Client Result
Revamping revenue recognition to boost efficiency and insights
Overhauling outdated systems to drive financial insight and efficiency
Client Result
Overhauling outdated systems to drive financial insight and efficiency
Facing challenges with outdated systems and fragmented processes, our client needed more than a technology overhaul. West Monroe conducted an end-to-end assessment of their revenue recognition process, identifying 30+ new core data elements essential for accurate modeling. Together, we envisioned a modernized technology landscape and rapidly identified OneStream as the best-fit platform. This enabled seamless automation and data governance, ensuring the system’s scalability and flexibility. Our team collaborated with finance and operational stakeholders to deliver a comprehensive transformation, providing faster insights and improved revenue management capabilities.
Over the course of a year, West Monroe’s multidisciplinary team worked hand-in-hand with the client, leveraging expertise in technology, operations, and finance. Together, we redefined roles and responsibilities, introduced automation, and developed a business partnership model. Our team guided the implementation of OneStream, creating a governance framework for long-term success. To ensure adoption, we ran training sessions and established a PMO for seamless integration. The result was a collaborative transformation that improved organizational efficiency, advanced revenue insights, and positioned finance as a strategic business partner.
By modernizing revenue recognition processes, West Monroe helped the client achieve a 70% reduction in effort for month-end close and reporting, enabling faster insights and decisions. Automation and outsourcing initiatives freed up 33% of finance staff time for activities that directly impact profitability. Additionally, retiring outdated systems reduced maintenance costs, projecting $500,000 in annual savings. The transformation fostered stronger cross-functional collaboration, with new KPIs promoting partnership and accountability. With scalable systems and streamlined workflows, the client is now better equipped to drive profitability and growth.
One of the largest global insurance brokerages was grappling with outdated enterprise systems that made it difficult to estimate revenue. The existing solution, implemented to meet compliance standards, was unsustainable and lacked the necessary insight to support future growth. West Monroe stepped in, recognizing this was more than a technology issue. Over the course of a year, we partnered with the client to reimagine their revenue processes from end to end. Together, we reduced month-end close efforts by 70%, reclaimed 33% of finance team capacity for high-impact work, and enabled $500,000 in projected annual cost savings. With a new technology platform and insights-driven processes, the organization is better equipped to make timely, informed decisions that fuel future success.
less effort for month-end close activities, enabling faster results
increase in organizational efficiencies within the finance department
projected annual cost savings by decommissioning high-maintenance systems
