Transforming finance operations for a global fruit products leader
A leading manufacturer and distributor of fruit-based products partnered with HCLTech to overhaul their finance operations across controllership and financial planning and analysis. With a complex operational footprint and legacy systems, they faced mounting inefficiencies in financial processes, reporting and system integration. We aimed to deliver a seamless transition to a more agile, automated and insight-driven finance function — one that could scale with business growth and support enterprise-wide transformation.
The Challenge
Fragmented processes and legacy system constraints
The client’s finance operations were burdened by manual interventions, inconsistent workflows and limited visibility across departments. Each core function — accounts payable (AP), accounts receivable (AR), record to report (R2R) and financial planning and analysis (FP&A) — faced distinct challenges that hindered performance and decision-making.
- Accounts payable was slowed by backlogs in helpdesk queries, high turnaround times and multiple payment types that complicated processing. Integration issues with the iValua tool further disrupted workflows.
- Accounts receivable struggled with low automation in cash applications, reliance on manual postings and ineffective tracking of days’ sales outstanding (DSO) and CROP items.
- Record to report faced delays in book closures and lacked a standardized approach to reconciliations, with legacy open items persisting in balance sheet accounts.
- FP&A was hampered by fragmented reporting, limited documentation and poor integration between business lines and plant operations. System challenges with Power BI, iValua, Vena and Stars compounded the issue.
These inefficiencies increased operational costs and limited the client’s ability to respond quickly to business needs and regulatory requirements.
The Objective
Building a scalable and intelligent finance ecosystem
The client envisioned a finance function that could deliver timely insights, reduce manual effort and support strategic decision-making. The transformation goals included:
- Streamlining and automating core finance processes
- Enhancing system integration and reporting consistency
- Establishing a center of excellence (CoE) model for FP&A across plants
- Supporting the rollout of SAP S/4HANA to enable future scalability
HCLTech was selected for our deep domain expertise and proven track record in finance transformation, automation and enterprise technology integration.
The Solution
End-to-end transformation through automation and CoE enablement
HCLTech adopted a phased and collaborative approach to address the client’s challenges, focusing on process redesign, technology enablement and operational excellence.
Accounts payable
- Introduced a dedicated AP helpdesk to reduce query turnaround time by 67%
- Streamlined AP workflows to eliminate delays and improve payment cycle efficiency
- Rationalized payment types to simplify processing and reduce errors
Accounts receivable
- Deployed HiRadius to increase auto cash application rates and reduce manual postings
- Established an escalation matrix for customer communications, improving DSO and reducing overdue percentages
- Implemented targeted analysis and follow-up mechanisms for CROP items
Record to report
- Launched “Project Velocity” to accelerate book closing cycles, reducing the timeline from WD7 to WD4
- Standardized balance sheet reconciliation templates and introduced periodic review frequencies
FP&A
- Rolled out a plant FP&A CoE model to unify reporting and forecasting across locations
- Developed standardized reporting packs with embedded commentary on business drivers
This integrated solution addressed immediate operational pain points and laid the foundation for long-term transformation through SAP S/4HANA implementation.
The Impact
Operational agility and measurable financial outcomes
The transformation delivered significant improvements in efficiency, control and financial performance:
- Helpdesk query turnaround time reduced by 67%, enabling faster issue resolution
- AP workflow efficiencies led to smoother payment cycles and improved vendor relationships
- Seamless transition with zero business disruption, enabled by robust backup planning
- Enhanced reporting accuracy and timeliness across FP&A functions
Value delivered
Strategic cost savings and process excellence
The engagement generated over $2M in bottom-line impact through targeted interventions and automation:
- $125K saved through renegotiation of gas vendor contracts at plant level
- $1.8M recovered by closing legacy inactive marketing projects affecting FY22 and FY23
- $206K saved via automation of target CB pricing and resolution of shortages
- 20% FP&A FTE efficiency gain realized in the fifth year of engagement
By focusing on pragmatic solutions and a collaborative approach, HCLTech helped our client build a finance function ready for the future — resilient, insight-driven and primed for growth.
