Before DLC

• Repeated delays in month-end close. 
• Inconsistent and inaccurate financial reporting. 
• Inefficient manual processes and outdated reporting tools. 
• Lack of standardized procedures and inadequate documentation. 
• Limited financial visibility for key stakeholders. 

After DLC

• 30% reduction in month-end close time. 
• Standardized and documented financial close process. 
• Improved reporting accuracy and compliance. 
• Automated reporting tools reducing manual effort. 
• Enhanced financial visibility for leadership decision-making. 

Project Overview

A mid-sized technology company engaged DLC to streamline their financial close process and improve reporting accuracy after experiencing repeated delays in month-end close and inconsistencies in their financial data. 

The client selected DLC due to our extensive expertise in financial reporting, process optimization, and our ability to deploy highly skilled consultants quickly and effectively. 

Business Challenge

The client faced significant inefficiencies in their financial close process, resulting in delays and inaccuracies in financial reporting. Key issues included a lack of documentation, lack of standardized procedures, and resource constraints within the internal finance team. These inefficiencies not only impacted their ability to meet reporting deadlines but also raised concerns about compliance with regulatory requirements. 

Additionally, the client’s reliance on outdated reporting tools and manual processes created bottlenecks, increasing the risk of errors and limiting financial visibility for key stakeholders. 

Approach

DLC deployed a team of experienced financial consultants to assess and optimize the client’s financial close process. Our approach included: 

• Conducting a thorough assessment of the existing close process to identify inefficiencies and bottlenecks. 

• Standardizing financial workflows by implementing best practices for reconciliations, journal entries, and reporting procedures. 

• Enhancing internal documentation and training finance staff to improve accountability and ensure long-term sustainability. 

• Introducing automation tools and improved reporting systems to reduce manual effort and enhance accuracy. 

• Providing interim support to manage the monthly and quarterly close processes while internal teams adapted to the new framework. 

Results

Following DLC’s intervention, the client significantly improved the efficiency and accuracy of their financial close process. Key outcomes included: 

• A 30% reduction in time required to complete month-end close. 

• Improved accuracy and consistency in financial reporting, reducing compliance risks. 

• Enhanced visibility into financial data, allowing leadership to make more informed decisions. 

• A fully standardized and documented financial close process, enabling long-term sustainability. 

• Successful implementation of automated reporting tools, reducing reliance on manual processes. 

DLC continues to provide ongoing financial reporting support, ensuring continued process optimization and regulatory compliance for the client.