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Securities Industry and Financial Markets Association

A complete finance transformation

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faster accounts payable processing

The Securities Industry and Financial Markets Association (SIFMA) needed a modern, multi-entity solution to manage the organization’s complex financial processes — and demonstrate leadership in the industry.

The Challenge

SIFMA’s finance team used an outdated, on-premises version of Microsoft Dynamics SL to manage its financial processes. Reporting was clucky and difficult, and information couldn’t be released until the books were completely closed. That created a long lag before managers could see financial data — and by then it was outdated and unreliable. And remote access was limited.

The Solution

Wipfli helped SIFMA implement Sage Intacct and overhaul manual workflows. We created a one-stop shop for all SIFMA’s financial processes to flow through, as well as integrated key tools for accounts payable automation, employee expenses and financial reporting. Intacct created a paperless environment with a full audit trail. And it gave SIFMA remote access so it could hire the best talent from anywhere.

Wipfli helped us make a complete finance transformation and made our financial performance more transparent across the organization.
Sophie Usasz, Finance at SIFMA

The results

Eliminating antiquated financial processes yielded big efficiency gains — in fact, SIFMA cut accounts payable processing time in half. With automation and intuitive workflows, managers can see approvals, vendor payments and other transactions via dashboards. Improved reporting and a faster month-end close also helped SIFMA improve budget management and make better decisions, faster. Stakeholders across SIFMA are harnessing the power of real-time information to drive strategy.

Services Engaged

Sage Intacct
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