A European Global Engineering Conglomerate with operations spanning over more than 45 countries entirely transformed its Finance and Accounting System in the recent past. Financial data reliability has acquired the greatest significance through Smart Automation in Finance and Accounting and helped propel this giant corporation on a high growth trajectory.
Founded in the early 30s in the last century, this Multinational Engineering major is a famous name in global Industry circles and has multifarious business interests in different fields such as AC Drives, Appliance controls, Compressors for Heating and Refrigeration, Sensors, Steering and Switches, and many more. The facilities have more than 50 factories in almost 20 countries and employ more than 20,000 people across the world.
The company’s global operations were effectively handled by its talented workforce however an immediate need was felt for combining assets, liabilities and other financial items of several subsidiaries and multiple business entities within the organization, and rolling it up to the parent organisation for reporting purposes.
The company recently streamlined its business operations across all geographics and improved financial controls by customizing available ERP through Smart Technologies. Error-free numbers in Accounting processes resulted in more accurate, reliable and standardised financial statements, and game-changing decisions in diversified business areas to keep pace with rapid urbanization and ever-expanding customer base.