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CASE STUDY

Pivoting the power of effective reporting

Client Overview

A Global biotech company that focuses on developing plant-based hemp solutions signed a National Distribution Agreement that led to increase in their workload multifold.

 

Client Challenges

  • In order to reduce the cost of operations and fulfill their increasing need for qualified accounting staff. They did not require pure ‘number-crunchers’ but rather qualified accountants who were dynamic, fundamentally sound, and had the ability to think ahead while giving due consideration to the inherent complexities of their reporting requirements.
  • The Board of Directors and auditors were very focused on the top line. A2X migration and clearing accounts reconciliations were the key financial control measures those were missing.
  • Low quality assurance on reconciliations standards.

befree’s Solution

  • SOP creation and setting up of reconciliation processes.
  • Designing of BI tools to track Traffic, Order details, Customer engagement, and Conversion Rate.
  • Data for necessary KPIs were brought in from multiple accounting software to create a data pool that could grow periodically.
  • Staying true to the brief, consolidated data from multiple sources and automating it with VBA, coupled with a pleasing dashboard helped CFO get a clear and real time visibility of the processes.
  • Designed a robust reporting system to deliver the desired report.

The CFO was empowered with a long-term solution to a recurring problem.

An effective reporting tool streamlined communication with the management and board of directors.

The collation of data streams onto a single platform permanently streamlined the flow of information in an easily consumable format.

The interactive dashboard transformed simple data into actionable information.

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