Logistics
GLOBAL
ManUfacturing
The client
Our client is a global manufacturing client with a manufacturing facility based in the United States, Ireland, China, France, Germany, the United Kingdom, Austria, Ireland, India, and Spain. Our Client , a global supply chain manufacturer, managing facilities globally came to us to solution his challenge.
The challenge
Managing the business finances is a daunting task. Along with managing the day to day, cash-flow, revenue, profit, loss, margins, expenses of a business, there is End of Month, End of Quarter and End of Year processing and reporting which involves recording, reconciling, and reviewing all business transactions and finalising the account data for that period. It is needed to review any discrepancies in your accounts, address any issues in the business promptly and make tax filing easier.
Our client was experiencing up to 2-3 months delay on end of month processing
- One of our CFO’s was 2-3 months behind on end of month processing due to the cumbersome process of their current ERP systems and manual spreadsheets reconciliation. The CFO now has full visibility on He now sees his financial information, in real time, with the at click of a button, which has transformed his working life.
- The issue this business had was, even with a robust ERP system, there is still a lot of manual calculation, spreadsheets, and reconciliation between all the different systems and spreadsheets within the business.
The cost of this was TIME which puts a lot of pressure on the individuals involved.
The solution
The WrxFlo Financial management tracking solution, MS is a cloud-based solution which uses an API to connect to your business management systems (ERP MES CRM etc). WrxFlo securely encrypts the data and extracts the relevant tables into the WrxFlo platform. Once extracted, the data can be converted into the necessary metrics for the business. It connects existing financial management systems (ERP) and integrates with any other systems that the business uses on a day to day.
The result
Business outcomes:
- 6 weeks of a time delay brought down to 30 minutes
- This project took 2 weeks to implement.
- Provides a single point of information on financials of a company
- Very quickly, the CFO saw value from the software and was able to recoup significant time, to use elsewhere in the business.
- The client has an entire new suite of data and insights into the financial status of the company.
