How Cumming Cut their Reporting Cycle from 4 Weeks to 1 Day

February 26, 2017 Ali Rodriguez

Vena allows Cumming to produce reports the same day of the financial close, leading to significant time and resource savings, and allowing the organization to implement proactive business strategies.


Automating the financial close and reporting process is a priority for virtually every company. But global project-based firms like Cumming face unique challenges, stemming mainly from the need to manage numerous projects at different stages and different locations across the country and around the world.

Saving 4 weeks allows us to get in front of issues and be proactive rather than reactive.

Challenges:

  • Manually creating, distributing and consolidating spreadsheet
  • Complex and time-consuming financial close process, involving countless emails and phone calls for management oversight
  • Not enough time for analysis and proactive decision-making

Results:

  • Reduced reporting cycle from 4 weeks to same business day as the close
  • Annual savings of $55k, or the equivalent to a full-time hire
  • Freed up time for better analysis and decision-making, leading to better organizational strategies.

About Cumming Corporation

Cumming Corporation is an international project and cost management consultancy that provides effective and cost-efficient solutions to ensure projects in multiple sectors—including hospitality, government, education and healthcare—are executed on time and within budget.

Register for tomorrow’s webinar below to learn how other organizations are mastering their Excel spreadsheet processes.

 

The post How Cumming Cut their Reporting Cycle from 4 Weeks to 1 Day appeared first on Vena Solutions.

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