Accounting Beez Llc

[Nella Mcnairy]

Althoughoften seen as "must to have", streamlined and CPM enabled Close & Consolidation processes build a critical pillar for Finance transformation programmes and performance management. Also, it is critical for any organization which interacts with auditors, banking institutions, tax authorities or investors where transparency, credibility, trust in financials and reliability are seriously judged.

Our Financial Close & Consolidation services cover the entire cycle: managing the close, transactional matching or account reconciliations, data submissions, simple or sophisticated multi-GAAP consolidations (incl. IFRS, USGAAP, CAS), automation of eliminations incl. investment, equity or intragroup profit or regulatory reporting.

More trust to data and financials collected from your entities and units.Although the entities in scope of consolidation, their underlying source ERP systems, their nature or maturity may change over the time, Holding consolidations and reporting must run. With our scalable and flexibly solutions we give you true flexibility on how data quality and data sourcing can be secured. This is always a balance between materiality, risks, maturity of subsidiaries, source systems and urgency.With our strong functional finance expertise, we also assist in accounting data audits, cleansing, risk assessments and accounting methodologies review to deliver process wise and technology wise solutions.

Streamlined consolidation process and bookings enabling your move from annual "must have" to performance reporting.True holding consolidations and reporting, in a full scope, is not developed in various organizations and the focus goes primarily on the PL contributions in ex-post reviews. CFO must have reliable and ongoing insights into all aspects of holding financial performance, covering BS, PL, CF or critical indicators such as working capital movements. We innovate processes, methodologies and CPM technologies to allow CFO to get closer to business and drive strategic value through insights and data.

Producing consolidated financial results of holdings may be very complex task. Having timely, accurate insights into always evolving financial performance of individual products, segments, divisions or subsidiaries may even not be possible without proper infrastructure. In current fast changing environment, this reality holds you back and put you in risk.We excel in turning complexity into simpler, smarter and meaningful solutions, giving CFO true strategic value for navigating the business and securing compliance at the same time. Simplification for the users are critical for adoption of financial innovations.

Many even large organizations suffer from fragmented siloed processes. Processes such as consolidation, profitability reporting, KPI calculations, covenants calculations, budgets and financial forecasting is not unified. Every process, different tools, different process owners, lot of spreadsheets, complicated data interfacing, different data structures. Solution? With OneStream leading CPM platform, we allow larger organizations to unify and bring critical financial processes into a single proven system. Native integration, single user interface, validated data and fully integrated data models for various processes, single licensing and ... ultimately true single source of truth. No more inefficiencies and discussions who has better data. Drill consolidated results into product performance reporting and compare easily their profit contribution against organizational latest rolling forecast.

You will get confidence in foundational finance process of Close and Consolidated reporting. With our reach hands-on experience, modern CPM solutions and true partnership, we will enable your teams to take control and free their time for analysis, business navigation and focus on value. To achieve that, we bring unbiased and apolitical international best-practices. Also, with our pre-built core CPM solutions (Consolidation Starter Pack) you will get faster tangible results.

Turning fragmented and often spreadsheets based complex reporting processes into scalable, automated and auditable solutions will give you very different level of data consistency, control and integrity. Also, we will help you to achieve confidence in financial results and became trustworthy party for any external stakeholders such as auditors, banking institutions, investors and others.

If you need to transform financial management and innovate key application and process infrastructure, cooperation with SIMPLEBEEZ has pushed us forward from the very first moment. They performed a gap analysis and compiled a detailed transformation roadmap. They connected the finance and IT teams, their interests, priorities and strategies and set clear process and application goals, optimal for supporting the future growth of the entire Packeta Group.

SIMPLEBEEZ has very experienced managers, with a unique combined knowledge of finance, IT and process management, who can very quickly develop the necessary influence and insight into the business and focus on the result. At the same time, they are apolitical and can roll up their sleeves and get most of the complicated stuff done, which I find the most valuable. I certainly recommend their engagement for larger transformation programs to all organizations that are aiming for added value and results.

Most of all, I do appreciate the speed of identifying what our company exactly needs, the natural integration into the internal team and the connection to the company's processes so that we move quickly and efficiently towards the goal.

I consider the efficiency of the consulting team and excellent project management to be the biggest asset for us. It goes without saying that the extensive expertise of all members of the consulting team and their high level of commitment at times when the project needs to be moved forward is a matter of course.

As the Packeta Group grows and expands rapidly, it requires transformation of processes, IT solutions and management of group corporate finance. SIMPLEBEEZ quickly fit in with the internal teams and were involved in leading the group's ERP implementation project.

This has so far included the design of process and data architecture, running the RFP and supplier selection process, project management, complete ownership of functional process design and implementation for the area of finance, procurement or logistics, including testing and transfer of know-how to internal teams.

At the same time, they act as an efficient connector and moderator between finance, HR, IT or operational teams. SIMPLEBEEZ team provided the unbiased view, necessary experience with similar projects and innovative approaches required for our transformation from a Central European startup to a Pan-European player.

We are happy to start new partnership with OneStream and SIMPLEBEEZ to transform our reporting and consolidation processes and enable us to be more flexible and prepared for further business expansion. We think OneStream is one of the foremost systems to handle our complex financial requirements in a single unified platform.

Also, we have chosen SIMPLEBEEZ implementation partner due to their hands-on experience with similar complex projects. This partnership will allow KKCG to drive growth through streamlined processes, data-backed insights and a single source of truth within the organization

For me as CTO, SIMPLEBEEZ team brings great value with their ability to connect technical, financial and operational teams by being able to devise and build process and financial operating models in applications such as ERP or CPM and systematize them into data models and integration layers.

With their broad combined knowledge of both finance and IT, they are able to manage the implementation and bridge traditional misunderstandings between people with different backgrounds in the organization. This ability reduces the risks of innovation and digitization programs and leads to intended results.

Open Bee solutions have been completely adopted by our users because of the ease of work it provides them. Thanks to Open Bee, we saved up to 1h30 per day for the administrative processing of orders. This allows our sales administration team to spend more time on value-added tasks, such as follow-up calls to clients or outgoing calls.

A company specialised in the weaving, creation and commercialisation of household linen, products are marketed in over 80 countries.

The company employs 170 people, and our turnover is approximately 20 million euros a year.

2-way match in the accounting jargon is the reconciliation process of an incoming invoice (paper or electronic) with its purchase order stored in the ERP-system in terms of quantity and price.

Open Bee offers an automated invoice processing solution that brings end-to-end automation to your accounts payable processes. It utilizes an industry-leading AI-based capture and recognition engine, which combines machine and deep learning algorithms with semantic analysis. This solution is integrated with our document management system to streamline your invoice processing, approval workflows, and provide unmatched insight into every step of your invoicing process.

The solution is designed to recognize and automate the data extraction and classification of all types of structured and semi-structured documents. This means that regardless of the nature or complexity of your document, its recognition is automatically improved, leading to optimized processing.

Implementing accounts payable automation offers numerous advantages for your organization. By streamlining and automating the processing of vendor invoices, you can unlock significant time and cost savings. Automated systems provide accurate and efficient invoice processing, easy access to data, real-time monitoring, and enhanced control over financial operations. Manual accounts payable processes have challenges such as lengthy processing times and high error rates, while automation reduces the risk of mistakes, document losses, and payment delays. It also eliminates ongoing costs associated with manual filing and storage, allowing your accounting team to focus on major financial projects and more value-added tasks.

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