Client Impacts

Reduced Month End Close by 52% Through Continuous Improvement for Distributor

Capabilities
Private Equity & Financial Sponsors Retail & Consumer Packaged Goods

Challenge

A wholesale tire distributor was averaging nearly 2 months to achieve Month End Close of their books due to issues with staff, data availability and uniformity, and communication with data providers.

The company needed help to drastically improve their internal processes and reduce Month End Close to less than 3 days.

Approach

  • Conducted interviews, implemented Continuous Improvement approach, and led Kaizen event to map current state processes
  • Identified root cause issues and deficiencies in urgency to close the books, timing of data availability, communication with third party data providers, and IT support to enhance and develop tools
  • Implemented solutions to reduce time to close including discussions with third parties and deadline implementation

Results

I.

Reduced Time to Month End Close by 52%

II.

Accelerated receipt of data through negotiations with third party providers

III.

Moved fixed asset and leases into the pre-close

IV.

Established future state processes to further reduce Time to Month End Close

Share

[shared_counts]

Related Services

Experts

Related Case Studies

Private Equity & Financial Sponsors, Industrials & Infrastructure
Transformed Systems Using Analytics to Reduce Overdue AR by 30% for PE-Owned Auto Parts Distributor
A private equity-owned auto parts distributor needed to transform their AR functions to optimize the collections strategy and improve the customer experience.
Please select Loop Item Template.
Retail & Consumer Packaged Goods
Transformed Onboarding Process to Increase Speed to Productivity by 50%​ for Distributor
A wholesale logistics and distribution company sought to reengineer its onboarding process to enable new hires to quickly add value and contribute to the organization's performance.
Please select Loop Item Template.
Private Equity & Financial Sponsors, Retail & Consumer Packaged Goods
Improved Process Controls Through Automation to Drive 40% Savings at PE-Owned Services Company
A private equity-owned marketing and sales support company wanted to evaluate the potential to utilize automation to streamline corporate functions.
Please select Loop Item Template.