At a glance
CLSA, a leading capital markets and financial services group, partnered with High Insight to modernize its statutory, management, and segment reporting framework using SEM Business Consolidations (BCS).
The implementation established an automated consolidation architecture supporting multi-ledger accounting, multi-currency conversion, automated intercompany eliminations, and granular segment analysis. Over a five-month engagement, CLSA increased process automation to 95%, boosted reporting data accuracy to 99.9%, and improved operational efficiency by 70%.
The challenge
In the dynamic financial services and capital markets industry, rapid reporting, stringent regulatory compliance, and granular segment visibility are vital for executive decision-making.
CLSA faced growing complexity across its statutory reporting, management reporting, and business segment analysis. Existing consolidation processes relied on manual tasks to map segment-level data, perform intercompany reconciliation, and generate multi-currency outputs. These manual dependencies created delays in producing timely insights and limited finance teams from focusing on advanced portfolio analysis.
The key objectives were to:
- Automate statutory, management, and segment-level financial consolidation
- Support multi-ledger, multi-currency, and multi-version reporting capabilities
- Eliminate manual reconciliation through automated intercompany eliminations
- Improve data accuracy and establish strict governance controls across segment data
- Accelerate period-end close and management insight delivery
- Establish a scalable framework to accommodate evolving capital market operations
The High Insight Approach
High Insight leveraged its specialized domain expertise in SAP Planning, Reporting, and Consolidation to design and deploy an integrated consolidation platform using SEM BCS.
The implementation focused on structuring segment-level hierarchies and automating complex accounting rules. High Insight worked closely with CLSA's finance leadership to configure multi-ledger models, build automated intercompany matching logic, incorporate investment accounting rules, and establish detailed segment-based reporting views.
The solution was delivered within five months, achieving rapid adoption and strict compliance without disrupting live capital market activities.
The Solution
The solution delivered a comprehensive, integrated suite of financial consolidation and segment analytics capabilities, including:
- Statutory and Management Consolidation
- Granular Segment-Based Financial Reporting
- Multi-Ledger and Multi-Version Support
- Multi-Currency Accounting and Revaluations
- Automated Intercompany Matching and Eliminations
- Investment Accounting & Consolidation Methods
- Standardized Audit Trails and Governance Controls
Business Impact
95% Process Automation
Automated routine consolidation, elimination, and segment mapping tasks, drastically reducing administrative burden.
99.9% Data Accuracy
Enforced consistent accounting logic and eliminated manual spreadsheet errors across all reporting dimensions.
70% Efficiency Gain
Accelerated closing cycles, freeing finance teams to dedicate more time to strategic analysis and executive support.
Enhanced Segment Visibility
Provided leadership with detailed, reliable insights into business line and divisional performance.
Robust Governance Framework
Established transparent audit trails and automated controls meeting stringent financial services regulatory standards.
Client perspective
“The new reporting framework has significantly improved the quality, speed, and consistency of the information available to our management teams.”
