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Transactional and master data validation for group reporting

The client had its operations in almost all countries across the world with a very complex technology landscape. The client had detailed standards for group management reporting, with all transactions having to comply with these standards. However, during the month, numerous manual postings were made which were non-compliant with the group reporting standards, as there were no validations during the transaction entry. This led to the transactions being flagged only during the month-end, leading to an increase in MEC closure and management reporting.

The Thoucentric program managed the entire implementation of building transaction at entry-level validations to prevent erroneous transactions. By analyzing the entire technology landscape, we were able to identify the different platforms that could act as the source of the transactions and help build the appropriate validations in these systems. The validations were based on a combination of four SAP instances and an Ariba instance, as well as various local technological platforms from over 120 countries.

Thoucentric was also responsible for ensuring all master data was corrected as part of this project so that no non-compliances occurred when transactions were entered. In addition, the process of creating master data has been updated to ensure that all attributes are validated during the creation phase. Furthermore, Thoucentric helped create the change management process and the support service model to ensure minimal disruption to business.

Post the implementation of the transactional validations, there was a significant improvement in the accuracy of the transactions with respect to the group standard. More than 99% of the transactions were compliant with the group reporting standards at the time of creation, requiring no intervention by month end. This reduced the MEC closure time by 0.5-man days per country. Change in the master data creation process also ensured that the new master data created was 100% compliant with the group reporting standard.

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