Reconciliation of Financial Systems

Client

 A $4 Billion home, auto, life, health and valuables insurance company

Project Goals

Eliminate issues between various financial systems within the company in support of demutualization

• Reduce /Eliminate the size of GL suspense accounts that did not tie to other systems
• Reduce reconciliation workloads
• Produce accurate financial reporting from the General Ledger

Deliverables

This project produced and implemented the processes , supporting systems , and documentation to:

• Identify financial data feeds between systems within the company
• Identify and fix gaps between systems, either through system modifications or process changes

Results

• Company passed external financial audit of financial controls and information
• Reconciliation person hours were reduced by 70%