Case Studies
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Business Process Improvement – Accounting Close Cycle
Background: To improve its financial reporting process, this multi-national financial institution wanted to reduce its month-end accounting close process from 10 days to 5 days.
Standardization and Optimization
Background: As a result of several major acquisitions, this CTS Impact client needed to update its Investment Operations processes in order to be scalable to support future business requirements. Concurrently, the client was experiencing a high rate of staffing turnover in various management and staff roles.
Software Evaluation, Design & Implementation-Workday Financials and Workday HCM
With the rapid expansion of this investment management firm into new lines of business including investment banking and insurance, reporting requirements grew in both size and complexity. To address its future reporting needs, the current financial system (Great Plains) needed to be replaced.
System Selection and Implementation – NetSuite
Background: This large multi-national investment management firm’s financial system was no longer being supported by the software vendor, so it was imperative to migrate to a new financial system quickly to mitigate risk. In addition, its financial reporting requirements had evolved significantly, so they needed to improve their accounting processes.
Human Resources System Selection and Implementation – UltiPro
Background: This large multi-national investment management firm had numerous disparate Human Resources software solutions which were not fully integrated, which led to inefficiencies and errors. Moreover, its Payroll system was not tied to the Human Resources system. As a result, the client’s goal was to implement one system to meet all of its payroll and human resources requirements.
SAS 70 & SOC 1 Reporting Readiness
Background: In preparation for its SOC 1 review, this CTS Impact client needed to develop its approach and prepare for its subsequent review.
Interim IT Project Manager – Report Design
Background: In order to automate financial reporting processes until a new long term solution was fully implemented, CTS Impact performed the following: -Created Access database to support management reporting requirements -Developed macros, filters, VLOOKUPS and other spreadsheet management tools -Perform system testing in support of system upgrades -Issue identification and resolution -Developed data warehouse plan (Microsoft Analysis Server)
Interim Senior Financial Analyst – Planning & Forecasting
Background: As a private equity-backed operation, the planning process needed to be enhanced. CTS Impact worked closely with finance, operations, IT and human resources to develop and support these planning activities: -Budget preparation and analysis -Pro forma & sensitivity analysis to support private equity investors information requests -Bank reporting -Cash flows forecasting