Improving Communication in Record-to-Report Process
Situation
A global pharmaceutical company's finance function, supported by multiple outsourced service delivery centers, experienced deteriorating record-to-report performance. Operating in a highly regulated industry with 60 employees dedicated solely to reconciliation, the organization faced increasing rejection rates, contradictory requirements, declining team efficiency and morale, and communication breakdowns between local and outsourced teams.
Project
JCY Advisors facilitated a cross-organizational workshop that brought together executives and process owners from both client and delivery organizations. Based on executive sponsor guidance, participants were organized into focused groups addressing Account Reconciliation and VAT Declaration processes. The workshop explored communication gaps, team perspectives, and process improvement opportunities, developing design prompts to improve first-time reconciliation accuracy, enhance information sharing about process expectations, and establish better change management communication.
Results
The intervention successfully transformed a deteriorating working relationship into collaborative growth opportunity:
Identified cultural differences and organizational communication barriers
Established monthly collaborative meetings between teams
Committed to transparent process change communications
Developed shared understanding of each team's perspectives
Planned follow-up workshops to implement generated improvement ideas