The Savings Group
Financial Services • Lending Solutions & Financial Planning
Company Overview
Unifying Multi-Entity Accounting Processes
The Savings Group is a leading financial services firm specializing in lending solutions and financial planning. With a strong track record of growth and client service, the company has built a reputation for expertise and reliability in the financial services industry.
However, like many multi-entity organizations, gaining both high-level and granular visibility into the close process across all entities was a persistent challenge. Each entity had nuanced aspects to the close, with checklists housed in different worksheets across the organization. This lack of uniformity created inefficiencies, making it challenging to track the team's progress and limiting their ability to focus on strategic items.
"Bean's month-end close functionality helped us create a cohesive approach to our Month-End process across multiple entities. This also helped us share consistent work papers/schedules across all entities. The biggest benefit of using the software was creating one reference point for close and a visualization of all account reconciliations."
The company required a solution that could streamline financial workflows, enforce uniform reconciliation procedures, and improve overall transparency. Additionally, as The Savings Group continued to expand through acquisitions, integrating new entities into their accounting framework needed to be quick and seamless to avoid disruptions in financial reporting and compliance.
One Platform for Consistent Financial Operations
Bean's month-end close functionality provided The Savings Group with a unified platform to standardize accounting processes across all entities. The platform enabled Rob, the CFO, and his team to create a cohesive approach to month-end procedures that could be applied consistently, regardless of which entity was being managed.
The platform allowed the team to share consistent work papers and schedules across all entities, eliminating the need to recreate documentation for each subsidiary. This standardization not only improved efficiency but also ensured that every entity adhered to the same high standards of financial accuracy and compliance.
Perhaps most importantly, Bean created a single reference point for all account reconciliations, giving the finance team complete visibility into the status of every reconciliation across the entire organization. This centralized approach transformed how The Savings Group managed its multi-entity financial operations.
Unified Multi-Entity Framework
Bean provided a single platform to standardize accounting processes across all entities, eliminating inconsistencies and creating a cohesive financial reporting structure.
Seamless Acquisition Integration
New entities from acquisitions could be quickly onboarded into the standardized framework without disrupting financial reporting or compliance.
Enhanced Transparency & Control
Complete visibility into all account reconciliations across entities, with consistent work papers and schedules accessible from one reference point.
The Impact
Bean transformed The Savings Group's multi-entity accounting operations from a fragmented, time-consuming process into a streamlined, standardized system. With a single platform unifying all entities, the finance team gained unprecedented control, visibility, and efficiency.
The result: complete standardization, faster close times, and the ability to scale confidently while maintaining the highest standards of financial accuracy and compliance.
