{"id":7024,"date":"2017-02-02T01:51:20","date_gmt":"2017-02-02T01:51:20","guid":{"rendered":"https:\/\/www.trintech.com\/case-study\/western-southern-financial\/"},"modified":"2025-06-05T14:23:51","modified_gmt":"2025-06-05T14:23:51","slug":"western-southern-financial","status":"publish","type":"case-study","link":"https:\/\/www.trintech.com\/case-study\/western-southern-financial\/","title":{"rendered":"Western & Southern Financial"},"content":{"rendered":"
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Western & Southern Financial<\/h1>\n

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

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

Western & Southern Financial Group had six life insurance companies with separate charts of accounts, each with various reconciliation and compliance processes.<\/p>\n\n\n\n

Wanting to break down these individual silos within its corporate finance function, Western & Southern first consolidated its life insurance companies into a standard chart of accounts. Subsequently, it began to evaluate the reconciliation process within the organization. Each business function maintained its own method of documenting and tracking financial reconciliations. Many finance team resources spent the majority of their day performing high-volume transaction based reconciliations manually. <\/p>\n\n\n\n

It soon became clear that with more than 7,000 general ledger accounts reconciled monthly across different departments, an automated software solution would be required to ensure consistency and efficiency. As a privately owned group of life insurance companies, Western & Southern was required to comply with a regulation similar to Sarbanes-Oxley. Thus, management decided to take a top down, compliance-focused approach towards its financial close and reporting processes.<\/p>\n\n\n\n

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The relationship between accounting and operational activities has historically been a \u201cpitch-this-over-the-wall\u201d exercise. There\u2019s never enough transparency. But we\u2019re changing that with Trintech\u2019s solutions. They offer us real-time visibility into these activities that we just didn\u2019t have before.\u201d<\/p>\n <\/blockquote>\n\n

\n Jason Nickles<\/span>\n \n Director of Corporate Accounting<\/span>\n <\/figcaption>\n\n <\/figure>\n <\/div>\n\n
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Why Cadency?<\/h2>\n\n\n\n

Western & Southern needed a solution that offered a configurable workflow engine allowing for future evolution of processes, allowed drill-down analysis of individual processes, controls and risk attributes, A solution was needed that was flexible enough to integrate with multiple internal systems, eliminate repetitive routine tasks \u201cchecking boxes\u201d and created more time for higher value activities, such as analysis and exception resolution. Western & Southern needed a solution that standardized the way reconciliation, certification and financial close and reporting processes were accomplished.<\/p>\n\n<\/div>\n <\/div>\n<\/div>\n\n\n

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

Trintech\u2019s solutions provide a standard workflow enforcing their standards around the review, certification and approval of reconciliations, 70% of high-volume transactions are matched automatically, freeing up time for the research and resolution of exceptions. <\/p>\n\n\n\n

With Trintech\u2019s solution, 80% of general ledger reconciliations are automatically reconciled while real-time reporting highlights potential bottlenecks, offering a snapshot of the company\u2019s exposure to risk. The solution provides an automated \u201creconciliation by exception\u201d workflow that has decreased the escalation process to financial reporting by nearly one month with an ability to provide more timely, summarized reconciliation reporting for each of Western & Southern\u2019s 6 insurance entities and more educated, productive and motivated team members.<\/p>\n\n<\/div>\n <\/div>\n<\/div>\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>","protected":false},"excerpt":{"rendered":"

\u201cTrintech\u2019s solution is flexible enough to integrate with any of our systems,\u201d said Jason Nickles, Director of Corporate Accounting, Western & Southern. \u201cIt doesn\u2019t lock you in. The workflow has really taken our financial processes to the next level. I can push new instructions and feedback straight through the solutions to our end-users. Management can now monitor the status of our financial activities and communicate changes in priority in real time with individual team members.\u201d<\/p>\n","protected":false},"featured_media":33386,"template":"","topic":[66,75],"product":[79],"class_list":["post-7024","case-study","type-case-study","status-publish","has-post-thumbnail","hentry","topic-controls-compliance","topic-rpa","product-cadency"],"acf":[],"lang":"en","translations":{"en":7024},"pll_sync_post":[],"_links":{"self":[{"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/case-study\/7024","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\/7024\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/media\/33386"}],"wp:attachment":[{"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/media?parent=7024"}],"wp:term":[{"taxonomy":"topic","embeddable":true,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/topic?post=7024"},{"taxonomy":"product","embeddable":true,"href":"https:\/\/www.trintech.com\/wp-json\/wp\/v2\/product?post=7024"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}