Reddit Builds a Spend Database to Support Long-Term Growth
Value as a Service
Reduction in Close Time
Total Savings in 3 Quarters
Pulling data from different systems made budget and forecast planning nearly impossible, and prevented mid- and long-term business decision-making.
Closing took 15 days from start to finish due to a manual accrual process.
Preparing for an IPO required the need for segregation of duties and more visibility and control of spend processes.
Gaining complete visibility into POs, invoices, and vendors at the line item level empowers the company to make more informed business decisions with accurate and timely data.
Closing now takes 6 days or less thanks to automation and the ability to see backlogs in the approval process.
Achieving SOX compliance and streamlining the auditing process ensures IPO readiness.