Sessions

More Efficient Closing Process Saves Time and Informs Decisions

There are necessary delays built into every cost accounting closing process to ensure data accuracy and completeness. However, preventable delays have a detrimental impact on the ability to make informed organizational and departmental decisions. Using a cost management analytics application, along with an EDW and integrated data sources, UPMC revolutionized their costing system resulting in a 5-day reduction in their monthly closing process.

Results

  • What used to take 6 business days is now completed in less than 1 day, with valuable financial data delivered much sooner.
  • Reduced 60 human touchpoints and opportunity for error.
  • Enhanced validation of source data simplifies maintenance.
  • New governance structure enabled by data analytics.

 

Apply to be an Analytics Walkabout Speaker

  • This field is for validation purposes and should be left unchanged.