Finance process and reporting standardization
Project overview and objectives
The oil and gas business unit of a multi-national conglomerate engaged Clearsulting to help design and standardize five key business processes and financials, as well as support financial data mapping efforts. The goals of this project were to:
- Design and implement process and financial reporting standardization across more than 200 manufacturing, service, and sales sites within the global surface drilling business
- Support the surface drilling business Oracle financial mapping and data reconciliation efforts
What we did
- Coordinated with project leadership to develop future state process flows related to key business processes
- Coordinated with project leadership and Oracle solution architects to develop standard operating procedures for five redesigned processes within Oracle
- Performed testing within the Oracle environment to determine system functionality and the accuracy of account allocations related to redesigned processes
- Drove drove reconfigured system functionality through Oracle process re-design and standardized processes across the Americas, EMEA, and Asia-Pacific
- Assisted in creating a consolidated listing of more than 200 locations across the service and manufacturing businesses globally to ensure leadership was aware of all active field locations
- Worked with area controllers and finance teams to identify account mapping issues and correct account mapping within Oracle HFM
- Identified and corrected financial mapping and monthly reporting gaps globally, leading to increased reporting accuracy and visibility into performance across the business