{"id":41250,"date":"2025-05-14T16:53:50","date_gmt":"2025-05-14T16:53:50","guid":{"rendered":"https:\/\/www.trintech.com\/?post_type=case-study&p=41250"},"modified":"2025-05-30T21:09:46","modified_gmt":"2025-05-30T21:09:46","slug":"liberty-mutual","status":"publish","type":"case-study","link":"https:\/\/www.trintech.com\/case-study\/liberty-mutual\/","title":{"rendered":"Liberty Mutual Ensures Financial Health by Automating Reconciliation and Financial Close Process with Trintech"},"content":{"rendered":"
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Liberty Mutual Ensures Financial Health by Automating Reconciliation and Financial Close Process with Trintech<\/h1>\n

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Recognizing Challenges<\/h2>\n\n\n\n

Liberty Mutual, a leading global insurer, faced challenges in managing their reconciliation and financial close process across multiple offices due to acquisitions. Tina Stillabower, Lead Accountant at Liberty Mutual (formerly State Auto), described their situation prior to implementing Trintech\u2019s solution: \u201cAt the time, our accounting team was spread across three separate offices due to various acquisitions over the years. Reconciliation processes were incredibly inconsistent and there was no way to measure KPIs or track progress as the team worked through the financial close process. People were working off of personal to-do lists and sticky notes on their desks, so if someone left unexpectedly, we had no insight into what they were doing\u2014or not doing.\u201d<\/p>\n\n\n\n

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Finding an Implementing an Automated Solution<\/h2>\n\n\n\n

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Once Liberty Mutual had recognized the need for a solution, the search began. \u201cWe knew we needed a centralized repository for our reconciliations, not only to improve visibility for management but also to provide standardization in our methodologies,\u201d shared Stillabower.<\/p>\n\n\n\n

While there were some initial change management challenges, management buy-in helped drive adoption. Stillabower noted: \u201cOnce management understood that they would be able to have more insight into what was happening with their own team as well as what was happening with the department as a whole, everyone was really excited.\u201d<\/p>\n\n<\/div>\n <\/div>\n<\/div>\n\n\n

Results and Benefits<\/h2>\n\n\n\n

With Trintech\u2019s solution, Liberty Mutual was able to achieve several key benefits, including:<\/p>\n\n\n\n

Improved Visibility and Reporting<\/h3>\n\n\n\n

Far from having zero visibility, everyone\u2014from peers to management\u2014understands where the organization is in the financial close process. \u201cTrintech\u2019s solution provides us with a percentage of completion that clearly communicates what\u2019s finished and what is remaining,\u201d mentioned Stillabower. \u201cWe really didn\u2019t have any good metrics related to our financial close process prior to Trintech. Now, our Controller can see the total amount of reconciled items for any point in time and how material those reconciliations were to our financial statements.\u201d<\/p>\n\n\n\n

This added visibility has enabled the team to investigate bottlenecks. \u201cWe can now drill down to see exactly where delays are happening, which is really helpful,\u201d continued Stillabower.<\/p>\n\n\n\n

Centralization and Standardization<\/h3>\n\n\n\n

\u201cWe had a lot of conversations internally at the highest levels, and those decisions were able to be cascaded down to the teams via Trintech\u2019s solution,\u201d shared Stillabower. \u201cNow, all of our reconciliations are in one repository and are performed the same way.\u201d<\/p>\n\n\n\n

Increasing the level of standardization, Liberty Mutual was able to automatically import data from their general ledger. \u201cWe didn\u2019t want everyone entering in disparate general ledger balances, so the ability to transfer that information was a huge plus for us,\u201d mentioned Stillabower.<\/p>\n\n\n\n

Improved Audit Processes<\/h3>\n\n\n\n

With both internal and external auditors having access to the Trintech solution, the effort associated with audits has been greatly reduced. \u201cIt\u2019s definitely a better situation with our auditors,\u201d said Stillabower. \u201cTrintech saves us a lot of time with both internal and external auditors because we allow them to go into the solution and be able to see for themselves instead of us having to go in and print things out for them.\u201d<\/p>\n\n\n\n

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Lessons Learned<\/h2>\n\n\n\n

Stillabower offered this advice to other companies considering automation: \u201cMake sure you know what you\u2019re looking for upfront so that you can set the account segments that you want and the different attributes within the close module, because that makes a big difference\u2026 We spent a lot of time figuring that out, and I think at the time that seemed kind of exhausting, but was definitely time well spent to get everybody on the same page and know how people are going to be looking at the data.\u201d By implementing Trintech\u2019s solution, Liberty Mutual has significantly improved its financial close process, gaining visibility, standardization, and efficiency. The company continues to optimize its use of the solution as it navigates ongoing growth.<\/p>\n\n<\/div>\n <\/div>\n<\/div>\n\n\n

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Read the Full Case Study<\/h2>\n\n\n\n

Discover key insights and actionable strategies by downloading our full case study.<\/p>\n\n\n\n

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See Trintech in Action<\/h2>\n\n\n\n

Seeing is believing. Discover why Trintech is the real leader in financial close automation.<\/p>\n\n\n\n

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Book a Demo <\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n\n<\/div>\n <\/div>\n <\/div>\n<\/div>\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Recognizing Challenges Liberty Mutual, a leading global insurer, faced challenges in managing their reconciliation and financial close process across multiple offices due to acquisitions. Tina Stillabower, Lead Accountant at Liberty Mutual (formerly State Auto), described their situation prior to implementing Trintech\u2019s solution: \u201cAt the time, our accounting team was spread across three separate offices due to various acquisitions over the years. Reconciliation processes were incredibly inconsistent and there was no way to measure KPIs or track progress as the team worked through the financial close process. People were working off of personal to-do lists and sticky notes on their desks, so if someone left unexpectedly, we had no insight into …<\/p>\n","protected":false},"featured_media":41354,"template":"","topic":[69,66,64,70,71,67,76],"product":[662,237],"class_list":["post-41250","case-study","type-case-study","status-publish","has-post-thumbnail","hentry","topic-account-reconciliation","topic-controls-compliance","topic-financial-close","topic-financial-reporting","topic-improve-visibility","topic-increase-efficiency-effectiveness","topic-standardizing-processes","product-frontier","product-insurance"],"acf":[],"lang":"en","translations":{"en":41250},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/case-study\/41250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/case-study"}],"about":[{"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/types\/case-study"}],"version-history":[{"count":0,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/case-study\/41250\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/media\/41354"}],"wp:attachment":[{"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/media?parent=41250"}],"wp:term":[{"taxonomy":"topic","embeddable":true,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/topic?post=41250"},{"taxonomy":"product","embeddable":true,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/product?post=41250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}