Financial Director Improves Reporting Process through GL Wand
Lincoln Electric System was able to reduce time spent on financial planning with the help of GL Wand
"It’s extremely helpful to make sure that what we’re doing is making a difference, and making the difference that we expect to see."
Financial Reporting Time Cut
Daniel and his team were able to reduce time spent on financial reporting, which allowed them to shorten the financial close
Financial reporting is no longer done manually, allowing the finance team to work more efficiently
Real-Time Error Reduction
Errors found within the financials are now resolved instantly
In 2016, Dustan Daniel was brought in by Lincoln Electric Services to manage their Financial Accounting department. Upon joining, Daniel and his brand new team discovered a financial statement creation that was incredibly manual as well as time-consuming. “Financial statement creation was a day-long process on a good day,” Daniel recalled. “We didn’t have a good way to group everything. By the time we were done, if we found any errors, it was another full day process of correcting, then exporting and redoing all of those financials.”
While attending the SAP-Centric Financials Conference, Daniel connected with insightsoftware experts, who informed him of GL Wand, an SAP tool that LES owned but have never implemented. One conference call later with insightsoftware experts, and Daniel saw his team’s time spent on reporting reduced dramatically. It has allowed his team to not only speed up their overall process, but improve their efficiency as well.