Investment in Technology or Infrastructure
(Ex - AI, Machine Learning, Robotics)
Customer Challenge
BDO Solution
Results and Benefits
A logistics company was struggling with very manual processes and decided to make a digital transformation shift to more automated tasks. They recruited a team of 10 data scientists focused on automating data extraction from documents submitted by their drivers (e.g. scale tickets, receipts, logs, etc.). Their algorithm was decent for data extraction, but it needed higher accuracy.
BDO helped improve the algorithm’s data extraction capability and ensured that it performed at a higher accuracy level than the human team.
The company took 5 data-entry employees and redeployed them to more value-add tasks, saving them over $250,000 in a year.
Customer Challenge
BDO Solution
Results and Benefits
Managing Through Economic Downturn
The COVID-19 pandemic has put additional pressure on CFOs to curb costs and do more with fewer resources as many companies have experienced a significant reduction in their revenue.
BDO has helped organizations automate simple and repetitive processes to reduce time spent on costly manual tasks and increase efforts to deliver mission critical work.
Automation has impacted every business department, from accounts receivable to record-keeping. The benefits of automation include cost-savings, speed, productivity and accuracy.
Customer Challenge
BDO Solution
Results and Benefits
Enabling Digital Transformation by Leveraging the Cloud
A healthcare company struggled with a data platform that was reaching end of life. This platform provided data insights to thousands of clinical and operational staff.
BDO performed a 35 TB data architecture modernization to the cloud, which enabled scalable delivery of data insights to clinical and operational leaders. The modernized infrastructure brought better performance, risk mitigation, and disaster recovery and the new ecosystem enabled evolution to advanced and predictive analytics.
Over $4 million in projected infrastructure cost reduction in 5 years. Enablement of thousands of clinical and operational data consumers, including use cases like physician compensation, anesthesia, orthopedic research, and radiology.
The role of the CFO continues to evolve to meet new challenges and new realities that may require reorganization, a reimaged workforce and a fresh look at risk.
According to the 2021 BDO Middle Market CFO Outlook Survey of 600 CFOs, 50% are planning to pursue a digital transformation strategy as they think about the path forward to unlock new opportunities and thrive. 59% will increase IT spending in 2021. CFOs that leverage digital transformation and data strategy tools will be better positioned to meet the dynamic demands of their role.
As CFOs continue to focus on resilience, data-driven decision making and analysis will be critical to their ability to plan with precision, mitigate emerging risk and enhance profitability.
Here are the top 7 business priorities for CFOs in 2021 and how a data strategy can support these priorities.
What’s Next for CFOs:
How About Strategy, Data Analytics and Automation?
Learn how you can lead the analytics strategy in your organization by downloading the whitepaper Getting From A to AI – The Path to Data Analytics Maturity which explores what can be achieved with a mature data analytics program and how artificial intelligence can change the way CFOs provides insights.
Customer Challenge
BDO Solution
Results and Benefits
Need for Accurate and Auditable Data
A franchisor had multiple locations, each with a different point of sale system. They needed to pull data from each system daily, aggregate it, and report on it in real time. The time-consuming process required manually logging into each system, running individual reports, and combining them. This task would become impossible as they grew from 4 locations to 200 locations.
BDO developed an automated bot that pulled reports from each location and aggregated the data in one place for accurate and efficient reporting.
BDO’s bot captures the data and runs overnight, allowing management to focus on real-time decision making and saving an estimated $200,000 per year.
Customer Challenge
BDO Solution
Results and Benefits
Meet Compliance Requirements in an Unstable Political Environment
A leading global manufacturing company that focuses on pharmaceuticals and medical devices was consistently challenged with restricted products sales and regulations.
BDO developed an automated process that allowed the company to identify restricted product sales to specific customers across multiple distributors, ensuring compliance with regulations.
The company mitigated weak controls around their restricted customers and avoided causing a shortage in an essential product in the U.S. healthcare system.
Customer Challenge
BDO Solution
Results and Benefits
Identification of Fraudulent Activities
A large plumbing products distributor with more than 6,000 products was concerned about the lack of controls in their payments system and the potential for “ghost vendors” invoicing them fraudulently.
Using fraud analytics, BDO delivered internal audit efficiency and automation through geo-identification and review of vendors. Vendor addresses were visualized to perform a more thorough review of each company using automated validation of phone numbers and contact email addresses along with verification of physical pictures of locations.
Over $1 million in false payments to ghost vendors was identified.
