Build automated data pipelines to significantly reduce turnaround time. Expedite month-end closing process from a week to just 4 hours
The Results
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The Execution
An eminent Indian e-commerce entity specializing in fashion, beauty, and lifestyle products, faced significant challenges to expedite their financial month end closing.
The customers finance team were manually calculating and reporting their month end closure taking between 7-to-10-man days to complete. Compounded with the high turnaround time to resolve data discrepancies and provide clean data, this further impacted other dependent finance activities such as accounts receivable, account payable, and inventory.
ADA helped to reduce the turn around time by building automated data pipelines that calculated the various figures required for their financial reporting (e.g., tax, commissions, stock transfer notes, good received notes).
ADA built data completeness checks and split the month end closure activity into separate phases (Phase 1: start of month till 24th of the month, Phase 2: 24th till month end) allowing us to quickly identify and resolve any data discrepancies early on.
