Uvid consulting

A dynamic event management company with project-based accounting, managing multiple events at varying stages—from planning to execution.

The Challenge

The finance team faced recurring delays and inaccuracies in month-end accruals. Events that were still in the planning stage but not yet delivered lacked clear visibility in the financials, leading to:

  • Time-consuming manual data collection from ERP
  • Inconsistent accrual estimates
  • Heavy reliance on email communication across teams

The Solution

We implemented a real-time month-end accounting support solution that integrated tightly with the company’s ERP. The key components included:

  • Hourly flash updates from the ERP on project performance
  • Automated generation of Flash vs. Actual reports for ongoing projects
  • Clear visibility into projects “in preparation,” enabling finance to accrue accurately even before the events occurred

The Result

  • Improved Accuracy: Accruals became more precise for projects still under development
  • Faster Month-End Close: Reduced cycle time due to streamlined data flow
  • Efficiency Gains: Minimized manual effort and reduced internal email traffic