Case Study: TECO Maritime Group achieves automated accounting, consolidated reporting and scalable growth with Xledger

TECO Maritime Group - Customer Case Study

TECO Maritime Group, a provider of environmental installation technology for ships and rigs with 20 companies from Houston to Singapore, needed better financial insight and control as it grew. Their legacy accounting system required a major upgrade, so TECO chose the cloud-based financial/accounting system Xledger to meet three core requirements: cloud deployment, automated processes, and a corporate structure that supports multi-entity reporting.

Xledger implemented a standard, cloud financial platform with automated accounting tasks and a top-level corporate chart of accounts that new entities inherit, giving TECO consolidated reports and live financial views. As a result, TECO saved the equivalent of a full-time role through automation of document and banking tasks, can onboard and connect multiple companies more easily, and now benefits from faster consolidated reporting, reduced reporting effort, and lower risk of accounting errors thanks to Xledger.

TECO Maritime Group

Christian Fr. Thyholdt

Chief Financial Officer