Case Study: Alltech cuts 8 working days from monthly close with Planful
Key results
The challenge
Growth fueled by acquisitions increased Alltech's financial complexity, and its 200-plus accountants relied on spreadsheets to close and consolidate across more than 140 legal entities running varied ERP systems and charts of accounts. Closing the books averaged 20 business days, so global consolidations were completed only quarterly.
The solution
Alltech implemented Planful to standardize and automate global close, consolidation, and reporting, using pre-built connectors to integrate its many ERP systems and centralize intercompany eliminations.
“It used to take us 20 working days for global consolidation. Planful enables us to reach the draft global consolidation by working day seven and a hard close by working day 12.”
MXMay XuDeputy CFO, Audit and Reporting, Alltech
The results, in context
Alltech moved global consolidation from quarterly to monthly, delivering a draft by working day seven and a hard close by working day 12, down from roughly 20 working days. It automated 95% of intercompany eliminations, consolidated 140-plus entities, and reported zero audit adjustments while serving 250-plus users.