Case Study: a global automotive supplier achieves faster finance close and greater data accuracy with Altimetrik's Universal Finance Ledger

Global Automotive Supplier cuts book close cycle time by 50% with Altimetrik

The CFO office of a global automotive supplier faced a major challenge with its elongated book close and consolidation cycle, which took approximately four weeks. This was due to a highly complex environment with around 150 legal entities, numerous disparate ERP systems, and significant manual processes that required a large team of 1,300 finance professionals. The client engaged Altimetrik to build a solution that would reduce cycle times and improve productivity without disrupting their existing source systems.

Altimetrik co-created a state-of-the-art Universal Finance Ledger (UFL) as a Single Source of Truth, implemented using a low-code Data Intelligence Studio platform. This solution integrated with Databricks, Snowflake, and AWS to harmonize data and provide actionable insights. The results were significant, including a 50% reduction in the book close cycle time, an 80% improvement in resource productivity, and full audit and security compliance. Altimetrik delivered a scalable platform that provided standardized global financial reporting and operational efficiency.