Financial data quality remediation - Be Shaping The Future

Financial data quality remediation

The brief

A blockchain-based payment start-up implemented a new Enterprise Resource Planning (ERP) system. Due to an ill-defined data governance framework and poorly defined financial operating model, the set-up of the ERP was inadequate. As a result, it limited straight through processing​, required manual data entry and manipulation, resulting in a high risk of inaccurate financial data and reporting.

Our approach

To develop a financial ecosystem that would drive efficiency and accuracy, we:

  • Diagnosed the root cause of the issue​
  • Mapped out clear data lineage and identified golden sources of data across the Finance​ function
  • Implemented clear roles and responsibilities with regards to financial data and its ownerships​
  • Cleansed financial data within the ERP and procurement data sources​
  • Increased automation with the current set of tools to allow creation of timely reporting to support strategic decision making​

The solution and key benefits

We created the foundation for a financial ecosystem where production activities are seamless and require low manual intervention. The ecosystem also provides the basis for advanced analytics and insight generation that can facilitate real-time business decision making. This is key in moving from a resource-heavy, inefficient finance department to a department that truly adds value across the whole organisation.​ Operational risks were also significantly reduced in the process.​




Ready to begin?

If you have a query or would like to arrange an initial meeting to discuss how we can shape the future of your business, then get in touch and our team will get back to you shortly.

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