International Peer-Reviewed JournalOpen AccessISSN 2456-8880
irejournals@gmail.com+91-7433024337

Home / Current Issue / Paper 1709976

1709976 Vol 4 · Issue 11 Download Paper

Accelerating Financial Close Cycles in Multinational Enterprises: A Digital Optimization Model Using Power BI and SQL Automation

Nnadozie Odinaka Chinelo Harriet Okolo Onyeka Kelvin Chima Oluwatobi Opeyemi Adeyelu

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

References

[1] T. Adenuga and F. C. Okolo, “Automating Operational Processes as a Precursor to Intelligent, Self-Learning Business Systems,” J. Front. Multidiscip. Res., vol. 2, no. 1, pp. 133– 147, 2021, 147.

[2] M. T. Ayumu and T. C. Ohakawa, “Optimizing Public-Private Partnerships (PPP) in Affordable Housing Through Fiscal Accountability Frameworks, Ghana in Focus,” vol. 5, no. 6, 2021.

[3] B. O. Otokiti and A. E. Onalaja, “The role of strategic brand positioning in driving business growth and competitive advantage,” Iconic Res. Eng. J., vol. 4, no. 9, pp. 151–168, 2021.

[4] A. I. Daraojimba, J. C. Ogeawuchi, A. A. Abayomi, O. A. Agboola, and E. Ogbuefi, “Systematic Review of Serverless Architectures and Business Process Optimization,” vol. 5, no. 4, 2021.

[5] Enoch Oluwadunmininu Ogunnowo, Musa Adekunle Adewoyin, Joyce Efekpogua Fiemotongha, Thompson Odion Igunma, Adeniyi K Adeleke, “Systematic Review of Non-Destructive Testing Methods for Preventive Failure Analysis in Mechanical Systems.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=6SQ3ZwQAAAAJ& citation_for_view=6SQ3ZwQAAAAJ:Tyk- 4Ss8FVUC

[6] G. Agho, M. O., Ezeh, M., Isong, D., Iwe, K. A., and Oluseyi, “Sustainable Pore Pressure Prediction and its Impact on Geo-mechanical Modelling for Enhanced Drilling Operations.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=COMxOPwAAAAJ &citation_for_view=COMxOPwAAAAJ:Y0pC ki6q_DkC

[7] David Ajiga, “Strategic Framework for Leveraging Artificial Intelligence to Improve Financial Reporting Accuracy and Restore Public Trust.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=zC5wizQAAAAJ&c itation_for_view=zC5wizQAAAAJ:hqOjcs7Dif 8C

[8] Oluwafunmilayo Janet Esan Osazee Onaghinor, Ogechi Thelma Uzozie, “Resilient Supply Chains in Crisis Situations: A Framework for Cross-Sector Strategy in Healthcare, Tech, and Consumer Goods.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=yNF_pYQAAAAJ& cstart=20&pagesize=80&citation_for_view=yN F_pYQAAAAJ:LkGwnXOMwfcC

[9] S. Mohanty, M. Jagadeesh, and H. Srivatsa, Big data imperatives: enterprise big data warehouse, BI implementations and analytics. Apress, 2013. [Online]. Available: https://books.google.com/books?hl=en&lr=&id =WZdqU45XfkkC&oi=fnd&pg=PP3&dq=Pow er+BI,+SQL+Automation,+Financial+Close,+D igital+Optimization,+Multinational+Enterprises, +Compliance&ots=haSvmjGUWB&sig=QX9D oAlfBPGi50zg35Zij_befOk

[10] Omamode Henry Orieno Oluchukwu Modesta Oluoha, Abisola Odeshina, Oluwatosin Reis, Friday Okpeke, Verlinda Attipoe, “Project Management Innovations for Strengthening Cybersecurity Compliance across Complex Enterprises.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=VgMdQ9UAAAAJ &citation_for_view=VgMdQ9UAAAAJ:9yKS N-GCB0IC

[11] Oluwafunmilayo Janet Esan Osazee Onaghinor, Ogechi Thelma Uzozie, “Predictive Modeling in Procurement: A Framework for Using Spend Analytics and Forecasting to Optimize Inventory Control.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=yNF_pYQAAAAJ& cstart=20&pagesize=80&citation_for_view=yN F_pYQAAAAJ:ufrVoPGSRksC

[12] M. Minelli, M. Chambers, and A. Dhiraj, Big Data, Big Analytics: Emerging Business Intelligence and Analytic Trends for Today’s Businesses, 1st ed. Wiley, 2013. 10.1002/9781118562260.

