01.
The Challenge
A leading electric vehicle manufacturer was struggling to meet
reporting deadlines—so much so that they hadn’t met a quarterly deadline since going public. To turn things around, they engaged RGP
to conduct a root cause analysis and embed leading practices into their accounting function.
02.
What We Did
RGP deployed a sharp, three-person team to assess their close processes, examining dependencies, sequencing, reviews, approvals, and key tasks. The analysis revealed inconsistencies and missing documentation, creating roadblocks for the team.
To address these challenges, RGP developed process documentation—including narratives and flowcharts—to define the agreed-upon future-state processes. This also included mapping upstream and downstream systems, data flows, and dependencies.
Working closely with the client, the team automated and integrated payroll entries—previously a manual, time-consuming effort—along with warranty and service support processes. They also introduced detailed close checklists and supporting processes, improving visibility and efficiency across the board.
03.
Our Impact
The close process was streamlined, removing SEC extension needs and providing F&A more time for performance analysis.
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