Conglomerate Firm Involved in Buying, Selling, and Trading of Bulk Commodities
The major task at hand for this global firm was moving to a single accounting package in each of its four regions (Europe, Asia, North America and South America). Adding to the difficulty, each region had many different accounting packages. Consolidating results was near impossible and the close process was very lengthy. Too many resources were needed to support all these different systems creating inefficiencies.
Large Venture Capital Firm
The firm needed to reduce the number of current software applications environments of their existing accounting and financial reporting systems. Integration into business essential systems was on the company’s wish list. They wanted to rid of the painful process that was reconciling data between their many systems.
Leading Financial Services Company
Faced with bankruptcy filing, reorganization required the company to sell off some assets. More than 700 entities needed to be consolidated into a common system. A correctly-sized accounting platform for those newly formed entities was also needed. The firm needed to provide an annual return on investment and reduce cost of ownership.
Leading International Insurance Organization
Compliance to government reporting standards was required for this firm. Additionally, the organization needed to become more transparent to shareholders and board members. After sinking over $23 million in SAP over the last three years, a new platform was needed. As expected, the company required the new platform reduce the cost of ownership. A better-sized, nimble solution capable of rapid deployment was sought.
Top Asset Management Company
The company sought a largely capable solution to overcome a multitude of business challenges. The new system would need to be able to support high volume integrations from several existing systems. The new system would also need to be able to manage multi-currency multiple level consolidations and provide different consolidation views required for reporting. Other requirements included multiple accounting bases and multi-level workflow required to approve all transactions. Lastly, workflow for approval of new legal entities and accounts was needed from the new software solution.