[13] B. I. Adekunle, E. C. Chukwuma-Eke, E. D. Balogun, and K. O. Ogunsola, “Predictive Analytics for Demand Forecasting: Enhancing Business Resource Allocation Through Time Series Models,” J. Front. Multidiscip. Res., vol. 2, no. 1, pp. 32 –42, 2021, 10.54660/.IJFMR.2021.2.1.32-42.

[14] Azeez Odetunde, Bolaji Iyanu Adekunle, and Jeffrey Chidera Ogeawuchi, “(PDF) Developing Integrated Internal Control and Audit Systems for Insurance and Banking Sector Compliance Assurance,” ResearchGate. [Online]. Available: https://www.researchgate.net/publication/39213 0730_Developing_Integrated_Internal_Control_ and_Audit_Systems_for_Insurance_and_Bankin g_Sector_Compliance_Assurance

[15] F. U. Ojika, W. O. Owobu, O. A. Abieba, O. J. Esan, B. C. Ubamadu, and A. Ifesinachi, “Optimizing AI Models for Cross-Functional Collaboration: A Framework for Improving Product Roadmap Execution in Agile Teams,” vol. 5, no. 1, 2021.

[16] B. I. Ashiedu, E. Ogbuefi, U. S. Nwabekee, J. C. Ogeawuchi, and A. A. Abayomi, “Leveraging Real-Time Dashboards for Strategic KPI Tracking in Multinational Finance Operations,” vol. 4, no. 8, 2021.

[17] C. I. Okolie, O. Hamza, A. Eweje, A. Collins, G. O. Babatunde, and B. C. Ubamadu, “Leveraging digital transformation and business analysis to improve healthcare provider portal,” Iconic Res. Eng. J., vol. 4, no. 10, pp. 253–257, 2021.

[18] O. E. Adesemoye, E. C. Chukwuma-Eke, C. I. Lawal, N. J. Isibor, A. O. Akintobi, and F. S. Ezeh, “Integrating Digital Currencies into Traditional Banking to Streamline Transactions and Compliance”.

[19] R. Lacurezeanu, A. Tiron-Tudor, and V. P. Bresfelean, “Robotic process automation in audit and accounting,” Audit Financ., vol. 18, no. 4, pp. 752–770, 2020.

[20] P. E. Odio, E. Kokogho, T. A. Olorunfemi, M. O. Nwaozomudoh, I. E. Adeniji, and A. Sobowale, “Innovative Financial Solutions: A Conceptual Framework for Expanding SME Portfolios in Nigeria’s Banking Sector,” Int. J. Multidiscip. Res. Growth Eval., vol. 2, no. 1, pp. 495 –507, 2021, 10.54660/.IJMRGE.2021.2.1.495-507.

[21] A. Sharma, B. I. Adekunle, J. C. Ogeawuchi, A. A. Abayomi, and O. Onifade, “Governance Challenges in Cross-Border Fintech Operations: Policy, Compliance, and Cyber Risk Management in the Digital Age,” Iconic Res. Eng. J., vol. 4, no. 9, pp. 278–286, Mar. 2021.

[22] K. O. Ogunsola and E. D. Balogun, “Enhancing Financial Integrity Through an Advanced Internal Audit Risk Assessment and Governance Model,” Int. J. Multidiscip. Res. Growth Eval., vol. 2, no. 1, pp. 781–790, 2021, 10.54660/.IJMRGE.2021.2.1.781-790.

[23] K. Kraus and N. Kraus, “The impact of servation on the results of economic digital entrepreneurship activities,” 2020, [Online]. Available: https://elibrary.kubg.edu.ua/id/eprint/31755/

[24] ENOCH OLUWABUSAYO ALONGE1 et al., “Digital Transformation in Retail Banking to Enhance Customer Experience and Profitability.” [Online]. Available: https://www.researchgate.net/profile/Enoch- Alonge/publication/390023729_Digital_Transfo rmation_in_Retail_Banking_to_Enhance_Custo mer_Experience_and_Profitability/links/67dc38 5772f7f37c3e750efa/Digital-Transformation-in- Retail-Banking-to-Enhance-Customer- Experience-and-Profitability.pdf

[25] J. P. Onoja, O. Hamza, A. Collins, U. B. Chibunna, A. Eweja, and A. I. Daraojimba, “Digital Transformation and Data Governance: Strategies for Regulatory Compliance and Secure AI-Driven Business Operations,” J. Front. Multidiscip. Res., vol. 2, no. 1, pp. 43– 55, 2021, 55.

