Challenge and Opportunity
A client and leading technology company with clients across the world wanted to implement a new financial management system that could analyze and predict anomalies in its general ledger.
Our Approach
- The technology company wanted to better predict its internal income/expense processes to predict financial performance.
- Using Microsoft Power BI and other tools, our team integrated the company’s internal general ledger into a new system which could analyze and predict anomalies.
- The system identified numerous anomalies related to vendor payments which were misclassified or inaccurate. This resulted in the company implementing new controls for the accounting team to use moving forward.
Results
The implementation of the new system correctly predicted many general ledger anomalies and after the implementation of new controls, the company is now able to manage its cash flow in a more effective way and began looking into more analytical wins.
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About the Author
Keiter Technologies
Keiter Technologies focuses on serving businesses with their strategic technology needs through data science, cybersecurity, and IT audit and consulting.
More Insights from Keiter TechnologiesThe information contained within this article is provided for informational purposes only and is current as of the date published. Online readers are advised not to act upon this information without seeking the service of a professional accountant, as this article is not a substitute for obtaining accounting, tax, or financial advice from a professional accountant.
