Tech upgrades transformed a global investment firm’s reporting and operations
14
We implemented a structured, auditable process to seamlessly manage and distribute chart of accounts changes across 14 systems.
At a glance
Client
Large global investment firm
Industry
Asset management
Our role
Design system for agile reporting
Our solution
Automated feeds into the ledger
Automation speeds up reporting — and reduces risks
Scenario
Outdated financial systems slowed reporting, forcing teams to manually update spreadsheets every month — wasting time and increasing risk.
Approach
We modernized finance with Oracle Cloud ERP and EPM, automating workflows and seamlessly linking operational data to financials.
Result
Automated revenue and ops feeds slashed processing time, eliminating manual tasks and allowing teams to focus on strategy.
Scenario
A global investment management firm struggled with outdated financial systems, slowing operations and making reporting inefficient.
Each month, millions of revenue transactions were manually loaded via spreadsheets, and an outdated chart of accounts made adapting reports to organizational changes slow. SEC reporting relied on offline processes, further delaying insights.
Decision-makers lacked real-time data, hindering timely strategic choices. Meanwhile, the investment solution was entirely offline and managed in Excel, requiring extensive manual work.
The operational transfer pricing solution also was spreadsheet-based, making it unreliable, non-automated and difficult to repeat. These manual, error-prone processes created significant financial and compliance risks, especially for financial close and tax reporting.
Approach
Grant Thornton guided the client in evaluating technology solutions, ultimately helping them select Oracle Cloud ERP and EPM over Workday because of Oracle’s ability to accommodate multiple systems within a single platform.
The Oracle solution streamlined financial processes, allowing the client to handle complex consolidations, reconciliations, profitability analysis, cost management, and transfer pricing — all within a single platform.
To enable more agile reporting, we redesigned the common chart of accounts and built an auditable, governed process to manage and distribute changes across 14 systems.
We also implemented Oracle Fusion Accounting Hub, integrating data across systems to provide real-time visibility and analysis — down to the customer level.
Result
Governance over the chart of accounts improved reliability and consistency across the client’s financials. Replacing manual, Excel-based processes reduced risks and enabled more agile reporting, with better access to data for strategic decision-making.
By streamlining customer profitability reporting, the client gained new insights to drive smarter decisions.
Taken together, the streamlined, integrated systems provided state-of-the-art enterprise performance management capabilities, enabling the organizational agility that’s necessary to pursue data-driven strategies in a timely fashion.
Related resources
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This Grant Thornton Advisors LLC content provides information and comments on current issues and developments. It is not a comprehensive analysis of the subject matter covered. It is not, and should not be construed as, accounting, legal, tax, or professional advice provided by Grant Thornton Advisors LLC. All relevant facts and circumstances, including the pertinent authoritative literature, need to be considered to arrive at conclusions that comply with matters addressed in this content.
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