Get the Close Off Your Back

Global Manufacturer Slashes Monthly Close Times by 93%

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THE CHALLENGE

WATCH FIRST HAND

"We were looking for a solution that was flexible enough to handle acquisitions and changes in structure, as our reporting requirements were always evolving."

THE NEED

Recochem needed a consolidation solution and vendor that offered 4 essential elements:

  • Flexible: A solution that could easily adapt to an evolving corporate and reporting structure

  • User-friendly: Intuitive navigation and facility of use for any type of users seek for 
    a solution that can be maintained internally with limited support

  • Experienced: Vendor with experience in finance and accounting systems who would be a business partner in the process

  • Robust: Complete and robust consolidation functionalities

"We also wanted a solution that was intuitive. When we think about an iPad, we can give one to a child and they can use it instantly - we wanted the iPad version of a consolidation system."

THE SOLUTION

With some help from Fluence, Marie-Ève transformed Recochem’s finance 
department and:

  • Slashed the monthly financial close and reporting cycle from 1 month to 2 days

  • Integrated new acquisitions into the consolidation and close process within 
    a week

  • Cut the year-end audit from a months-long process to audited financial statements 
    in 3 weeks

THE RESULTS

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Recochem chose an integrated solution offered by Fluence and Vena Solutions. 
One that met their needs and stood out 
for offering: 

  • Quick Time to Value: Quick to implement and adopt among global accounting stakeholders

  • Integration: With previously disparate ERP systems, ledgers, subledgers and processes

  • Finance Ownership: A solution finance could own, without relying on IT for custom reports and other needs 

HOW FLUENCE HELPED

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Some of Fluence’s key features that 
helped Marie-Ève transform her finance function included:

  • Automated cash flow and CTA calculations

  • No-coding administration for full finance ownership

  • Time and audit dimensions for new acquisitions and investments

  • Simple, automated intercompany matching

  • Data transparency and auditability

HOW DO YOU STACK UP?

Financial Close

See how your financial close practices compare with hundreds of your peers from the Vena Nation Week finance leadership conference, including how:

  • 69% still rely on Excel spreadsheets for financial consolidation

  • 55% take more than 3 weeks to close their books each month

  • 34% say timely, insightful management reporting is their top financial close priority

  • Ready to change up your game with the consolidation software you deserve? 
    Book your personalized demo today. 

Want to learn more? Watch the full on-demand case study presentation at PlanToGrow.com

Ready to up your game with the consolidation software you deserve? 
Book your personalized demo today.

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Rechochem challenge

Marie-Ève Meunier,
Corporate Controller, Recochem

Rechochem Results
The the close off your back
Take back your summer
Welcome to Fluence

Get the close off your back.

Say goodbye to late nights and long hours copying and pasting numbers.

Take back your Summer time.

Give yourself the control and freedom that you deserve.

Welcome to Fluence. We close early.

Close with confidence knowing your numbers are always accurate. 

Marie-Ève Meunier,
Corporate Controller, Recochem

Fluence Rechochem

See how Marie-Ève Meunier, Corporate Controller at Recochem, pulled this off in the midst of acquisitions and year-end audit.

  • Rechochem relied on Excel and non-standardized templates, consolidation and reporting took a month to complete, with limited time for analysis

  • A series of acquisitions were completed within a short period of time, making it difficult to integrate into the previous consolidation process

  • 10 different ERPs, local charts of accounts etc. in use

  • Need for trusted, timely numbers to make smart, agile decisions