[26] M. Kihn and C. B. O’Hara, Customer data platforms: Use people data to transform the future of marketing engagement. John Wiley & Sons, 2020. [Online]. Available: https://books.google.com/books?hl=en&lr=&id =odUGEAAAQBAJ&oi=fnd&pg=PA1&dq=Po wer+BI,+SQL+Automation,+Financial+Close,+ Digital+Optimization,+Multinational+Enterpris es,+Compliance&ots=YDmZZQUZtU&sig=ww vQZKawPnD4M1VrK6Fdb60_3kU

[27] Musa Adekunle Adewoyin, “Developing frameworks for managing low-carbon energy transitions: overcoming barriers to implementation in the oil and gas industry,” Magna Sci. Adv. Res. Rev., vol. 1, no. 3, pp. 068–075, Apr. 2021, 10.30574/msarr.2021.1.3.0020.

[28] S. C. Keenan, Financial Institution Advantage and the Optimization of Information Processing. John Wiley & Sons, 2015.

[29] R. Odogwu, J. C. Ogeawuchi, A. A. Abayomi, O. A. Agboola, and S. Owoade, “Developing Conceptual Models for Business Model Innovation in Post-Pandemic Digital Markets,” vol. 5, no. 6, 2021.

[30] M. O. Nwaozomudoh, P. E. Odio, E. Kokogho, T. A. Olorunfemi, I. E. Adeniji, and A. Sobowale, “Developing a Conceptual Framework for Enhancing Interbank Currency Operation Accuracy in Nigeria’s Banking Sector,” Int. J. Multidiscip. Res. Growth Eval., vol. 2, no. 1, pp. 481–494, 2021, 10.54660/.IJMRGE.2021.2.1.481-494.

[31] E. C. Chukwuma-Eke, O. Y. Ogunsola, and N. J. Isibor, “Designing a Robust Cost Allocation Framework for Energy Corporations Using SAP for Improved Financial Performance,” Int. J. Multidiscip. Res. Growth Eval., vol. 2, no. 1, pp. 809 –822, 2021, 10.54660/.IJMRGE.2021.2.1.809-822.

[32] A. Y. Onifade, J. C. Ogeawuchi, A. A. Abayomi, O. A. Agboola, R. E. Dosumu, and O. O. George, “Advances in Multi-Channel Attribution Modeling for Enhancing Marketing ROI in Emerging Economies,” vol. 5, no. 6, 2021.

[33] O. E. Akpe, D. Kisina, S. Owoade, A. C. Uzoka, R. C. Ubanadu, and A. I. Daraojimba, “Advances in Federated Authentication and Identity Management for Scalable Digital Platforms,” J. Front. Multidiscip. Res., vol. 2, no. 1, pp. 87 –93, 2021, 10.54660/.IJFMR.2021.2.1.87-93.

[34] A. I. Daraojimba and E. D. Balogun, “118 PUBLICATIONS 6,307 CITATIONS SEE PROFILE,” vol. 4, no. 9, 2021.

[35] F. U. Ojika, W. O. Owobu, O. A. Abieba, O. J. Esan, B. C. Ubamadu, and A. Ifesinachi, “A Conceptual Framework for AI-Driven Digital Transformation: Leveraging NLP and Machine Learning for Enhanced Data Flow in Retail Operations,” vol. 4, no. 9, 2021.

[36] A. S. Ogunmokun, E. D. Balogun, and K. O. Ogunsola, “A Conceptual Framework for AI- Driven Financial Risk Management and Corporate Governance Optimization,” Int. J. Multidiscip. Res. Growth Eval., vol. 2, no. 1, pp. 772 –780, 2021, 10.54660/.IJMRGE.2021.2.1.772-780.

[37] F. C. Okolo, E. A. Etukudoh, O. Ogunwole, G. O. Osho, and J. O. Basiru, “A Conceptual Framework for Data-Driven Optimization in Transportation Logistics and Infrastructure Asset Management,” vol. 5, no. 1, 2021.

[38] N. J. Isibor, C. Paul-Mikki Ewim, A. I. Ibeh, E. M. Adaga, N. J. Sam-Bulya, and G. O. Achumie, “A Generalizable Social Media Utilization Framework for Entrepreneurs: Enhancing Digital Branding, Customer Engagement, and Growth,” Int. J. Multidiscip. Res. Growth Eval., vol. 2, no. 1, pp. 751–758, 2021, 758.

