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Arco Educação reduces the time it takes to create financial statements by 75%

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Arco Educação is a Brazilian company focused on educational solutions from early childhood education to high school, developing content, technology and services for more than 3 million students and almost 9,000 private schools across the country. With growth of more than 35% a year, the company has been expanding its portfolio and territorial reach. Founded in 2006, Arco's mission is to transform the educational ecosystem, delivering more and more value to schools throughout Brazil. 

The Challenge

Arco Educação, a fast-growing startup, quickly made a name for itself in the domestic market. However, this intense pace brought challenges, especially in the structuring of internal processes, directly impacting the closing of accounts and the issuing of financial statements.

With 16 companies in the group and data distributed across 5 different sources, the financial consolidation process became complex and was managed manually using spreadsheets. This scenario highlighted the need for a solution that would not only optimize data governance but also guarantee the security of sensitive information.

Initially, Arco Educação adopted a smaller tool to improve accounting closing, but the solution proved insufficient to deal with the growing volume and complexity, leading the company to look for a more robust and effective alternative. 

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The Approach

Recognizing the need for a tailored and comprehensive solution, Arco turned to Avvale thanks to our deep expertise in financial consolidation and track record in delivering complex, high-stakes implementations. Together, we embarked on a mission to transform Arco’s financial operations with Oracle Financial Consolidation and Close (FCC).

The main challenge was to unify the various data sources in a single repository. With Avvale's support, Arco created a robust staging area, standardizing the chart of accounts and cleaning up the database.

Based on detailed mapping work, all the financial statements and accounting closing processes were technically and functionally designed, resulting in a customized solution that was fully aligned with the business requirements. 

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The Impact

The transformation achieved with Avvale’s strategic approach has redefined financial operations at Arco Educação, reducing the time taken to create the budget by up to 75%. This efficiency is due to the centralization of consolidation data in the new tool and the possibility of multiple users working simultaneously on the process - something that was impossible with the previous use of spreadsheets.

In addition, a significant time saving is expected in the creation and revision of reports, since the manual process has been automated. Information governance has also been significantly improved, with greater control over work roles and the ability for employees to access the same database without the need for versioning or the risk of losing information, as well as auditing changes.

The solution has also enabled Arco to identify problems in the integration processes between ERPs that previously went unnoticed, increasing the reliability of the information generated. 

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