The firm's financial reporting was stuck in the past.
Due to the firm's growth into multiple entities, their manual reconciliation system wasn't built to accommodate their expanding needs.
This led to several challenges:
- Data was gathered manually, increasing chances of mistakes.
- Without dynamic reporting, comparing current performance to historical data or industry benchmarks was cumbersome.
- It wasn't just that reports were difficult to understand; users struggled to drilldown into the details and truly grasp the underlying transactions.
These constraints were not only slowing them down but also putting a damper on their ambition to strategically grow and succeed.