[39] B. I. Adekunle, E. C. Chukwuma-Eke, E. D. Balogun, and K. O. Ogunsola, “A Predictive Modeling Approach to Optimizing Business Operations: A Case Study on Reducing Operational Inefficiencies through Machine Learning,” Int. J. Multidiscip. Res. Growth Eval., vol. 2, no. 1, pp. 791–799, 2021, 10.54660/.IJMRGE.2021.2.1.791-799.

[40] ED Balogun, KO Ogunsola, AS Ogunmokun, “A risk intelligence framework for detecting and preventing financial fraud in digital marketplaces. IRE Journals. 2021; 4 (8): 134- 140.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=JODGDIIAAAAJ&a uthuser=1&citation_for_view=JODGDIIAAAA J:Wp0gIr-vW9MC

[41] S. Kaur, “Identifying & Analyzing Security Vulnerabilities While Integration of Data from Cloud to SQL DBMS: An Industrial Case Study,” Master’s Thesis, North Dakota State University, 2020. [Online]. Available: https://search.proquest.com/openview/1b186aab 09a9e949f010112f9ea68a23/1?pq- origsite=gscholar&cbl=18750&diss=y

[42] S. Esiri, “A Strategic Leadership Framework for Developing Esports Markets in Emerging Economies,” Int. J. Multidiscip. Res. Growth Eval., vol. 2, no. 1, pp. 717–724, 2021, 10.54660/.IJMRGE.2021.2.1.717-724.

[43] GODWIN OZOEMENAM ACHUMIE NGOZI JOAN ISIBOR, AUGUSTINE IFEANYI IBEH, CHIKEZIE PAUL-MIKKI EWIM, NGODOO JOY SAM-BULYA, EJUMA MARTHA ADAGA, “A Strategic Resilience Framework for SMEs: Integrating Digital Transformation, Financial Literacy, and Risk Management.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=4JmgDS8AAAAJ&c start=20&pagesize=80&citation_for_view=4Jm gDS8AAAAJ:YOwf2qJgpHMC

[44] A. Odetunde, B. I. Adekunle, and J. C. Ogeawuchi, “A Systems Approach to Managing Financial Compliance and External Auditor Relationships in Growing Enterprises,” vol. 4, no. 12, 2021.

[45] Oladuji T.J., Adewuyi A., Nwangele C.R., Akintobi A.O., “Advancements in Financial Performance Modeling for SMEs: AI-Driven Solutions for Payment Systems and Credit Scoring.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=Zm0csPMAAAAJ& cstart=20&pagesize=80&authuser=1&citation_f or_view=Zm0csPMAAAAJ:KlAtU1dfN6UC

[46] Nwangele C.R., Adewuyi A., Ajuwon A., Akintobi A.O., “Advancements in Real-Time Payment Systems: A Review of Blockchain and AI Integration for Financial Operations.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=Zm0csPMAAAAJ& cstart=20&pagesize=80&authuser=1&citation_f or_view=Zm0csPMAAAAJ:kNdYIx-mwKoC

[47] B. I. Adekunle, E. C. Chukwuma-Eke, E. D. Balogun, and K. O. Ogunsola, “A Predictive Modeling Approach to Optimizing Business Operations: A Case Study on Reducing Operational Inefficiencies through Machine Learning,” Int. J. Multidiscip. Res. Growth Eval., vol. 2, no. 1, pp. 791–799, 2021, 10.54660/.IJMRGE.2021.2.1.791-799.

[48] ADENIYI K. ADELEKE ENOCH OLUWADUNMININU OGUNNOWO, MUSA ADEKUNLE ADEWOYIN, JOYCE EFEKPOGUA FIEMOTONGHA, THOMPSON ODION IGUNMA, “A Conceptual Framework for Dynamic Mechanical Analysis in High-Performance Material Selection.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=Mh- Z4rkAAAAJ&citation_for_view=Mh- Z4rkAAAAJ:Se3iqnhoufwC

[49] ADENIYI K. ADELEKE ENOCH OLUWADUNMININU OGUNNOWO, MUSA ADEKUNLE ADEWOYIN, JOYCE EFEKPOGUA FIEMOTONGHA, THOMPSON ODION IGUNMA, “Advances in Thermofluid Simulation for Heat Transfer Optimization in Compact Mechanical Devices.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=Mh- Z4rkAAAAJ&citation_for_view=Mh- Z4rkAAAAJ:roLk4NBRz8UC

[50] B Austin-Gabriel, NY Hussain, AB Ige, PA Adepoju, OO Amoo, AI Afolabi, “Advancing zero trust architecture with AI and data science for enterprise cybersecurity frameworks.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=nFFJfM0AAAAJ&c itation_for_view=nFFJfM0AAAAJ:WF5omc3n YNoC

[51] E. D. Balogun, K. O. Ogunsola, and A. Samuel, “A Cloud-Based Data Warehousing Framework for Real- Time Business Intelligence and Decision-Making Optimization,” vol. 5, no. 2, 2021.

