Transforming Financial Close Processes with Advanced Automation: The Signify Success Story
Learn how advanced automation transformed Signify’s financial close process, driving efficiency, transparency, and accuracy in their global operations.
A robust financial close process is crucial for accurate, timely, and compliant financial reporting. However, a lack of standardisation, particularly across global entities, often prevents organisations from minimising errors and meeting regulatory requirements with confidence.
Join experts from AICO and Signify to discover the power of automation within financial close processes. Signify (formerly Philips Lighting), sought to streamline and enhance its financial close processes across 164 legal entities globally. With multiple SAP instances and a series of new acquisitions, the company faced increasing complexity in its month-end closing operations and aimed to drive greater standardisation and efficiency.
Key Challenges
- Standardising and automating month-end close activities across all group companies.
- Reducing reliance on disparate software tools for financial close processes.
- Digitising closing activities by business unit for better alignment.
- Achieving real-time monitoring and reporting capabilities.
- Ensuring full visibility of the financial close process.
Discover how, after implementing AICO’s Financial Close Automation Platform, Signify was able to:
- Identify and eliminate 30% of obsolete activities.
- Automate balance sheet reconciliation to enhance data quality and optimise the process.
- Streamlining the global month-end close.
- Improve journal entry automation and data quality.
- Reduce manual tasks and increase efficiency across the board.
Join this live webinar to learn how advanced automation transformed Signify’s financial close process, driving efficiency, transparency, and accuracy in their global operations.
Speakers
Andrzej Wieczorek
Finance Project Manager
Signify
Andrzej Wieczorek is a Finance Project Manager at Signify Poland with over a decade of experience in finance and process automation. He previously held leadership roles in IT and SAP project management at Infosys BPO Poland, specialising in FI/MM/Blackline/Aico modules. Andrzej holds a Master of Science in Telecommunications and Computer Science from Politechnika Łódzka.
Shivam Dosa
Chief Customer Officer
AICO
An ACCA qualified accountant with a passion for RPA and improving productivity in the workplace by utilising technology. Shiv has a broad background, spanning from working in Corporate Finance to Financial Control to Project Implementations, This experience has given him a solid foundation for Financial Close Automation within Aico.
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