$500m company cuts Month-end from 2 weeks to 2 days!

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Imagine what they can do with the time and money they saved!

My client is a major supplier to grocery stores. Since introducing CALUMO they have:

cut 8 days off their month-end reporting process saving around 226 working days in the year, and
reduced the finance team by 1 FTE. That person left for another opportunity and they weren’t replaced. That’s a big deal!

Before CALUMO, my client had 2 people working for 10 days on month-end reporting. That entailed an extreme amount of manual labor in Excel. Data was exported via a BI tool (I can’t believe a tool that creates a flat file dump to Excel really is a BI tool). That data was then handcrafted and turned into a set of reports in Excel over the 2 week period. The data was moved from sheet to sheet, changed ever so slightly, mapped, remapped, pulled apart, extrapolated, put back together again, new detail inserted and the list goes on. The big pain points were consolidation and elimination entries done manually and spreadsheet based allocations. There was no audit trail and if the spreadsheet broke, you can imagine the pain. Can you imagine staring at a spreadsheet for days and days hoping the numbers balanced in the end?

At the end of the process, the reports were sent out to the managers in various states for their review. They would compare, complain and pick holes in the reports and ask loads of questions. This had to stop.

CALUMO was introduced and the place is completely different. Month-end is automatic. Finance now literally hit a button and the reports are ready. There are still some manual data changes but there’s now an audit trail and the data fully reconciles to the general ledger and sub ledgers. Mapping and data manipulation still takes place but it’s automatic and easily repeatable. And the reports? They are all Excel AND web-based so people get instant access to information. Managers can drill through to their reports and get the data they need. The questions to the finance team have stopped because people have the answers in their hands.

The 2 weeks of hacking and slashing in Excel has gone. The errors are gone. The 8 days of manual work to move data from one company or major product group is over. The triple checking of spreadsheets to ensure the numbers look correct doesn’t happen anymore. The manual variance reporting is now fully automatic.

I can’t wait for their auditor’s report. :)

My client is very happy. They now have time to work on other things like their next project, streamlining the budget process with CALUMO.

If you want more information on this, please contact me at wleitch@calumo.com.

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