National Insurance Company Reduces Accounting Close Cycle 64%

National Insurance Company Reduces Accounting Close Cycle 64%. With Pega, the company has extended and enhanced its ERP capabilities; optimizing performance in the monthly accouting close, supplemental financial reporting and external auditing processes.

Business Goals

  • Improve financial control
  • Reduce time spent on tasks
  • Improve audit process
  • Reduced regulatory fines
  • Closed their books faster with better accuracy

Results

  • 64% reductionin accounting close cycle
  • 60 FTEs saved per year
  • 99.3% on-time reporting rating
  • 5.4% estimated improvement of annual margin
  • Eliminated churn and frustration in audit process