> Customer Case Studies

Tyco International Finance (www.tyco.com)

Tyco International Finance is responsible for the monitoring of cash flow and creation of new bank accounts for over 1400 entities in the Tyco family of companies. The incumbent system was based on e-mail submissions, had a high staffing requirement, was lacking in audit trails and slow in the creation of reports. Requirements:

• Submission of Quarterly Financial positions from 1400 entities

• Audit Trail and Approval of Submissions by Regional Financial Controllers

• Cash Reports By Entity, Country, Continent

• Credit Reports By Entity, Country, Continent

• Reconciliation Reports

• Bank Account creation audit trail

• Automatic Reminders and Notification to Financial Controllers
  of entities that fail to submit reports

• User level access control

Solution:

Aeon created a web-based interface for the submission of financial positions with user access control. The web-based interface implemented a strict data validation policy and audit trail improving the accuracy and accountability of submissions. The time required to collect data was reduced down to one week and could be operated by a single member of staff. Online dynamic reports were generated using Crystal Reports and were available immediately to Financial Controllers.