Pinsent masons

About

Pinsent Masons is a law firm headquartered in the UK with global operations. Its annual revenue is in excess of £320 million and more than 2,500 employees worldwide. Its clients include some of the most significant players in the global energy, infrastructure, financial services, and advanced manufacturing and technology sectors.

Location: UK
Industry: Business Services

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Pinsent Masons Gains 360-Degree View of Finances, Performance With Adaptive Planning

Global Law Firm Cuts 15 Day Monthly Close Process Down to 2 Days

After a merger increased the company size by one-third, global law firm Pinsent Masons quickly needed a management solution that consolidated separate ledgers and systems. In addition, the solution had to include drill-down capabilities, collaboration in multiple languages and currencies, and a multi-dimensional view of the merged firm. Adaptive Planning, part of the Adaptive Suite, accomplished these tasks and transformed the finance team “from scorekeepers to strategic business advisors.” Instead of reflecting on business decisions, the Pinsent Masons finance team now acts upon forecasting initiatives.

Challenges

  • Lengthy process to finalise data for accounting tasks
  • Monthly close took 15 days to complete
  • Difficult to incorporate data from separate databases and other offices around the world

Results

  • Monthly close analysis and reporting accelerated by 750%, going from 15 days down to 2 days
  • Integrated data across separate accounting systems and geographies delivered 360-degree visibility of performance
  • Increased productivity towards new initiatives guide long-term investments in IT, real estate, and personnel

“By working with Adaptive Insights’ UK partner, Clear Plan, and seeing how Adaptive Planning could perform for our law firm, we were completely confident that the software would work for us—and it did!”

ANDREW BRETT, FINANCIAL ACCOUNTING MANAGER