Real results for finance teams.
See how Positive8 has helped organisations resolve complex finance issues, strengthen controls and unlock value.
Finance challenges, solved in the real world.
Open each case study to see the challenge, our response and the result.
01Aerospace and Defence ManufacturerReducing claims payable by £20M
The challenge
The organisation was facing significant challenges with their claims payable processes, which were complicated by their finance system drawing from disparate underwriting, bordereau, and settlement systems. This complexity made it difficult to identify and resolve the underlying causes of £40 million in claims payable balances that were in debit, where a credit balance was expected.
What Positive8 did
Positive8 developed and implemented a comprehensive solution to address the issue. We built a data warehouse and reconciliation platform that allowed the trial balance to be broken down and traced back to source system data at the transaction level. This approach enabled the organisation to match liabilities with cash settlements, providing clarity on outstanding balances and allowing reconciling items to be categorised by business process and materiality. To address both legacy issues and ongoing trading activities, we established daily monitoring procedures to prioritise and resolve discrepancies. We also focused on strengthening the internal team's capabilities by providing training and process improvements, empowering them to monitor, control, and reconcile claims payable on a daily basis.
The outcome
As a result of the new data reconciliation platform and improved processes, the claims payable debit balance was reduced from £40 million to £20 million, while profits were increased by £7 million. The organisation was able to gain greater control over its claims payable processes, ensuring more accurate financial reporting and improved cash flow management going forward.
02International Insurance UnderwriterImproving Data Integration
The challenge
Operating under the stringent regulatory frameworks of Sarbanes-Oxley (SOX) and Solvency II (SII), the organisation required daily data integration and reconciliation across multiple systems to ensure compliance. The process needed to be both thorough and timely, as it involved real-time updates for accounting, capital, and reserving purposes.
What Positive8 did
Positive8 deployed a skilled Data Analyst to manage the integration and reconciliation of data from multiple underwriting and management information systems into the client’s ERP accounting system. Each day, the Data Analyst handled the process of running data integrations, documenting exceptions, and addressing reconciling items to maintain SOX compliance. Most reconciling items were resolved within the trading day, while more complex issues were escalated and tracked to ensure closure by month-end. In addition to daily tasks, the Data Analyst generated month-end and quarter-end data extracts required for regulatory reserving and reporting. These extracts, coupled with the completion of SOX compliance reports, were submitted for review and sign-off by the Financial Controller.
The outcome
With Positive8’s expertise, the Finance Team consistently met SOX compliance requirements, confidently demonstrating regulatory controls at each month-end close. Moreover, the team reliably produced capital and reserving data required under SII each quarter, all while utilising up-to-date management information for enhanced business analysis. This led to a streamlined, compliant reporting process, supporting both regulatory adherence and informed decision-making.
03International Events GroupOptimising Intercompany Reconciliation
The challenge
The client, a global media company, had recently rolled out the SAP R3 ERP system globally and then acquired a competitor operating on an Oracle ERP system. This merger created complex integration challenges for intercompany trading balances, as the combined systems struggled to meet the demands of accurate, timely reporting and balance control.
What Positive8 did
Positive8 assigned a Data Analyst to support the Global Intercompany Team with the immediate challenges of intercompany reconciliation during the transition. The Data Analyst provided critical interim support by documenting key processes, developing training materials, and preparing for a seamless handover to internal staff. As part of daily responsibilities, our Data Analyst prepared intercompany mismatch analyses, investigating discrepancies based on materiality and escalating reconciling items to relevant team members. Through vigilant monitoring and resolution tracking, Positive8 facilitated smoother reconciliation processes and tighter balance control.
The outcome
Positive8’s involvement led to a significant reduction in both the volume and value of reconciling items, bringing the intercompany balance at month-end to a minimal level. The successful handover to the Shared Service Center (SSC) ensured continuity, allowing internal staff to maintain these improved processes seamlessly.
04London Insurance UnderwriterStreamlining Claims Payments & Reducing Costs
The challenge
The organisation required enhanced control over claim payments, while simultaneously looking to reduce costs within its Finance function by transferring certain activities to an Offshore Shared Services Centre (SSC). This required a careful balance between streamlining operations and maintaining strong governance and accuracy in claims payment processes.
What Positive8 did
As Data Analyst, Positive8 worked closely with cross-functional teams to design and implement processes that ensured claim payments were correctly authorised and accounted for, particularly in complex business relationship scenarios. We also documented these processes and created training materials to equip Offshore SSC staff with the knowledge and tools to manage these tasks effectively. We established and monitored daily, monthly, and quarterly reconciliation reporting procedures to ensure that reconciling items were identified and resolved in a timely manner. Additionally, we produced a quarterly reporting pack to support the consolidation of financial information and regulatory reporting requirements.
