The FP&A team was responsible for preparing a Profit & Loss Statement (“P&L”) for leadership at the end of each month. To do this, they needed to gather global data from department spreadsheets, enterprise resource planning systems (“ERPs”), and online social media platforms such as Facebook and Instagram. There was hundreds of thousands of records to gather and leadership expected reporting to be completed within 10 days of the end of the month.
The team manually extracted information from each data source and manipulated everything in Microsoft Excel. As the file size increased, so did the amount of broken formulas and reference errors. In order to resolve these issues, the team was forced to spend countless hours investigating individual cell blocks.
By the middle of the year, the file contained so much data that refreshing a pivot table would crash the team’s computers. They continuously struggled to meet deadlines and settled for standard reporting with minimal analytics. The entire process limited leadership’s ability to make impactful decisions because the reporting lacked the actionable insights needed to operate a global company.