Client: Large US Financial Services Company
Solution: Aptitude Accounting Hub
Industry: Financial Services
Challenges: Legacy systems, manual processes
Finance-friendly user interface that allows the team to change accounting rules and build reports and dashboards
Closed-loop error handling which provides a full audit train with errors reporcessed automatically
Reduced costs and complexity by centralizing accounting and allowing for the decommissioning of nine source systems
Removed the restriction to a single batch run, allowing finance to post entries in near real time and run transactional files multiple times a day.
Provided a centralized hub for clean and conformed finanical data to support accelerated reconciliation activitites and end-to-end data lineage across the finance ecosystem
The solution went live just 10 months from design to launch
In addition to the technical aspects, a critical success factor was keeping the business team front of mind, enabling them to act independently of IT and putting more power in the hands of end users.
Principal, Deloitte
This large financial services organization offers retirement, insurance and wealth protection expertise and products to millions of customers across the US.
In addition to modernizing their finance architecture, they were looking to keep the business team and end users front of mind and enable them to act independently of IT. They also wanted to retain the value from existing systems and processes where appropriate while also sunsetting a number of legacy system that were holding their team back within the year.
The organization selected the Aptitude Accounting Hub (AAH) a finance management software solution that includes an accounting engine, ‘thick’ subledger capabilities, reporting and data feeds and a manual adjustments portal.
AAH is purpose-built to centralize and automate finance, accounting, and reporting. Providing business value far beyond smart finance and compliance, it empowers finance teams with total control of accounting rules and processes, all managed from a single location and designed with finance users in mind.
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