[52] U. B. Chibunna, O. Hamza, A. Collins, J. P. Onoja, A. Eweja, and A. I. Daraojimba, “Building Digital Literacy and Cybersecurity Awareness to Empower Underrepresented Groups in the Tech Industry,” Int. J. Multidiscip. Res. Growth Eval., vol. 1, no. 1, pp. 125 –138, 2020, 10.54660/.IJMRGE.2020.1.1.125-138.

[53] Christian Chukwuemeka Ike, Adebimpe Bolatito Ige, Sunday Adeola Oladosu, Peter Adeyemo Adepoju, Olukunle Oladipupo Amoo, and Adeoye Idowu Afolabi, “Redefining zero trust architecture in cloud networks: A conceptual shift towards granular, dynamic access control and policy enforcement,” Magna Sci. Adv. Res. Rev., vol. 2, no. 1, pp. 074–086, June 2021,

[54] J. C. Ogeawuchi, A. C. Uzoka, A. A. Abayomi, O. A. Agboola, T. P. Gbenle, and O. O. Ajayi, “Innovations in Data Modeling and Transformation for Scalable Business Intelligence on Modern Cloud Platforms,” vol. 5, no. 5, 2021.

[55] P. Gbenle et al., “A Conceptual Model for Scalable and Fault-Tolerant Cloud- Native Architectures Supporting Critical Real-Time Analytics in Emergency Response Systems”.

[56] A. C. Uzoka, J. C. Ogeawuchi, A. A. Abayomi, O. A. Agboola, and T. P. Gbenle, “Advances in Cloud Security Practices Using IAM, Encryption, and Compliance Automation,” Iconic Res. Eng. J., vol. 5, no. 5, pp. 432–456, Nov. 2021.

[57] Enoch Oluwadunmininu Ogunnowo, Musa Adekunle Adewoyin, Joyce Efekpogua Fiemotongha, Thompson Odion Igunma, Adeniyi K Adeleke, “A Conceptual Model for Simulation-Based Optimization of HVAC Systems Using Heat Flow Analytics.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=6SQ3ZwQAAAAJ& citation_for_view=6SQ3ZwQAAAAJ:Y0pCki6 q_DkC

[58] NY Hussain, B Austin-Gabriel, AB Ige, PA Adepoju, OO Amoo, AI Afolabi, “AI-driven predictive analytics for proactive security and optimization in critical infrastructure systems.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=nFFJfM0AAAAJ&c itation_for_view=nFFJfM0AAAAJ:ufrVoPGSR ksC

[59] M. Oyedele, O. Awoyemi, F. A. Atobatele, and C. A. Okonkwo, “Beyond Grammar: Fostering Intercultural Competence through French Literature and Film in the FLE Classroom,” Iconic Res. Eng. J., vol. 4, no. 11, pp. 416–431, May 2021.

[60] L. S. KOMI, E. C. CHIANUMBA, A. YEBOAH, D. O. FORKUO, and A. Y. MUSTAPHA, “A Conceptual Framework for Telehealth Integration in Conflict Zones and Post-Disaster Public Health Responses,” 2021, [Online]. Available: https://www.researchgate.net/profile/Ernest- Chianumba/publication/391481410_A_Concept ual_Framework_for_Telehealth_Integration_in_ Conflict_Zones_and_Post- Disaster_Public_Health_Responses/links/6819c cb7df0e3f544f5224b1/A-Conceptual- Framework-for-Telehealth-Integration-in- Conflict-Zones-and-Post-Disaster-Public- Health-Responses.pdf

[61] A. C. Mgbame, O. E. Akpe, A. A. Abayomi, E. Ogbuefi, and O. O. Adeyelu, “Barriers and Enablers of BI Tool Implementation in Underserved SME Communities,” Iconic Res. Eng. J., vol. 3, no. 7, pp. 211–226, Jan. 2020.

