Taiwan-based Global Shipping Company Saves Three Weeks with Workiva and PwC

Manual effort proving costly

The accounting team at an international shipping container company previously used traditional tools such as Microsoft Excel to prepare financial reports. This required manual data entry from sources to reports, which led to inconsistencies and limited report preparation and submission time.

With its comprehensive end-to-end reporting solution, the company engaged PwC Taiwan and Workiva to transform their financial reporting to a more automated, cloud-based process—a project which was completed in 3 months.

Workiva and PwC to the rescue

PwC helped identify bottlenecks, established a financial report template and set up more than 200 reporting checkpoints to increase corporate confidence in the quality of financial reports.

PwC also worked with Workiva to connect the customer’s financial report consolidation system data directly to the Workiva cloud reporting platform, improving efficiency and ensuring data consistency.

Three weeks saved 

The company can now bring in data for different disclosure sections in financial statements on a unified platform built for assured, integrated reporting. Users can upload their own working files. Managers can review the accuracy of the data and then use the data for report preparation. There is less risk of human error and more timely access to data. The team reduced report preparation time by 15 days, while significantly improving data accuracy and completeness.

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