A leading, geographically diversified industrial and engineering solutions company
Following many acquisitions, our client’s operational synergies had not been realized. A plan was required to consolidate and improve finance and accounting departments in order to establish scale and efficiency within their organization.
We used a multi-disciplined team to streamline and standardize procedures and built output-based reporting to monitor desk performance, discover redundant tasks, and analyze functional-level responsibilities, leading to 12% cost improvement and $16.5MM in savings on an annualized basis.
Read on for more information on how we successfully delivered a positive outcome for our client.
Our client had not yet optimized their operations, which led to our client’s operational synergies not being realized. This was due to the number of mergers and acquisitions that our client had been involved in.
It was vital for them to design a strategy for the consolidation and enhancement of the financial and accounting departments to attain both scale and efficiency.
As a result of utilizing a multi-disciplined team to streamline and standardize procedures, as well as building output-based reporting to monitor desk performance, discover redundant tasks, and analyze functional-level responsibilities, we were able to improve costs by 12 percent and save an annualized total of 16.5 million dollars.
This was accomplished throughout all of our client’s accounting activities, including Cost Accounting, Corporate Accounting, Accounts Payable, Accounts Receivable, and Invoicing, over a period of three months time.
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