The Challenge: The Progress-Preventing Burden of Legacy Systems in the Reconciliation Process
For one of Africa’s top financial institutions operating across 18 countries, reconciling revenue data across source systems, subledgers, and general ledgers was a complex, time-consuming task. The existing process relied on manual Excel sheets, leading to inefficiencies and increasing the risk of errors.
The client’s reconciliation model, crucial for comparing CRM data with ledger financial data, was originally built on QlikView. This model only accounted for income statement values, leaving teams to perform manual reconciliations across multiple Excel sheets — an unsustainable process that hindered productivity and accuracy.
The need for change was clear. The client required a more scalable, agile solution that could streamline the reconciliation process, ensure data accuracy and enable more frequent updates.
The Solution: Seamless Reconciliation Model Migration to Power BI
Our team stepped in to migrate the reconciliation model to Power BI, a platform that not only supports regular data refreshes but also seamlessly integrates income statement and balance sheet values. This eliminated the need for manual comparisons and significantly reduced errors.
To ensure the smooth transition, we invested in understanding the client's data hierarchies and built ETL (Extract, Transform, Load) packages to capture monthly snapshots of data. We also introduced a Power Apps feature that allowed teams to capture monthly commentary, adding depth to their financial analyses.
The Results: Streamlined Operations and Elevated Decision-Making
The migration to Power BI delivered immediate benefits. Product controllers now have a centralised platform where they can easily verify datasets and identify discrepancies. The new system has dramatically improved the efficiency and accuracy of financial data reconciliation, enhancing the quality of the client’s financial reports.
This transformation has equipped the client’s teams with superior insights, enabling more strategic decision-making and driving continuous improvement.
Looking Ahead
With Power BI in place, the client is set to introduce future enhancements that will further improve their financial reporting capabilities. This case study demonstrates how adopting innovation can unlock unprecedented levels of efficiency and data quality.
What’s Next for You?
Are you ready to adopt a more innovative approach to implementing technology that streamlines your processes and enhances decision-making? Get in touch to discuss how we can support your transformation journey.
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