{"id":6834,"date":"2017-01-25T03:28:12","date_gmt":"2017-01-25T03:28:12","guid":{"rendered":"https:\/\/www.trintech.com\/case-study\/siemens-corporation\/"},"modified":"2026-02-20T23:38:30","modified_gmt":"2026-02-20T23:38:30","slug":"siemens-corporation","status":"publish","type":"case-study","link":"https:\/\/www.trintech.com\/case-study\/siemens-corporation\/","title":{"rendered":"Siemens Corporation: Three Steps to Engineering a World-Class Financial Close…Standardize, Automate, Deliver"},"content":{"rendered":"
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Siemens Corporation: Three Steps to Engineering a World-Class Financial Close…Standardize, Automate, Deliver<\/h1>\n

Case Study<\/p>\n <\/div>\n

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Siemens launched a project to \u201cbundle\u201d its regional infrastructure functions. The goals of this project were to improve efficiency, compliance, and to standardize on a common set of processes. Siemens looked for their Global Shared Services organization to play a key role in the success of this project.<\/p>\n\n\n\n

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Trintech has always stood behind its word. They haven\u2019t let me down yet. I didn\u2019t get that same sense from the other vendors we considered.\u201d<\/p>\n <\/blockquote>\n\n

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Business Drivers to Automate <\/h2>\n\n\n\n

From the beginning, Siemens\u2019 global Shared Services Center was driven by a desire for increased control and transparency. Analytics would be important, as would ease-of-use. Siemens\u2019 Corporate Controller, Rob Koca, understood he would need a solution that reconciled 100% of GL accounts and sub-ledgers and provided detective and preventative controls while supporting account reconciliation staff with an automated workflow. <\/p>\n\n\n\n

The aim was to decrease the number of resources required to support the close functions through automation, including mobile and web-based analytics tools that could support rapid reviews and approvals. <\/p>\n\n<\/div>\n <\/div>\n<\/div>\n\n\n

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Solution in Action<\/h2>\n\n\n\n

After researching several solutions, Koca decided on Trintech\u2019s Cadency Certification solution. \u201cWhen selecting vendors, Siemens is all about partnerships and taking the long term approach,\u201d said Koca. <\/p>\n\n\n\n

Since implementing Cadency, Siemens has been able to reduce its overall cost to deliver by some 20%, while also dramatically improving the quality and reliability of the output. Siemens continues a close partnership with Trintech in order to discover further ways in which the solution can improve the efficiency and effectiveness of the financial close.<\/p>\n\n<\/div>\n <\/div>\n<\/div>\n\n\n

About Siemens<\/h2>\n\n\n\n

Siemens Corporation is a U.S. subsidiary of Siemens AG. They are a global powerhouse in electronics and electrical engineering, operating in the energy, healthcare, and infrastructure & cities sectors With 362,000 employees in 190 countries, Siemens reported worldwide revenue of $24.3 billion, including $5.9 billion in exports, and employs approximately 52,000 people throughout all 50 states and Puerto Rico.<\/p>\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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Siemen\u2019s account reconciliation process was decentralized between each of the company\u2019s business units. Many locations relied on Excel and multiple shared directories to perform general ledger account reconciliation. Siemens wanted an efficient, automated solution that could integrate with their complex ERP environment.<\/p>\n","protected":false},"featured_media":33361,"template":"","topic":[69,76],"product":[79],"class_list":["post-6834","case-study","type-case-study","status-publish","has-post-thumbnail","hentry","topic-account-reconciliation","topic-standardizing-processes","product-cadency"],"acf":[],"lang":"en","translations":{"en":6834},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/case-study\/6834","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":2,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/case-study\/6834\/revisions"}],"predecessor-version":[{"id":50592,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/case-study\/6834\/revisions\/50592"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/media\/33361"}],"wp:attachment":[{"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/media?parent=6834"}],"wp:term":[{"taxonomy":"topic","embeddable":true,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/topic?post=6834"},{"taxonomy":"product","embeddable":true,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/product?post=6834"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}