Customer Challenge
BDO Solution
Results and Benefits
Reduction of Spend
A large hospitality group that manages and provides food and beverage concessions, premium dining, entertainment, lodging, and retail at many large venues engaged BDO to analyze their SAP system for duplicate payments to vendors. The default duplicate payment control system looked for duplicates within business units, but it was not set up to look across business units.
With the help of BDO, over time, vendors learned that they could send the same invoice to two different business units and get paid twice.
Over $2 million in duplicate payments to vendors was identified.
Customer Challenge
BDO Solution
Results and Benefits
Managing Through Economic Downturn
Customer Challenge
BDO Solution
Results and Benefits
Automation has impacted every business department, from accounts receivable to record-keeping. The benefits of automation include cost-savings, speed, productivity and accuracy.
Results and Benefits
BDO has helped organizations automate simple and repetitive processes to reduce time spent on costly manual tasks and increase efforts to deliver mission critical work.
BDO Solution
The COVID-19 pandemic has put additional pressure on CFOs to curb costs and do more with fewer resources as many companies have experienced a significant reduction in their revenue.
Customer Challenge
Investment in Technology or Infrastructure
(Ex - AI, Machine Learning, Robotics)
Customer Challenge
BDO Solution
Results and Benefits
The company took 5 data-entry employees and redeployed them to more value-add tasks, saving them over $250,000 in a year.
Results and Benefits
BDO helped improve the algorithm’s data extraction capability and ensured that it performed at a higher accuracy level than the human team.
BDO Solution
A logistics company was struggling with very manual processes and decided to make a digital transformation shift to more automated tasks. They recruited a team of 10 data scientists focused on automating data extraction from documents submitted by their drivers (e.g. scale tickets, receipts, logs, etc.). Their algorithm was decent for data extraction, but it needed higher accuracy.
Customer Challenge
Enabling Digital Transformation by Leveraging the Cloud
Customer Challenge
BDO Solution
Results and Benefits
Over $4 million in projected infrastructure cost reduction in 5 years. Enablement of thousands of clinical and operational data consumers, including use cases like physician compensation, anesthesia, orthopedic research, and radiology.
Results and Benefits
BDO performed a 35 TB data architecture modernization to the cloud, which enabled scalable delivery of data insights to clinical and operational leaders. The modernized infrastructure brought better performance, risk mitigation, and disaster recovery and the new ecosystem enabled evolution to advanced and predictive analytics.
BDO Solution
A healthcare company struggled with a data platform that was reaching end of life. This platform provided data insights to thousands of clinical and operational staff.
Customer Challenge
Enabling Digital Transformation by Leveraging the Cloud
Customer Challenge
BDO Solution
Results and Benefits
Over $4 million in projected infrastructure cost reduction in 5 years. Enablement of thousands of clinical and operational data consumers, including use cases like physician compensation, anesthesia, orthopedic research, and radiology.
Results and Benefits
BDO performed a 35 TB data architecture modernization to the cloud, which enabled scalable delivery of data insights to clinical and operational leaders. The modernized infrastructure brought better performance, risk mitigation, and disaster recovery and the new ecosystem enabled evolution to advanced and predictive analytics.
BDO Solution
A healthcare company struggled with a data platform that was reaching end of life. This platform provided data insights to thousands of clinical and operational staff.
Customer Challenge
Identification of Fraudulent Activities
Customer Challenge
BDO Solution
Results and Benefits
Over $1 million in false payments to ghost vendors was identified.
Results and Benefits
Using fraud analytics, BDO delivered internal audit efficiency and automation through geo-identification and review of vendors. Vendor addresses were visualized to perform a more thorough review of each company using automated validation of phone numbers and contact email addresses along with verification of physical pictures of locations.
BDO Solution
A large plumbing products distributor with more than 6,000 products was concerned about the lack of controls in their payments system and the potential for “ghost vendors” invoicing them fraudulently.
Customer Challenge
Reduction of Spend
Customer Challenge
BDO Solution
Results and Benefits
Over $2 million in duplicate payments to vendors was identified.
Results and Benefits
With the help of BDO, over time, vendors learned that they could send the same invoice to two different business units and get paid twice.
BDO Solution
A large hospitality group that manages and provides food and beverage concessions, premium dining, entertainment, lodging, and retail at many large venues engaged BDO to analyze their SAP system for duplicate payments to vendors. The default duplicate payment control system looked for duplicates within business units, but it was not set up to look across business units.
Customer Challenge