General Accounting and Reporting Manager Shortens Close Cycle by 10 Days with Jet Analytics

Challenge

PECO Pallet is a pallet company that manufacturers and rents wood block pallets to businesses around the world. With multiple companies to manage, reporting had become extremely labor-intensive for the accounting team. From journal entries to pulling account analysis and reconciliations together, every account process was manual and time-consuming, riddled with errors, inconsistencies, and data consolidation issues. Due to these system limitations, Chris Carbone, General Accounting and Reporting Manager, was spending days copying and pasting from Dynamics NAV to Excel and losing valuable time every week. PECO Pallet’s close cycle had escalated, taking an average of 15 to 20 days to complete the full financial package and reporting. These delays had started to hinder the companies’ overall visibility into their operations and their ability to respond to changing market conditions. Thankfully, PECO Pallet’s Dynamics NAV partner recommended they make the switch to Jet Analytics, a reporting and business intelligence solution designed for Dynamics NAV.

Solution

For the first time, PECO Pallet employees had meaningful information at their fingertips. After upgrading their system to Dynamics NAV and implementing Jet Analytics, the company has streamlined their monthly accounting processes and introduced regular dashboards for timely decision making – something they weren’t able to do in the past. With the ability to easily pull information from multiple companies quick, Chris has been able to shorten the monthly close cycle to 5 to 7 business days, freeing up time to get involved in other areas of the business. Employees at any level are now able to access and run usable reports and dashboards that are easy to read and fast for business decisions.

“As a medium to large company, we didn’t need a solution that was grand and expensive; we just needed something that was going to meet our needs and last. Jet Analytics fit everything that we were looking for.”