Case Study: LKQ Corporation achieves a faster, standardized month-end close—reducing days to close while executing 100+ acquisitions with Trintech

How LKQ Corporation Reduced Its Days to Close While Executing Over 100 Acquisitions

LKQ Corporation, a Fortune 500 leader in alternative and recycled auto parts, faced increasing operational strain from an aggressive acquisition program that expanded revenues from $328M to $12.5B. Multiple business units used separate processes and 25 Excel trackers, leaving 50–60 staff accountants with limited visibility, inconsistent reconciliations and a slow, fragmented month‑end close.

LKQ implemented Trintech’s ReconNET and Cadency to standardize and automate cash, balance‑sheet and close processes. The company now manages 21,775 reconciliations (13,000 auto‑reconciled), reconciles about $97M of cash with 70% auto‑matched in 0–2 days, and auto‑reconciles over 90% of intercompany records—enabling them to execute 129 acquisitions (2012–2018) and absorb growth without adding headcount. Results include a two‑day reduction in the monthly close (9→7 days), nearly 50% fewer cash specialists, and improved confidence and visibility across the finance organization.

LKQ Corporation

Janice Dailey

Accounting Senior II, Financial Systems Support