Streamlining closing processes at Maersk

A significant decrease in the time spent performing controls and automating workflow processes.

Streamlining closing processes
Photo credits: Maersk

About Maersk

The global conglomerate Maersk Group operates in more than 130 countries spanning the industries shipping, logistics, oil, and gas with upwards of 80,000 employees. The organization was founded in Denmark and continues to be headquartered in Copenhagen with offices around the globe.

A need for easier reconciliation

Maersk Group Accounting, responsible for Maersk Group’s interim and annual financial statements for internal audits, had a need for streamlining their closing processes and reducing the time required for reconciliation. Group Accounting carries out an extensive set of periodic internal controls as well as investigative quarterly variance analyses. Impero fulfilled Maersk Group Accounting’s need for an agile tool built to set up and simplify extensive controls.

Expanding the use and gaining clarity

Maersk Group Accounting implemented Impero in 2015 and began managing monthly and quarterly internal controls in their closing process. Upon implementation, Group Accounting began using Impero’s datasheet to streamline the variance analysis process, which is fully supported by our software. Impero ensures an efficient and flexible workflow and the dynamic datasheet is easily distributed to relevant group accounting controllers.

Decreasing time, cost, and effort

Since Maersk Group Accounting implemented Impero in 2015 and continuously expanded the use of our solution, Group Accounting has experienced a significant decrease in the time spent performing controls, automating workflow processes, and performing the variance analysis process.

Impero has grown with Maersk Group Accounting as has their use of the solution, and Impero now supports the internal audit process from beginning to end.

Photo credits: Maersk

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