Financial Accounting Hub
Big Data Meets Financial Accounting Standards – a Simple, Yet Agile and Scalable Solution
This Precisely telecommunications customer offers a full range of services to more than 26 million customers in the retail mobile, fixed voice services and fixed broadband markets and were challenged with major financial accounting standards.
Communication services providers (CSPs) have undergone transformative change in recent years to evolve legacy infrastructures built for fixed line phone services to accommodate an expanding array of mobile and data services. This change also generates a growing list of compliance requirements as the volume, velocity and variety of data to manage continues to expand.
This customer approached Precisely with an urgent need for a scalable, performant solution to deliver the monitoring and reporting required for financial accounting standards with International Financial Reporting Standards (IFRS) .
Precisely simplified and streamlined this leading Telco’s accounting solution with an enterprise-level hub to process big data in real time within and among applications and systems as expected. The company can ensure the information is complete, accurate, consistent and reliable.
With the deadline to adopt the new accounting standards fast approaching, this company needed an accurate, agile and dependable solution to quickly handle large volumes of data without compromising applications – several disparate solutions, serving more than 350 entities, processing more than $25 billion in annual revenue. These legacy applications were exceptionally expensive to maintain, extremely difficult to modify, and could not themselves meet the IFRS requirements.
Read more about this leading telecommunications company and how they eliminated the inefficiencies of disparate systems and allowed for real-time data processing and reporting at scale.