The business issue

Multiple times every year the Comptrollers Department develops and updates various budgets and financial forecasts. As part of the process, an extensive amount of information regarding every single account is gathered at the Operating Companies and then validated and processed at headquarters. Most of the time, the process involves multiple iterations and extensive communication between the responsible personnel on both sides in order to achieve the desired results. The system in place relies on exchanging a large number of MS Excel templates, MS Word documents with instructions, and e-mails. Due to increased competition and much more agility in the markets, ChevronTexaco needed to increase the frequency with which forecast and budgets are developed and updated. The existing inherently unreliable, prone to errors, and very labor-intensive process had proven to be an obstacle.

Our approach

Develop and implement a flexible, scalable, centrally monitored Financial Data Exchange (FDE) system to streamline, standardize and simplify the process. To ensure the security of this extremely sensitive data, the new solution was tightly integrated with the enterprise active Directory.