Executing a Successful ERP Launch
An aerospace engineering consulting company, rapidly expanding through acquisitions, was left with an incomplete ERP implementation – resulting in an inability to create a full set of Financial Statements or meet stakeholder deadlines. In need of rapid assistance, Accordion was engaged to evaluate the current state of the ERP, execute changes where necessary, build and deliver missing Financial Statements, and guide the reporting team to future deadline success.
Financial Statement Prep
- ERP Execution: With an ERP implementation left incomplete and an accounting department incapable of taking control, our team immediately stepped into the role of temporary administrator. We evaluated the set-up and use of dimensions, hierarchies, mapping, and system performance. Gathering data and information where appropriate, we made necessary changes to the system set-up while continuously trouble shooting system issues to deliver a functioning and correctly modified ERP.
- Historical Data Assistance: Prior to our arrival, historical data and validation were never successfully completed. We led a full reload of three years of historical data and completed validation – including evaluation of correct foreign currency revaluation calculations.
- Balance Sheet and Cash Flow Creation: Operating with an incomplete ERP system left the accounting department incapable of creating a Consolidated Balance Sheet and Cash Flow statement for more than 6 months. To fix this, we created multiple reporting templates within the system to adhere to reporting demands and requirements. Our team also successfully created months of back logged reports to get the accounting department up-to-date on reporting requirements.
Accordion provided overall leadership, helping to manage through system implementation. With our support, the Company is now able to use a successfully implemented system, with GAAP compliant Financial Statements, to create more timely and accurate reports.