Can you imagine the risk associated with managing a $58 billion balance sheet in excel?
AstraZeneca struggled with a lack of standardisation and visibility over its reconciliation process and wanted to achieve global standards in the account reconciliation process to eliminate inefficiencies, improve compliance, increase balance sheet visibility and reduce costs. They quickly realised that the only way to achieve global visibility and a world-class reconciliation process was to simplify, standardise and automate the Record to Report process.
Since implementing Trintech’s reconciliation solution, AstraZeneca has:
- Discovered $2.5 Million in savings
- Improved productivity for 300 finance employees
- Increased compliance across 26,000 accounts
- Improved balance sheet integrity
- Eliminated spreadsheets and accelerated the monthly close
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