Case Study: a global manufacturing company accelerates financial consolidation and reporting with QueBIT and IBM Planning Analytics

Financial Consolidation & Reporting through IBM Planning Analytics and QueBIT’s ControlWORQ

Global Manufacturing Company, a global manufacturer of high-tech satellite communication and media solutions, needed a better way to handle a complex financial consolidation process across many geographies, currencies, ERP systems, and charts of accounts. Its existing system was ineffective, so much of the work had shifted to Excel, creating slow, error-prone, and stressful month-end reporting. QueBIT stepped in with IBM Planning Analytics and QueBIT ControlWORQ to address the challenge.

QueBIT implemented a new financial consolidation and reporting solution on IBM Planning Analytics, using ControlWORQ to automate journal entries and intercompany eliminations while improving validation, mapping, currency translation, and reporting. The result was a significant reduction in the time required to complete the global close and deliver reports, along with better accuracy and stronger analytics capabilities. The finance team also reported major time savings in monthly closing and more time for analysis instead of chasing data and entries.