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MJ Johnson • May 24, 2023

The Story Behind The "Data Cube"

Fortune 1000 multinational companies are confronted with a myriad of intricate issues, ranging from disparate systems to data complexities that involve a staggering 18-24 dimensions. These complexities encapsulate convoluted legal entity structures, inter-company trading partners, chart of accounts, transfer pricing, BEPS Reporting, currency transactions, flow accounting, restatements, scenarios, reclassifications, adjustments, reconciliations, GAAP, IFRS, STAT, Management Reporting, Tax, Treasury, and more. 


These challenges are only exacerbated by multiple sources of General Ledger (GL) and sub-ledger data, which tend to obscure data clarity. Confronted with these multifaceted dimensions, creating visibility into the data for reporting financials and forecasting the enterprise becomes a task as daunting as solving a Rubik's cube!


Despite these hurdles, our clients strive to make the best use of the hand they've been dealt, employing spreadsheet-based manual processes within ever-constricted timeframes and resource limitations. They effectively manage the risks associated with internal controls and financial integrity, all the while operating in a highly regulated environment. The backdrop to their efforts includes compliance with stringent regulations like Sarbanes Oxley 404 and 302, coupled with the reputational risk associated with maintaining financial integrity.


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