Clarity, confidence and cost savings to financial close
Getting the most out of your process in a timely manner
A fast growing Russian banking group used BCS integrity to significantly reduce the amount of time taken to complete their monthly sign-off process, whilst also increasing the consistency and level of detail that their sign-off users were able to provide.
With teams of differing experience, based in multiple geographic locations, each with a separate priority on balance sheet attestation, executing a multi-level sign-off process often took longer than expected and, in some cases, was not carried out at all.
Our client found that managing and enforcing a sign-off timetable, over different processes and locations, proved a complex and awkward prospect every month.
By implementing the localised working day timetables in BCS integrity, our client succeeded in segregating users’ access to the system depending on their job role. By combining timetable functionality with automated email alerts for overdue accounts, users are now able to know when they are expected to do their work and senior management can monitor the timeliness of their attestation submissions.
Excel uploads and bulk activities
Whilst our client wanted to speed up the month end close, they also needed to improve their account sign-off coverage across their organisation and capture any non-reconciling items, material or otherwise. The BCS integrity Excel breaks upload functionality allowed the end-users to input and update breaks offline, before uploading them to the system in bulk. The advantage of this is that users have the familiarity of the Excel interface to work on their breaks, whilst still maintaining the automated control and data validation within BCS integrity.
BCS integrity’s bulk documentation attachment and account certification features also enable users to certify accounts quickly and focus on resolving issues and exceptions.
Our client now has a more timely and consistent month end process. Even though it differs in scope and timing across their different global locations, they can manage all of these with minimum effort directly within the tool. By using the timetables, automated alerts and effort saving bulk actions, they are now able to do much more, in significantly shorter period of time.