Ziraat Bank abolishes consolidation accounting
CSB2 enabled Ziraat Bank to abolish consolidation accounting, shifting the focus to tasks that offer additional business value.
THE CHALLENGE
End-of-day consolidation was an everyday burden, requiring both financial and human resources. It led to limitations and difficulties for Bank employees as customer dissatisfaction.
HOW WE HELPED
Ziraat Bank acquired the CSB2 with its built-in live bookkeeping system and managed to eliminate the need of end-of-day consolidation. Now the Bank is able to:
Reduce expenditure and operating costs
- Labor costs and staff reduction for corrective actions (estimated to 1 man-year per annum)
- Provisioning cost reduction
- No expenditure for acquiring and maintaining systems to achieve agreement of balances
Ιncrease customer satisfaction
- Uninterrupted customer information across all channels with no ''down time'', seeing there is no offline period, due to day closure processes
Improve executive performance and optimize daily work
- Easier production of reports due to account matching
- Back valued transactions do not delay regulatory reporting
THE BANK
Ziraat Bank operates in Greece with branches in Athens, Komotini and Xanthi. Established in 1863, its Turkey’s most deeply rooted bank and offers the widest range of banking services in Turkey and across more than 1700 branches worldwide.
KEY POINTS
CSB2 with the integrated live ledger system, enabled the Bank to reduce costs and at the same time to increase customer satisfaction and performance of its executives
WHAT THEY SAID
Bookkeeping has never been easier than CSB2! System enables us to automatically record GL records, at the time of the transactions and perform consolidations in live mode. Live ledger has abolished the need of end-of-day consolidation.
Ziraat BankSOLUTIONS USED
The following Natech solutions were used in this case.
