Helping a financial services organization restore statutory reporting operations
Operate services | Business Process Solutions
The challenge
A leading European financial services organization operating across multiple legal entities in the DACH region (Germany, Austria, and Switzerland) faced significant accounting, reporting, and data-quality challenges following a finance transformation, ERP implementation, and changes to its operating model.
The client needed to remediate several years of statutory financial reporting across more than 15 German legal entities while meeting demanding regulatory and audit deadlines. Fragmented processes, incomplete accounting records, data-quality issues, and limited capacity collectively created service delivery risks. This resulted in disrupted audits, reporting uncertainty across local and group operations, and heightened tax compliance exposure.
Three years of accounting and statutory reporting completed across 15+ legal entities
Our solution
Through an Operate service model, Deloitte’s Business Process Solutions team of over 40 BPS professionals from Germany, Austria and Central Europe, supported by 15+ external resources, executed and completed outstanding accounting and reporting activities across multiple German legal entities with complex and extensive reporting needs.
An integrated governance model provided continuity through transparent progress tracking, active management of risks and dependencies, defined escalation channels and quality reviews at key delivery stages.
The outcomes
Restored reporting and compliance
- Strengthened reporting at both local and group levels by addressing major audit and regulatory pressure, maintaining reporting and compliance operations.
- Recovered critical historical reporting obligations by completing 3 years of accounting and statutory reporting across multiple German legal entities
Reduced financial and operational risk
- Mitigated material tax exposure by providing the financial information required to challenge significant estimated tax assessments.
- Achieved greater control and stability in the finance function through consistent accounting records, supporting documentation and coordinated audit preparation. This restoration of finance activities supported ongoing business-as-usual operations.
Improved collaboration and decision-making
- Strengthened collaboration and accelerated decision-making through integrating governance, audit coordination, operational delivery and technology support.
Standardized and accelerated operations
- More consistent and operationalized ways of working to manage the volume of work within the required timelines through standardizing and accelerating processes and targeting use of AI.
