How Norfolk Southern Optimised Financial Consolidation, Forecasting, and Strategic Planning with Automation and AI
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Key Takeaways
⇨ Redefining Financial Close: How automation improves efficiency, accelerates closing cycles, and enhances accuracy across business units.
⇨ AI-Powered Forecasting: Using predictive analytics for more strategic financial planning, from asset utilisation to capital investments.
⇨ Finance as a Strategic Powerhouse: Moving beyond transactional reporting to an intelligent, data-driven function that supports business growth.
Legacy financial processes can slow decision-making, introduce inefficiencies, and create reporting challenges—especially in a complex, highly regulated industry like rail transportation. Norfolk Southern faced obstacles in financial consolidation, regulatory reporting, and intercompany reconciliation, all of which required time-consuming manual processes.
To address these challenges, SAP Group Reporting was implemented to automate financial close across multiple subsidiaries. This shift eliminated manual inefficiencies, enhanced data accuracy across all business units, and reduced the financial close cycle by 70%.
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