Challenge
- Prolonged consolidation times
- Producing C Corp and Master Limited Partnership filings required multiple consolidation passes between two data scenarios
- Regulatory filings prepared manually, presenting difficulties staying in sync with the book of record
Solution
Chart of accounts rationalization- Leverage FDM to map PeopleSoft data
- Streamline existing business rules
- Create reporting structures
- Prepare C Corp, Partnership, and regulatory (FERC) reporting using same underlying data
The solution has been running in production since 2012
Benefits
- Streamlining the business rules reduced consolidation time by 90%, delivering C Corp and Partnership filings via one consolidation pass utilizing the same underlying data
Manual entries and offline calculations were reduced by 75%, eliminating several days from the monthly close cycle- Eighty percent of the cash flow was automated
- Ninety percent of the regulatory filing (FERC) was automated
- The redesigned business rules and data tracking capabilities allowed audit reports to be provided with less manual intervention