An AXS listed education provider with a number of subsidiary companies approached Spatial Partners to automate a segment of their financial reporting process. Spatial Partners was able to reduce the time to produce reports from 30 days to just 17 minutes!
The company that approached Spatial Partners is an AXS listed education provider with a number of subsidiary companies, each with their own separate accounting systems, and individual chart of accounts.
Preparing unified monthly financial reports for each entity as well as consolidated financial reports was taking about 30 days. In other words, it was taking a whole month of work to produce one month of financial reports!
Our solution was to create a micro integration between Lavastorm (a business analytics tool) and the accounting packages (all in the cloud).
The result was a set of unified financial reports in just 17 minutes! An added benefit of this solution is time critical information for daily business decisions.