Revitalizing Financial Reporting: MindStream Analytics Empowers Accumen with Enhanced Data Structure and Insights
Accumen, a renowned name in the medical industry, was facing challenges with their current business analysis model. Despite leveraging NetSuite, a comprehensive software suite, they had not been able to implement their latest business model. A complex mapping of Classes, Departments, and Subsidiaries defined their business units, and they were experiencing issues with dynamic Reporting and Variance analysis using their existing tools.
Solution:
MindStream Analytics, known for its adept problem-solving skills, was roped in to address the challenge.
- 1. Alternative Hierarchy Creation: The MindStream team, after an in-depth analysis of Accumen's challenges, devised an alternative hierarchy of Subsidiaries. This new structure was geared to better organize Accumen's reporting needs, making it more streamlined and efficient.
- 2. Mapping Script: To ensure a seamless transition and data organization, a mapping script was developed. This script facilitates the smooth movement of data from NetSuite to the newly created organization structure.
- 3. Data Integrity Check: The mapping exercise revealed some discrepancies in NetSuite data, such as values that were erroneously loaded to the "Undefined" class. This allowed the team to pinpoint data load restrictions, enhancing report accuracy in the future.
- 4. Process Review: The meticulous process of defining the mappings gave Accumen a golden opportunity to revisit and review their data registration methodology in NetSuite, making it more structured and efficient.
Outcome:
Thanks to the intervention of MindStream Analytics, Accumen's Finance department can now model their business with a new, more organized structure that isn't conventionally available in NetSuite. This restructuring not only optimized their reporting mechanism but also highlighted key areas of data improvement. As a result, Accumen is better positioned to ensure data accuracy and garner improved reports in the long run, fostering informed decision-making.
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Case Studies
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