Case Study: Riskified achieves faster, more compliant close management with Numeric

Riskified cuts flux analysis time by 67% with Numeric

Riskified, a public fraud prevention company, faced significant challenges during its month-end financial close after going public. Its previous tool, FloQast, provided a basic checklist but lacked the sophisticated automation, analytics, and multi-layered reporting capabilities needed for SOX compliance and efficient operations. The team was burdened with manual processes, including downloading data and creating pivot tables in Excel, which was time-consuming and error-prone. This led them to seek a new solution, which they found with vendor Numeric.

By implementing Numeric, Riskified automated its financial close and gained powerful analytics. The platform provided live, flexible reporting and AI-powered flux analysis that reduced the time spent on that task from three days to just one, a 67% improvement. Numeric also automated balance sheet reconciliations and provided real-time notifications for changes, ensuring SOX compliance. The solution saved the team significant time, allowing them to shift focus from manual process work to strategic analysis, fundamentally improving their close experience.

Riskified