Key Takeaways

Provides a common platform for subsidiaries with different ERP systems

Gained a more stable and less time- consuming reconciliation process

Solved month-end intercompany reconciliation issues

Consolidated storage of reconciled data and documentation

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Perstorp, is a world leader in several sectors of the specialty chemicals market. Private Equity owned, by PAI partners, Perstorp has 10 production plants and 26 sales offices.

Perstorp solved the problems they were experiencing with month end intercompany reconciliation by using the Coprocess Recon module. In this presentation given by Perstorp at the Coprocess User Group Meeting in June 2018, Ewa Stiernfeldt, Financial Controller, Perstorp AB, showed how they addressed the major issues of reconciliation.

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The Major Issues of Intercompany Reconciliation:

Mismatches due to delays / incorrect booking of Accounts Payable (AP)

Not clear who is the relevant contact to resolve disputes

Consolidated balance sheet needs manual adjustment

P&L accounts may be incorrectly presented

Undesirable Audit comments

Considerable time pressure at month end

Manual processes at every subsidiary and centrally

Fragmented storage of reconciled data and documentation

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Perstorp uses the automatic matching of reconciliation items by uploading AR into the system, uploading AP, using the Coprocess functions such as ‘mismatching analysis’ and the reporting functions such as ‘confirmation of outstanding balances’ and ‘recon subtotals’ reports.

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