[62] Ashiata Yetunde Mustapha, Ernest Chinonso Chianumba, Adelaide Yeboah Forkuo, Damilola Osamika, Leesi Saturday Komi, “Systematic Review of Digital Maternal Health Education Interventions in Low -Infrastructure Environments.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=pZekPIgAAAAJ&pa gesize=80&citation_for_view=pZekPIgAAAAJ :JV2RwH3_ST0C

[63] A. Y. Mustapha, E. C. Chianumba, A. Y. Forkuo, D. Osamika, and L. S. Komi, “Systematic Review of Digital Maternal Health Education Interventions in Low-Infrastructure Environments,” Int. J. Multidiscip. Res. Growth Eval., vol. 2, no. 1, pp. 909–918, 2021, 10.54660/.IJMRGE.2021.2.1.909-918.

[64] LEESI SATURDAY KOMI, ERNEST CHINONSO CHIANUMBA, ADELAIDE YEBOAH, DAMILOLA OSAMIKA FORKUO, ASHIATA YETUNDE MUSTAPHA, “Advances in Community-Led Digital Health Strategies for Expanding Access in Rural and Underserved Populations.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=pZekPIgAAAAJ&pa gesize=80&citation_for_view=pZekPIgAAAAJ :HDshCWvjkbEC

[65] P. I. Egbumokei, I. N. Dienagha, W. N. Digitemie, and E. C. Onukwulu, “Advanced pipeline leak detection technologies for enhancing safety and environmental sustainability in energy operations,” Int. J. Sci. Res. Arch., vol. 4, no. 1, pp. 222–228, 2021.

[66] A. A. Abayomi, A. C. Mgbame, O. E. Akpe, E. Ogbuefi, and O. O. Adeyelu, “Advancing Equity Through Technology: Inclusive Design of BI Platforms for Small Businesses,” Iconic Res. Eng. J., vol. 5, no. 4, pp. 235–250, Oct. 2021.

[67] S. Thobani, “Improving e-Commerce sales using machine learning,” PhD Thesis, Massachusetts Institute of Technology, 2018. [Online]. Available: https://dspace.mit.edu/handle/1721.1/118511

[68] E. C. Onukwulu, I. N. Dienagha, W. N. Digitemie, and P. I. Egbumokei, “AI-driven supply chain optimization for enhanced efficiency in the energy sector,” Magna Sci. Adv. Res. Rev., vol. 2, no. 1, pp. 087–108, 2021.

[69] OLUWATOSIN ILORI, COMFORT IYABODE LAWAL, SOLOMON CHRISTOPHER FRIDAY, NGOZI JOAN ISIBOR, EZINNE C CHUKWUMA -EKE, “Blockchain-Based Assurance Systems: Opportunities and Limitations in Modern Audit Engagements.” [Online]. Available: https://scholar.google.com/citations?view_op=v iew_citation&hl=en&user=sJAYP0YAAAAJ& cstart=20&pagesize=80&citation_for_view=sJA YP0YAAAAJ:kNdYIx-mwKoC

[70] A. Valtonen, “Applying machine learning to marketing: Implementation and management of a next best offer recommendation model in the financial industry,” 2020, [Online]. Available: https://jyx.jyu.fi/jyx/Record/jyx_123456789_68 608

[71] O. M. Oluoha, A. Odeshina, O. Reis, F. Okpeke, V. Attipoe, and O. H. Orieno, “Development of a Compliance-Driven Identity Governance Model for Enhancing Enterprise Information Security,” Iconic Res. Eng. J., vol. 4, no. 11, pp. 310–324, May 2021.

[72] H. Al-Aqrabi, Cloud BI: A multi-party authentication framework for securing business intelligence on the cloud. University of Derby (United Kingdom), 2016. [Online]. Available: https://search.proquest.com/openview/6c18f035 570420f29887014defb03af8/1?pq- origsite=gscholar&cbl=2026366&diss=y

[73] S. N. Annam, “Innovation in IT project management for banking systems,” Int. J. Enhanc. Res. Sci. Technol. Eng., vol. 9, pp. 10– 19, 2020.

[74] L. Antova et al., “Datometry Hyper-Q: Bridging the Gap Between Real-Time and Historical Analytics,” in Proceedings of the 2016 International Conference on Management of Data, San Francisco California USA: ACM, June 2016, pp. 1405 –1416. 10.1145/2882903.2903739.

[75] G. Bazzani, “Business intelligence technologies for marketing and sales: customer data management and analysis at welocalize lifesciences”, [Online]. Available: https://thesis.unipd.it/bitstream/20.500.12608/21 646/1/Bazzani_Gianmarco.pdf

[76] L. Blunschi, C. Jossen, D. Kossman, M. Mori, and K. Stockinger, “SODA: Generating SQL for Business Users,” June 30, 2012, arXiv: arXiv:1207.0134. 10.48550/arXiv.1207.0134.