The outcome
The transition to the Offshore SSC was successfully completed, with significant financial benefits. Multi-million GBP in duplicate claim payments were identified and recovered, while previously unrecorded liabilities, amounting to several million GBP, were identified and properly booked. The implementation of these processes not only improved financial control but also reduced operational costs, driving long-term efficiency within the Finance function.
05International Intelligence and Research GroupResolving a £6 Million Reporting Issue
The challenge
The organisation faced a significant financial reporting issue with £6 million of unidentified intercompany mismatches spread across 160 legal entities, as reported in their year-end balance sheet. The issue was compounded by the global implementation of their SAP ERP system during the financial year, which introduced complexities in intercompany relationships. An audit investigation failed to pinpoint the underlying cause, and the situation was further complicated by the acquisition of a competitor using an Oracle ERP system. As a result, their consolidated reporting systems could not keep pace with the growing complexity of their financial structure.
What Positive8 did
As Interim Global Intercompany Controller, Positive8 quickly took action to resolve the intercompany mismatch and streamline the reporting process. Within two weeks of engagement, we built a Data Interrogation and Reporting Tool that integrated data across disparate systems. This tool allowed for in-depth analysis, helping us uncover the structural issues causing the intercompany mismatch. We then established a Global Intercompany Team of Controllers, each aligned to a specific business process contributing to the mismatch, within six weeks. This team was crucial in investigating and addressing discrepancies across the organisation’s multiple ERP systems. To maintain focus and drive resolution, we implemented a Daily Reporting Regime, which prioritised efforts based on the materiality of the mismatches. This reporting system was aligned with the key half-year reporting deadlines, ensuring that progress was tracked and issues were addressed promptly.
The outcome
Within just three months of appointment, the intercompany mismatch in the balance sheet was reduced from £6 million to £280,000. By the end of our engagement, the necessary people and processes were aligned across multiple ERP platforms, ensuring effective monitoring and control of intercompany balances across the organisation. This set the foundation for continued improvement in intercompany reconciliation and reporting, allowing the company to maintain accurate and reliable financial reporting across its global operations.
06Integrated Security Solutions ProviderOptimising Payments & Security
The challenge
The organisation faced significant challenges with their manual payment process, leading to excessive administrative intervention and inefficiencies. Additionally, there was a lack of clarity around invoices paid to customers, and sensitive customer data was being stored on spreadsheets rather than in a secure environment, creating potential risks.
What Positive8 did
Positive8 was tasked with improving the organisation’s payment process and enhancing data security. We implemented an Electronic Funds Transfer (EFT) system for all customer payments, automating and streamlining the payment process to make it more efficient and effective. As part of the solution, we also updated customer payment records to ensure accuracy and consistency.To improve transparency and provide more detailed information to customers, we introduced additional payment reference options, which allowed for clearer tracking of transactions. Additionally, a remittance advice system was implemented to provide more detailed breakdowns of invoices paid, offering customers greater visibility. Finally, to ensure smooth adoption of the new system, we provided comprehensive process documentation, and a guidance note for staff, facilitating easier training and transition to the updated system.
The outcome
The new EFT payment system enabled the organisation to transition from manual payments to electronic transactions, reducing administrative overhead and improving payment efficiency. The additional reference options brought greater clarity to payment tracking, while the remittance advice system enhanced the information provided to customers. Customer data was successfully secured in a protected environment, addressing previous concerns around data security. The supporting documentation and training materials ensured staff could quickly adapt to the new processes, leading to a smoother transition and a more streamlined payment workflow overall.
07Hospitality and Events ProviderStreamlining Operations and Financial Reporting
The challenge
With plans for expansion and a need for streamlined operational efficiency, the client required a reliable, cohesive electronic point of sale (EPOS) system across its 24 locations. This system needed to support consistent stock and margin management, accurate sales reporting, and secure stock auditing across multiple countries. Furthermore, the organisation required robust financial insights to secure bank support for its expansion plans.
What Positive8 did
Positive8 assigned a Project Accountant to oversee the EPOS system’s rollout across all 24 locations, ensuring each unit received comprehensive support and guidance through the implementation process. To support the client’s growth ambitions, the Project Accountant analysed and produced critical financial reports, which provided insights into expansion viability and supported business plans for bank presentations. In addition, our Project Accountant closely monitored and reported on sales revenue, costs, and margins, providing clear, data-driven reports to the Group Finance Director. This role also involved managing both internal and external stock audits to confirm inventory security and compliance with gross profit (GP) targets, with the audit results analysed and shared with the Finance Director.
The outcome
The successful implementation of the EPOS system enabled consistent, reliable stock and margin management across all international locations, contributing to enhanced data integrity and streamlined sales analysis. These improvements significantly strengthened the client’s operational framework and expansion readiness. Recognised for this outstanding achievement, Positive8’s Project Accountant was awarded Employee of the Month, for their impactful contributions to the project.