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Accelerating Financial Close Cycles in Multinational Enterprises: A Digital Optimization Model Using Power BI and SQL Automation
Subject area: Science,Engineering and Technology · Area of research: Power BI
Abstract
Multinational enterprises (MNEs) face increasing pressure to reduce their financial close cycles without compromising data accuracy, compliance, or audit readiness. This paper proposes a digital optimization model that integrates Microsoft Power BI with SQL-based process automation to accelerate the financial close process. The model addresses major inefficiencies in traditional workflows by enabling real-time reporting, automated reconciliations, and seamless data integration across multiple subsidiaries and ERPs. Leveraging insights from both internal implementation and comparative industry benchmarking, the study demonstrates how automation improves timeliness, reduces manual interventions, and enhances governance. Using a multi-phase methodological approach, the model was tested across a sample of five MNEs operating in diverse regulatory environments. Results revealed a 35% average reduction in close cycle time and notable improvements in data transparency. The findings have significant implications for digital finance transformation in large-scale enterprises seeking agility, control, and compliance in an increasingly complex regulatory landscape.
Keywords
Power BI, SQL Automation, Financial Close, Digital Optimization, Multinational Enterprises, Compliance
How to cite this paper
@article{1709976,
author = {Nnadozie Odinaka, Chinelo Harriet Okolo, Onyeka Kelvin Chima, Oluwatobi Opeyemi Adeyelu},
title = {Accelerating Financial Close Cycles in Multinational Enterprises: A Digital Optimization Model Using Power BI and SQL Automation},
journal = {Iconic Research And Engineering Journals},
year = {2021},
volume = {4},
number = {11},
pages = {504-523},
issn = {2456-8880},
url = {https://www.irejournals.com/formatedpaper/1709976.pdf},
abstract = {Multinational enterprises (MNEs) face increasing pressure to reduce their financial close cycles without compromising data accuracy, compliance, or audit readiness. This paper proposes a digital optimization model that integrates Microsoft Power BI with SQL-based process automation to accelerate the financial close process. The model addresses major inefficiencies in traditional workflows by enabling real-time reporting, automated reconciliations, and seamless data integration across multiple subsidiaries and ERPs. Leveraging insights from both internal implementation and comparative industry benchmarking, the study demonstrates how automation improves timeliness, reduces manual interventions, and enhances governance. Using a multi-phase methodological approach, the model was tested across a sample of five MNEs operating in diverse regulatory environments. Results revealed a 35% average reduction in close cycle time and notable improvements in data transparency. The findings have significant implications for digital finance transformation in large-scale enterprises seeking agility, control, and compliance in an increasingly complex regulatory landscape.},
keywords = {Power BI, SQL Automation, Financial Close, Digital Optimization, Multinational Enterprises, Compliance},
month = {May},
}