We spoke with Brian Murphy, Partner in the Consumer & Technology Business (CTB) team within Deloitte Ireland’s Audit & Assurance practice, to learn how Silverfin has helped to transform the accounts production process for more than 1000 clients of the firm’s Deloitte Private business.
Can you tell us about Deloitte Ireland?
Deloitte Ireland employs up to 3,000 people providing audit, tax, consulting, and corporate finance services to public and private clients spanning multiple industries. We focus on delivering the solutions and insights they need to address their most complex business challenges.
Businesses of all shapes and sizes are undergoing a significant digital transformation journey. Here in Deloitte we are constantly looking at our ecosystem to identify innovative companies, whether new or established, to help deliver the best solutions to solve our clients’ needs.
What challenges were you looking to address?
Our accounts production process for clients of our Deloitte Private business (privately owned companies) previously relied on a manual process that was time consuming and no longer appropriate for the speed and efficiency we required.
“It was important to identify a solution that would work for multiple teams and that everyone could get behind"
My role is specifically geared around identifying potential solutions, testing them out to ensure that they’ll add genuine value to Deloitte, and then rolling these solutions out as seamlessly as possible across the firm. It was important to identify a solution that would work for multiple teams and that everyone could get behind.
We needed a solution that would enable us to process financial statements more quickly, easily and accurately than ever before. Data is the lifeblood of all professional services firms and we needed to ensure we could access and analyse our clients’ data as easily as possible, in order to provide them with expert insight, help them to unpick what the data is saying and identify how these insights can transform their businesses. We looked for a partner to help us put the technological systems in place so that we can do this quickly, easily and at scale.
We spent several months assessing different tools on the market to find the right fit for our needs – a solution that would make our accounts production process as seamless and accurate as possible for our Deloitte Private clients.
“When we spoke to Silverfin, the team took the time to understand our particular challenges. A key differentiator with Silverfin was the ability to customise the tool according to what we needed”
Why were you so impressed with Silverfin?
When we spoke to Silverfin, the team took the time to understand our particular challenges. A key differentiator with Silverfin was the ability to customise the tool according to what we needed. This was a major selling point for us. It meant that we could have a strong part to play in designing our own platform instead of having to change our internal processes to fit around the tool itself.
“Our partnership with Silverfin has helped us add value to the services we offer our clients”
What impact has Silverfin had on the firm?
Our partnership with Silverfin has helped us add value to the services we offer our clients. With a set, repeatable system and templates in place, our people can focus on adding genuine value, instead of spending time completing the nuts and bolts of accounts production.
We can move quickly forward with confidence, focusing on what truly matters to both our clients and our business.