Background: This publicly-held international pharmaceutical company was experiencing very rapid growth through multiple significant acquisitions. Each acquisition maintained their accounting records on different financial system platforms, so the client needed to migrate these disparate systems to a standard platform (SAP).
Also, prior to the roll-out of a new financial reporting tool (Adaptive Insights), the CTS Impact team maintained a parallel tool to perform the consolidation process, as well as the report validation process throughout the system implementation.

CTS Impact Solution:

CTS Impact needed to provide significant hands-on experience to assist this client in several ways simultaneously:

  • Acquisition integration (3 major acquisitions within 1 year)
    • Account mapping to new chart of accounts
    • Reconciliation and analysis
    • System conversion from Great Plains Dynamics to SAP
      • Assist with process design
      • Testing
    • Document standard operating procedures (SOPs)
  • Interim accounting activities
    • Backfill support for various accounting and financial reporting roles while client conducted hiring process for permanent hires
      • Monthly/quarterly/year-end close activities
      • Consolidations
      • Inventory accounting
    • Cross-training and transition to new permanent staff

Consistent with CTS Impact hands-on approach, while performing these roles, CTS Impact implemented process improvements to streamline the month-end close process.  In addition, CTS Impact documented standard operating procedures (at the desktop level) to provide cross-training for new hires.