Reducing costs for an energy company by streamlining documentation

Client Overview:

As North America’s leading supplier of fuel, lubricants, and chemicals to key industries, our client is at the forefront of the Energy, Marine, Mining, and Industrial sectors. 

Business Challenge: 

In pursuit of scaling and optimizing their finance and accounting processes, the company faced significant challenges. High turnover among costly resources and inefficient procedures were major obstacles in their path to growth. Over the past five years Personiv has been instrumental in helping them achieve their financial goals by consistently hitting key milestone and building a track record of success and trust, ensuring the operational excellence is in place to manage their high growth. 

Solution:

Create a highly-scalable finance shared services model that optimizes the delivery, timeliness and accuracy of financial reporting saving the organization time and precious resources.

 Key Milestones:

• Centralized all Billing and AR operations to Manila 
• Identified critical accounts for reconciliation. 
• Expanded AP services to include vendor master data. 
• Process Optimization — developed Subject Matter Experts within the team. Process champions were identified for each functional area: AR, AP, GL, Cash, and more.