Transforming Month-End Close with Real-Time Financial Reporting
A dynamic event management organization operating through project-based accounting managed multiple events simultaneously across different stages of planning and execution. As project activity increased, Finance needed greater visibility into the financial position of events that had not yet been delivered. The challenge was not simply completing the month-end close; it was establishing a more timely and reliable view of project performance so that accruals could reflect the latest available information.
The Challenge
The Finance team faced recurring delays and inaccuracies in month-end accruals, particularly for events that were still in the planning stage and had not yet been delivered. Without timely visibility into the financial position of these projects, Finance had to rely on manual information gathering and estimates to determine the appropriate accruals.
The key challenges included:
- Manual ERP Data Collection: Finance relied on time-consuming manual collection of project information from the ERP during the month-end process.
- Inconsistent Accrual Estimates: Limited visibility into projects still under development made it difficult to consistently estimate accruals before events were delivered.
- Heavy Email Dependency: Teams relied extensively on email communication to gather and validate project information, creating additional coordination effort and slowing the flow of information into Finance.
- Limited Real-Time Project Visibility: Finance lacked a sufficiently current view of project performance to confidently assess ongoing events during the close process.
The underlying issue was therefore not simply an inefficient accounting process. Finance needed timely project-level information that could translate operational activity into a more reliable financial view at month-end.
This distinction is important to UVID’s Enterprise Performance philosophy: the purpose of financial automation is not merely to remove manual steps. It is to improve the quality, timeliness, and confidence of the information used to manage the business.
- Date: July 6, 2025
- Client: Multi-Line Event Management Firm
- Location: USA
- Category: Case Study, Entertainment, Event Management
- Website:
The Solution
UVID Consulting implemented a real-time month-end accounting support solution integrated tightly with the company’s ERP. The solution was designed around the specific operational reality of project-based event management, where financial performance can change while an event is still being planned or executed.
Real-Time ERP Flash Updates
The solution provided hourly flash updates from the ERP on project performance, giving Finance a much more current view of ongoing project activity during the month-end process.
This reduced the dependence on manually gathering information and created a more timely information flow between the operational system and Finance.
Automated Flash vs. Actual Reporting
Flash vs. Actual reports were automatically generated for ongoing projects, enabling Finance to compare current project information against actual financial performance in a more structured way.
This shifted part of the month-end process away from manually assembling project information and toward reviewing the financial implications of the latest available data.
Visibility into Projects Still in Preparation
The solution provided clear visibility into projects that were still in preparation, enabling Finance to identify projects requiring accrual treatment even before the associated events had occurred.
This was particularly important for improving accrual precision because financial activity did not have to wait until an event was delivered before it became visible to Finance.
Connected Month-End Information Flow
By integrating the month-end accounting support capability with the ERP and automating the flow of project information, the solution created a more connected path from project activity → financial visibility → accrual assessment → month-end reporting.
That reflects a core UVID principle: business processes, financial information, and decision requirements should be connected rather than managed as isolated activities.
The Business Impact
The transformation improved the accuracy, speed, and operational efficiency of the month-end process.
Improved Accrual Accuracy
Finance gained greater visibility into projects that were still under development, enabling more precise accruals before events occurred.
The improvement was therefore not simply about processing accruals faster; it was about improving the quality of the information supporting those accrual decisions.
Faster Month-End Close
The streamlined flow of project information reduced the time required to gather and process information during the month-end cycle, contributing to a faster close.
Reduced Manual Effort
Automated reporting and more frequent ERP updates minimized the manual effort previously required to collect and consolidate project information.
Reduced Internal Email Dependency
By improving the availability of project information within the financial process, the organization reduced its reliance on internal email communication for month-end coordination.
Greater Finance Visibility into Operational Performance
The combination of real-time project updates and Flash vs. Actual reporting strengthened the connection between operational project activity and financial reporting.
For Finance, this meant greater ability to understand the current state of projects before month-end reporting was finalized.
