineering workstream and assisted integration partner and client leadership in a number of projects to realize transformational benefits
Business analysis of current state accounting in black boxes, spreadsheets, paper, heritage platform accounting engines, packaged accounting engines
Developed a global accounting model for the business and validated the same with the accounting policy and controllership teams. Data analysis was performed to support a prototype spreadsheet model to select a platform
Led platform evaluation RFP and selection jointly with the global controller, Chief Procurement Officer and regional teams
Developed and executed multiple conference pilots to configure and validate the accounting rules and ledger design
Designed and tested drill down capabilities from financial statements to trading data stores