[77] B. Briggs and E. Kassner, Enterprise Cloud Strategy: Enterprise Cloud epUB _1. Microsoft Press, 2016.

[78] L. Bulusu, Open source data warehousing and business intelligence. CRC Press, 2012. [Online]. Available: https://books.google.com/books?hl=en&lr=&id =5uGDNqexnWUC&oi=fnd&pg=PP1&dq=Po wer+BI,+SQL+Automation,+Financial+Close,+ Digital+Optimization,+Multinational+Enterpris es,+Compliance&ots=6y8V3ryemd&sig=tBG_c dyuzpNP4-9S6q9dhSWASDo

[79] Y. Cong, H. Du, and M. A. Vasarhelyi, “Technological disruption in accounting and auditing,” J. Emerg. Technol. Account., vol. 15, no. 2, pp. 1–10, 2018.

[80] A. Deshmukh, Digital accounting: The effects of the internet and ERP on accounting. IGI Global, 2006. [Online]. Available: https://books.google.com/books?hl=en&lr=&id =BabU- HsHcK4C&oi=fnd&pg=PR9&dq=Power+BI,+ SQL+Automation,+Financial+Close,+Digital+ Optimization,+Multinational+Enterprises,+Com pliance&ots=patnIxLrWV&sig=YqdjUWcUE7I fkzuH4TJxPj08fGU

[81] K. Dimeska and S. Savoska, “Model of Information System for Company Management According to Software Engineering Standards ISO/IEC 12207: 2013,” 2017, [Online]. Available: https://eprints.uklo.edu.mk/id/eprint/5453/

[82] R. Dunie, W. R. Schulte, M. Cantara, and M. Kerremans, “Magic Quadrant for intelligent business process management suites,” Gart. Inc, 2015, [Online]. Available: https://b2bsalescafe.wordpress.com/wp- content/uploads/2019/09/gartner-magic- quadrant-for-intelligent-business-process- management-suites-january-2019-1.pdf

[83] C. Goh, G. Pan, P. S. Seow, B. H. Z. LEE, and M. Yong, “Charting the future of accountancy with AI,” 2019, [Online]. Available: https://ink.library.smu.edu.sg/cgi/viewcontent.c gi?article=2833&context=soa_research

[84] V. Iliashenko, “Development of requirements for the BI system for the analysis of key performance indicators of a medical organisation,” 2020, [Online]. Available: https://lutpub.lut.fi/handle/10024/160916

[85] B. Wang, Creativity and data marketing: A practical guide to data innovation. Kogan Page Publishers, 2017.

[86] P. C. Verhoef, E. Kooge, N. Walk, and J. E. Wieringa, Creating value with data analytics in marketing: mastering data science. Routledge, 2021. [Online]. Available: https://www.taylorfrancis.com/books/mono/10. 4324/9781003011163/creating-value-data- analytics-marketing-peter-verhoef-edwin- kooge-natasha-walk-jaap-wieringa

[87] R. U. B. Salgueiro, “The Impact of Microsoft Power Platform in Streamlining End-to-End Business Solutions: Internship Report at Microsoft Portugal, Specialist Team Unit,” Master’s Thesis, Universidade NOVA de Lisboa (Portugal), 2020. [Online]. Available: https://search.proquest.com/openview/d80d48c3 b72ae5140db2174e1d669d86/1?pq- origsite=gscholar&cbl=2026366&diss=y

[88] R. Stackowiak, J. Rayman, and R. Greenwald, Oracle data warehousing & business intelligence Solutions. John Wiley & Sons, 2007.

[89] A. Sipilä, “Analysing production flow of discrete manufacturing systems using simple node-based data,” PhD Thesis, Master thesis]. Tampere University, 2019. [Online]. Available: https://core.ac.uk/download/pdf/250161709.pdf

[90] A. Simon, Modern enterprise business intelligence and data management: a roadmap for IT directors, managers, and architects. Morgan Kaufmann, 2014.

