How Hershey Trust Company Streamlined Financial Reporting with Solver
Company: Hershey Trust Company
Industry: Finance
ERP: Microsoft Dynamics 365 Business Central
Use Case: Reporting, Planning (Budgeting & Forecasting), Analysis
“Solver is a great tool for both financial and non-financial reporting, allowing you to meet complex organizational reporting requirements. RSM's excellent training helped us better understand Solver's power both during implementation and post-implementation.”
Kyle D'Angelo, Director of Financial Reporting, Planning, and Analysis, Hershey Trust Company
-
View Full Transcript
00:03 [Music]
00:07 What's my favorite Solver feature? Well, it's got to be the Data Warehouse. I love the ability to take dimensions and enhance them with additional attributes to transform accounting data and make it relevant. This allows us to use alternative data classifications for reporting, such as management, financial, and regulatory.
00:25 [Music]
00:28 The words I would use are agility and structure. Agility because it allows us to adapt to changing business requirements. Structure because it's a solid framework for data management and flexibility in reporting. This combination ensures that we can rapidly respond to new challenges without compromising the accuracy and reliability of our financial processes.
00:52 Solver has helped our organization be more efficient by helping us achieve our unique reporting requirements quicker and more effectively.
01:02 Let's talk about line item detail and drill-down capabilities for a second. Both outside and inside the finance department, this is the most utilized feature. For instance, if someone wants to know if something's budgeted, they can always see for themselves.
01:18 Before Solver, our reporting, planning, and analysis process was one-dimensional. We relied heavily on static reporting and spreadsheets. After implementing Solver, we gained the ability to capture, transform, and drill into our data. Solver adds layers and insights that provide more comprehensive and dynamic views. This allows a multi-dimensional approach and enables us to be more agile in responding to constantly changing business requirements.
Replacing Static Spreadsheets with a Dynamic Data Warehouse
The Problem
After migrating to Microsoft Dynamics 365 Business Central, Hershey Trust Company found its existing reporting solution incompatible. The Company needed a system that supported a dimensional chart of accounts alongside complex financial, regulatory, and planning requirements.
The Solution
Hershey Trust Company chose Solver to meet its complex financial and regulatory reporting demands. Solver helped the Company transition from a traditional chart of accounts to a dimensional one, optimizing the value of its new ERP and improving budgeting processes.
The Result
Despite handling the same volume of data as before, Hershey Trust Company now gains significantly more insight from it. The data warehouse's ease of use helped the team unlock more granular, enhanced reporting across the organization.