Case Study: Major Credit Management Company achieves streamlined, centralized account reconciliations and improved general ledger accuracy with Protiviti

Protiviti Helps Global Credit Management Company Streamline Account Reconciliation Processes

Major Credit Management Company engaged Protiviti to streamline and centralize its account reconciliation processes after discovering reconciliations were performed by multiple groups in different formats, with inefficient manual processes, no central repository, and limited visibility into status—creating regulatory risk and high month‑end close costs. Protiviti’s Finance Optimization team implemented an automated account‑reconciliation software solution and a targeted training/change‑management approach to ensure adoption.

Protiviti conducted a current‑state assessment, configured the new application, established governance and standardization, added automation (auto‑certification, reminders/alerts) and trained internal change champions. The work delivered a single source of truth, improved general ledger accuracy, reduced manual spreadsheet work and employee hours, lowered period‑close effort and direct costs, improved real‑time visibility and auditability. Protiviti notes its Finance Optimization engagements can shrink transaction processing costs by up to 30%, reduce error rates by up to 90% and compress cycle times by up to 70%.