Wealth Management By The Numbers

  • By zoltan-szakal
  • January 19, 2017

This simple success story discusses how one financial services firm was able to scrap Excel & Dynamics GP, as well as reduce financial reporting time

Following some simple steps outlined in this whitepaper on Driving Performance in Wealth Management Firms, you can expect to drastically reduce financial reporting time, and obtain a single source of truth for your financial data.

Driving Performance in Financial Services

Company Summary

  • $170 billion in Assets Under Management
  • Commitments of $8 billion
  • 50 Entities and a holding company
  • Using Great Plains for accounting and Excel for consolidation and analytics


  • Chart of Accounts exploded to 55,000 for entity analytics
  • Lack of consolidated financial reporting and analytics – would take 40+ hours a month
  • Lack of loan level analytics
  • Inability to support anticipated company growth

Using 3 New Approaches for Driving Performance in Financial Services (check them out here), this firm has achieved the following.

Since deploying Intacct they have

  • Simple multi-currency support
  • Streamlined budget to actuals
  • Single source of truth to slice and dice data
  • GAAP reporting as well as internal, and CEO financial roll ups
  • Integrated with loan servicing sub-ledger

Benefits by the numbers

  • Reduced time to create reports from 40+ hours to minutes so now time can be focused on decision making and planning
  • Reduced chart of accounts from 55,000 to 360

If closing faster to enable real-time reporting, aggregating data from disparate sources to improve analysis and implementing dashboard reporting to monitor the financial pulse of your organization is on your list, download the whitepaper

 Driving Performance

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