Mantrac automates 90% of reconciliations and cuts reporting time by 88%

Mantrac Group is one of the largest Caterpillar (CAT®) dealers for heavy machinery, power engines, spare parts, services, and other non-CAT® solutions from brands such as JLG, Palfinger, Heli, Perkins, SEM, and MaK. Operating across 14 territories in Asia, Africa, and the Middle East, the Finance team was dealing with significant complexity. As data volumes grew across entities, branches, and systems, the team needed a more efficient way to manage account reconciliation, financial consolidation, and management reporting from a single, trusted foundation.

Its previous reconciliation solution was costly and rigid. It lacked the flexibility to adapt to changing business needs, offered limited customization, and made it difficult to work with the different file formats required across the organization. Manual intervention was often needed to reconcile bank statements and general ledger data, investigate unmatched transactions, and prepare reports. This slowed the close and reduced visibility into exceptions.

At the same time, reporting and consolidation processes were also under pressure. Finance had to extract and manipulate data from more than 50 spreadsheet-based reports, while processing inputs from dozens of legal entities. Plus, the previous solution lacked robust integration options, making it difficult to ingest data in various formats, like CSV, Excel, or MT940/950, without additional effort or cost.

The team needed a scalable platform that could automate extract, transform, and load (ETL) processes, support entity-level control, and create a reliable single source of truth for planning, budgeting, forecasting, and ad hoc reporting.

Mantrac selected Jedox to replace its inflexible legacy tooling with a more adaptable platform for Finance. Starting with management reporting and data consolidation, the team implemented Jedox to process and combine data from 40 legal entities, automate ETL workflows, and apply entity-specific logic down to the general ledger level.

With verified entity-level data flowing into group financial consolidation, Finance now works from a more reliable and transparent foundation. Jedox gives teams flexible reporting views by territory, legal entity, branch, cost center, product line, and group level.

Building on that foundation, Mantrac also transformed account reconciliation with rules-based automation. Jedox now supports automatic, partial, and suggested matching across bank and general ledger data, with more than 90% of transactions matched automatically. The platform can ingest and transform multiple file formats, including MT940/950, CSV, and Excel, while supporting both balance-level and transaction-level reconciliation.

Ultimately, this transformation delivered a 90% reduction in reconciliation cycle times, enabling a faster period-end close, enhanced visibility into unmatched items, and improved audit readiness. That means Mantrac can move beyond disconnected processes and use a single platform to support reconciliation, consolidation, planning, budgeting, forecasting, and ad-hoc management reporting.

With Jedox, Mantrac reduced time spent on repetitive ETL and data integration tasks by more than 75%, cutting processing time from eight hours to less than two. “I can confirm that Jedox is more than just a user-friendly tool. Our team can easily build or modify the database, as well as run ETL processes through our website,” shares Mr. Ashraf Hamada, Head of Group Financial Controlling & Decision Support.

Ad-hoc reporting is also significantly faster, with filtering-based report generation improved by 88%. During close periods, revisions that once took days can now be completed in hours or even minutes. In the words of Mr. Hamada: “We often face urgent revisions during closing months, as the updates must be shared with senior management as soon as possible. This would usually take days but can now be completed in hours or even minutes.”

The new reconciliation process has also delivered major gains. Mantrac achieved more than 90% automated transaction matching and reduced reconciliation cycle times by 90%, helping Finance close faster with greater accuracy and less manual effort. Unmatched items are flagged sooner, audit readiness has improved, and teams spend less time chasing exceptions and more time focusing on analysis and business support.

The shift from a rigid, high-cost system to a flexible and scalable platform has not only improved efficiency but also reduced operational costs and IT dependency. Mantrac can now run reconciliations daily, weekly, or monthly based on business needs—without limitations or added cost for data integrations.

Jedox transformed our reporting and planning landscape at Mantrac by enabling accurate financial reporting and consistent operational reporting from one integrated platform. Its flexible ETL Functionality strengthened both our reporting model and our structured budgeting framework. These combined capabilities ultimately enabled a far more efficient Balance Sheet reconciliation process, where automated financial and operational balances are accessible in a single view—turning a long standing dream into reality for our teams.

– Mr. Mohamed Ahmed Fayek, Group Controlling Manager – XP&A

Most importantly, Jedox gives Mantrac a single source of truth across reconciliation, consolidation, reporting, and planning. Account reconciliation helps ensure the integrity of entity-level data. Group financial consolidation turns that verified data into reliable group-level statements. And with that trusted data foundation in place, Mantrac can support better planning, budgeting, forecasting, and management reporting across the business.

Going forward, the team is testing a new Jedox module for AIsissted™ planning. “Based on personal experience to date, Jedox is much better than any system I’ve worked with before. I would recommend the solution to any financial user, whether a peer or colleague,” says Mr. Hamada. “The solution is adaptable enough to assist any user in their daily work.”