Use of Technology to Improve

Accounting Efficiency and

Effectiveness

Cary Okawa

October 2012

10/29/12 1

Use of Technology to Improve Accounting Efficiency

and Effectiveness

• Impact: Reduction in Audit Fees by over $200,000

• SAP Workflow

– Journal entry approval and use of file attachments

• OneSource Platform

– Monthly close process and account reconciliations

– Income tax provision

• Treasury Platforms

– Clearwater Analytics

– Bank of America CashPro Online

10/29/12 2

Impact: Reduction in Audit Fees

10/29/12 3

SAP Workflow

10/29/12 4

10/29/12 5

10/29/12 6

OneSource Platform

10/29/12 7

10/29/12 8

10/29/12 9

10/29/12 10

10/29/12 11

10/29/12 12

10/29/12 13

10/29/12 14

10/29/12 15

10/29/12 16

10/29/12 17

10/29/12 18

Treasury Platforms

• Clearwater Analytics

– Monitors and tracks investment portfolio via

electronic interfaces with each financial institution

– Reconciled daily by Clearwater staff

– Risk and compliance reporting

• Bank of America CashPro Online

– Centralized lockbox and disbursements

– Interface with SAP

10/29/12 19

Clearwater Analytics

10/29/12 20

10/29/12 21

10/29/12 22

10/29/12 23

10/29/12 24

10/29/12 25

Bank of America CashPro Online

10/29/12 26