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A major credit management company engaged Protiviti to help streamline and centralize its account reconciliation processes. At the time, general ledger balance sheet reconciliations were being performed by multiple groups within the company using different formats and inefficient manual processes. In addition, the company lacked a central repository for storing reconciliations and for generating reports on status, reconciliation variances and proposed adjustments to accounts. The existing practices made visibility into the status of account reconciliation and financial close-related tasks time-consuming and difficult for management to track. This posed a danger of disapproval by regulators, in addition to keeping costs high and bottom line low.