Executive Management asked Elliott Davis to help answer: “How can we combine separate financial database instances after a recent acquisition?”
IT Consulting Firm had recently acquired a company and needed to combine separate accounting and finance files with cohesive lists, preferences and processes. The desired accounting system should provide improved efficiencies across people, process, and technology.
Phase 1: Process Analysis Assessment
- Analyzed daily tasks and identified pain points
- On-site interviews to document current use and functions, including chart of accounts, month end reporting, workflows, detailed service line and/or location reporting and 3rd party application use
- Identified best practices for process improvement
- Proposed technology stack
- Restructured workflow
- Implemented standard naming convention across chart of accounts, vendors, customers, inventory
Phase 2: Implementation
- Set up new enterprise file using updated/restructured lists
- Reconciled information between current and legacy files
- Assisted in implementation and migration of third-party apps
- Relocated legacy files in centralized location
- Merged separate systems into one cohesive system
- Gained optimal performance of accounting processes
- Implemented new best practices identified
- Expedited user adoption with reduction in known painful task areas
- Avoided maintenance of legacy technology infrastructure
- Improved reporting and analysis
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The information provided in this communication is of a general nature and should not be considered professional advice. You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change.