Issue
The client is a Fortune 500 commodity trading firm running over 3,000 financial reports out of its ETRM.
The sheer number of ETRM reports had become unmanageable:
- Many reports were redundant or inaccurate, producing 'multiple versions of the truth.'
- The excess volume dragged out month-end close.
- Finance needed a more efficient, accurate, and simplified process to trust its numbers.
Solution
Our business analyst replaced the entire report estate with a single, reconciled process:
- Determined the 3,000+ reports could be eliminated and consolidated into one batch process.
- Developed roughly 30 new reports, reconciled to the client's source data.
- Output a single database table accessible from Excel and Access.
Result
Over 3,000 reports collapsed into roughly 30 - cutting two days off month-end close and eliminating the maintenance cost of the old estate.
Finance and back office received more accurate financial information from one source, ending the 'multiple versions of the truth' that had slowed the close.
“Your consultant was quite instrumental in the data flow and interface design portions of the MDI. He made significant contributions to this project with timely deliverables as well as ongoing support efforts.”
Support Lead and Product Manager
Major Energy Company
Key Takeaways
- Report count is a liability, not an asset. Consolidating over 3,000 overlapping reports into roughly 30 reconciled outputs feeding a single database table replaced 'multiple versions of the truth' with one authoritative source - and cut two days off month-end close.
- The fastest way to speed a close is not faster reports; it is fewer of them. Rationalizing to a single reconciled batch process lowers maintenance cost and raises confidence in the numbers - a pattern any trading operation buried in ETRM reports can repeat.
Ready to do the same?
Is 'multiple versions of the truth' slowing your month-end close? MidDel consolidates sprawling ETRM report libraries into a single reconciled source your finance team can trust. Let's talk.
