Case Studies Pinnacle Saves 2,000 Hours & Countless Headaches on Annual Audit

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	Pinnacle Saves 2,000 Hours & Countless Headaches on Annual Audit

Pinnacle Saves 2,000 Hours & Countless Headaches on Annual Audit

Technology Category	Application Infrastructure & Middleware - Data Exchange & Integration Application Infrastructure & Middleware - Data Visualization Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries	Agriculture
Applicable Functions	Business Operation Quality Assurance
Services	Software Design & Engineering Services System Integration
Challenge	Pinnacle’s business and demands on finance were growing too fast for its existing FP&A software to handle. Ad hoc reporting and analyses were too cumbersome for the FP&A team, especially during audit season. Reconciling and re-reconciling accounts across 8 companies made the close process frustrating. Read More
About Customer	Pinnacle Agricultural Holdings is a major player in the agricultural retail and wholesale distribution sector, operating across 27 states in the United States. With a revenue of $1.5 billion, Pinnacle serves a wide range of customers, from small farmers to large agricultural enterprises. The company has a robust financial structure and relies heavily on its finance team to manage complex financial processes, including financial close management, account reconciliations, reporting, and audits. Pinnacle's finance team consists of 19 users who were previously using Dynamics GP for their financial planning and analysis (FP&A) needs. However, as the company grew, the existing software could no longer keep up with the increasing demands, leading to inefficiencies and frustrations, particularly during audit seasons. Read More
Solution	Pinnacle implemented Vena’s platform to address their growing financial management needs. Vena’s database and GL integration provided instant access to historical data going back 12-24 months, which was crucial for accurate financial reporting and audits. The platform's workflow automation ensured that all financial close tasks and reports were completed accurately and on time, reducing the manual workload on the FP&A team. Additionally, Vena’s drill-down features allowed accountants and auditors to self-serve and access detailed information behind summary numbers, making the audit process more transparent and efficient. This comprehensive solution not only streamlined Pinnacle’s financial processes but also provided the finance team with the tools they needed to manage their growing business effectively. Read More Log in to view content
Contents

Technology Category

Application Infrastructure & Middleware - Data Exchange & Integration

Application Infrastructure & Middleware - Data Visualization

Platform as a Service (PaaS) - Data Management Platforms

Applicable Industries

Agriculture

Applicable Functions

Business Operation

Quality Assurance

Services

Software Design & Engineering Services

System Integration

Challenge

Pinnacle’s business and demands on finance were growing too fast for its existing FP&A software to handle. Ad hoc reporting and analyses were too cumbersome for the FP&A team, especially during audit season. Reconciling and re-reconciling accounts across 8 companies made the close process frustrating.

About Customer

Pinnacle Agricultural Holdings is a major player in the agricultural retail and wholesale distribution sector, operating across 27 states in the United States. With a revenue of $1.5 billion, Pinnacle serves a wide range of customers, from small farmers to large agricultural enterprises. The company has a robust financial structure and relies heavily on its finance team to manage complex financial processes, including financial close management, account reconciliations, reporting, and audits. Pinnacle's finance team consists of 19 users who were previously using Dynamics GP for their financial planning and analysis (FP&A) needs. However, as the company grew, the existing software could no longer keep up with the increasing demands, leading to inefficiencies and frustrations, particularly during audit seasons.

Solution

Pinnacle implemented Vena’s platform to address their growing financial management needs. Vena’s database and GL integration provided instant access to historical data going back 12-24 months, which was crucial for accurate financial reporting and audits. The platform's workflow automation ensured that all financial close tasks and reports were completed accurately and on time, reducing the manual workload on the FP&A team. Additionally, Vena’s drill-down features allowed accountants and auditors to self-serve and access detailed information behind summary numbers, making the audit process more transparent and efficient. This comprehensive solution not only streamlined Pinnacle’s financial processes but also provided the finance team with the tools they needed to manage their growing business effectively.

Impact #1	Self-serve reporting and drill-down features helped save Pinnacle 2,000 hours on their annual audit.
Impact #2	Data integration cut Pinnacle’s review time in half by ensuring all numbers tied back directly to its GL.
Impact #3	Finance executives can walk into meetings with instant access to – and confidence in – the numbers they need.

Impact #1

Self-serve reporting and drill-down features helped save Pinnacle 2,000 hours on their annual audit.

Impact #2

Data integration cut Pinnacle’s review time in half by ensuring all numbers tied back directly to its GL.

Impact #3

Finance executives can walk into meetings with instant access to – and confidence in – the numbers they need.

Benefit #1	2,000 hours saved on annual audit process.

Benefit #1

2,000 hours saved on annual audit process.

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Overview

Pinnacle Saves 2,000 Hours & Countless Headaches on Annual Audit

Operational Impact

Quantitative Benefit