This combination means that operating in this sector involves particularly complex accounting obligations that require precision and a specialized approach.
Client profile
The client is a large foreign corporate group operating in the renewable energy sector. The group consists of 20 companies with a complex ownership structure, which significantly complicates financial and accounting processes. Furthermore, these entities are regularly audited, are subject to mandatory financial statement audits, and report their operating results to regulatory authorities in the U.S. We began working with the client nearly 10 years ago and have gradually expanded our collaboration to include additional companies.
Complex accounting processes within an international corporate group
Before beginning our collaboration, the client handled its accounting through its own shared services center. As the business expanded and the number of transactions grew, the company decided to gradually transfer the accounting services for individual subsidiaries to an external partner—namely, Grant Thornton. This process required both close coordination among the subsidiaries and ensuring the continuity and timeliness of financial reporting.
Proposed and implemented solutions
As part of our collaboration with the client, we have taken over full accounting services for the companies selected by the client, currently processing up to 2,000 documents per month. Given the scale and complexity of the operations, we implemented detailed planning and scheduling of responsibilities within the Grant Thornton team to ensure timely bookkeeping and the preparation of financial reports for each company, even when deadlines fall on non-working days in Poland.
We operate using the Softlab system, which has been customized to the group’s specific needs. Furthermore, to streamline the flow of documents and reports, we have developed standardized packages for sending financial data to each company, which has significantly increased process efficiency and reduced the risk of errors.
Benefits for the client
Our long-standing collaboration with the client has resulted in the establishment of stable, secure, and efficient accounting processes in select companies within the corporate group, enabling the client to focus on the strategic development of its business in the renewable energy sector.
FAQ: Accounting in the photovoltaic industry and corporate groups
What accounting challenges exist in the photovoltaic industry?
What services does accounting outsourcing encompass in a large corporate group?
What are the benefits of accounting outsourcing for a group of companies?
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