[91] R. Sherman, Business intelligence guidebook: From data integration to analytics. Newnes, 2014. [Online]. Available: https://books.google.com/books?hl=en&lr=&id =zxykAwAAQBAJ&oi=fnd&pg=PP1&dq=Pow er+BI,+SQL+Automation,+Financial+Close,+D igital+Optimization,+Multinational+Enterprises, +Compliance&ots=Nz0Xsfdf7R&sig=wVP1tiP ETlLKg1Fq0-J4eehr3go

[92] D. Scheuringer, “Analysis of the optimization of manufacturing business processes through cloud-based integrated business information systems focusing on Microsoft products,” Diss Univ. Appl. Sci. Tech. Wien, 2018, [Online]. Available: https://www.seres-unit.com/wp- content/uploads/DPA/DTA19_Arbeit_Dominik _Scheuringer.pdf

[93] R. L. Sallam, J. Richardson, J. Hagerty, and B. Hostmann, “Magic quadrant for business intelligence platforms,” Gart. Group Stamford CT, 2011, [Online]. Available: http://in2015.in1.com.br/sites/default/files/magi c_quadrant_for_business__210036.pdf

[94] H. Said and K. El-Rayes, “Automated multi- objective construction logistics optimization system,” Autom. Constr., vol. 43, pp. 110–122, 2014.

[95] A. Rząd, J. Wojnecka, M. Rutkowski, and M. Guliński, “Investigating Purchase-to-Pay process using Process Mining in a multinational corporation,” Bus. Process Intell. Chall. 2019, [Online]. Available: https://icpmconference.org/wp- content/uploads/BPI-Challenge-Submission- 2.pdf

[96] P. Russom, “Data warehouse modernization,” TDWI Best Pr. Rep, 2016, [Online]. Available: http://docs.media.bitpipe.com/io_13x/io_13303 9/item_1388007/Data%20Warehouse%20Mode rnization.pdf

[97] L. Reinkemeyer, Ed., Process Mining in Action: Principles, Use Cases and Outlook. Cham: Springer International Publishing, 2020. 10.1007/978-3-030-40172-6.

[98] N. H. Rasmussen, P. S. Goldy, and P. O. Solli, Financial business intelligence: trends, technology, software selection, and implementation. John Wiley & Sons, 2002. [Online]. Available: https://books.google.com/books?hl=en&lr=&id =CWxl3pHu754C&oi=fnd&pg=PR5&dq=Powe r+BI,+SQL+Automation,+Financial+Close,+Di gital+Optimization,+Multinational+Enterprises, +Compliance&ots=TrfoSEm16T&sig=siXE- rwxj37GNY6nLPv83D6my7Q

[99] S. Mrdalj, “Teaching MBA Business Analytics Courses Using Microsoft Power BI Tools,” Issues Informing Sci. Inf. Technol., vol. 8, pp. 209–217.

[100] R. Mohta, Y. Kasat, and J. J. Yadav, Implementing Microsoft Dynamics 365 for Finance and Operations. Packt Publishing Ltd, 2017.

[101] S. Mohapatra, Business process automation. PHI Learning Pvt. Ltd., 2009. [Online]. Available: https://books.google.com/books?hl=en&lr=&id =qvJdpqUquDAC&oi=fnd&pg=PP1&dq=Powe r+BI,+SQL+Automation,+Financial+Close,+Di gital+Optimization,+Multinational+Enterprises, +Compliance&ots=Dz0ubO2EVX&sig=e- 3bVqltr4qDFO9Zcx27FbSCJP0

[102] M. Godinez, E. Hechler, K. Koenig, S. Lockwood, M. Oberhofer, and M. Schroeck, The art of enterprise information architecture: a systems-based approach for unlocking business insight. Pearson Education, 2010.

How to cite this paper

Nnadozie Odinaka, Chinelo Harriet Okolo, Onyeka Kelvin Chima, Oluwatobi Opeyemi Adeyelu "Accelerating Financial Close Cycles in Multinational Enterprises: A Digital Optimization Model Using Power BI and SQL Automation" Iconic Research And Engineering Journals Volume 4 Issue 11 2021 Page 504-523
Nnadozie Odinaka, Chinelo Harriet Okolo, Onyeka Kelvin Chima, Oluwatobi Opeyemi Adeyelu "Accelerating Financial Close Cycles in Multinational Enterprises: A Digital Optimization Model Using Power BI and SQL Automation" Iconic Research And Engineering Journals, vol. 4, no. 11, May. 2021
Nnadozie Odinaka, Chinelo Harriet Okolo, Onyeka Kelvin Chima, Oluwatobi Opeyemi Adeyelu (2021). Accelerating Financial Close Cycles in Multinational Enterprises: A Digital Optimization Model Using Power BI and SQL Automation. Iconic Research And Engineering Journals, 4(11).
Nnadozie Odinaka, Chinelo Harriet Okolo, Onyeka Kelvin Chima, Oluwatobi Opeyemi Adeyelu "Accelerating Financial Close Cycles in Multinational Enterprises: A Digital Optimization Model Using Power BI and SQL Automation" Iconic Research And Engineering Journals, vol. 4, no. 11, May. 2021.
@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},
  }