Background: In tandem with its accounting migration into a shared services center, this CTS Impact client needed to upgrade its JD Edwards Enterprise One software system.

CTS Impact Solution: With significant real estate accounting operations and JD Edwards system implementation and user experience, the CTS Impact staff performed the following:

• Business process analysis
• Workflow design and documentation
• Testing
  • Develop methodology
  • Script development
  • System and user testing
• Develop user-training  program and manual
• Trouble-shooting and support during go-live

Background: In order to manage its customer relationships from inception through deal close, this CTS Impact client selected an automated CRM tool, SAGE SalesLogix to manage its data.  However, the client’s Project Management Office (PMO) was resource-constrained, and lacked specific real estate industry expertise critical to the implementation of this tool.

CTS Impact Solution:

• Project management — Real Estate industry experience
  • Develop and maintain project plan
  • Status reporting
  • Issue escalation and communication
• Business process design
  • Business requirements analysis
  • Workflow analysis
  • Documentation of business processes
• System design
  • Conduct conference room pilot
  • System configuration
  • Coordinate data cleansing
  • UAT testing
• Implementation
  • Coordinate staged roll-out to users
  • User-training and documentation

Background:  In the wake of several financial reporting errors and inconsistencies, this CTS Impact client needed to investigate the root cause of these issues on a confidential basis.  Once identified, new standard operating procedures were needed to enhance the internal controls to prevent re-occurrence.

CTS Impact Solution: With significant real estate accounting operations and JD Edwards system implementation and user experience, the CTS Impact staff performed the following:

• Data extraction and analysis
• Targeted data-mining and queries of multiple conditions and scenarios
• Analyze content for potential conflicts and/or other inappropriate activities
• Publish final report
• Document standard operating procedures

Background: As a result of deteriorating financial returns from one of its joint venture investments, this CTS Impact client needed to scrutinize the operations of its partner at a more detailed level.
Once management control was exercised over the joint venture, all accounting operations needed to be migrated to the home office shared services platform, along with other asset management activities.

CTS Impact Solution: To analyze the complexities of this venture, CTS Impact provided forensic accounting expertise with deep real estate industry experience to investigate and report on the following:

• Transaction mapping and analysis
• Funds flow analysis
• Review of significant contracts and agreements
• Loan review
• Reconstruction of financial statements
• Pro forma analysis

Once litigation was initiated, CTS Impact assisted with the identification of potential issues, along with preparing analysis and support for various litigation strategies deployed by the client.

To further diversify its vast real estate portfolio, this CTS Impact client expanded into a new segment; hotels, via acquisition of 3 major portfolios within an 8-month period.  With acquired hotel assets of over $2.5 billion, this client needed specific hotel accounting experience to manage this back office integration and standardization.
As Project Manager, CTS Impact provided hands-on hotel and hospitality industry expertise to manage the acquisition integration onto its corporate platform.  In addition to leveraging economies of scale, CTS Impact led the efforts to develop new business processes, along with new reporting tools and standard operating procedures.  Deploying CTS Impact staff with hands-on financial systems experience, the legacy Timberline financial system was seamlessly converted to JD Edwards.
Throughout the transition, until the client was able to hire on permanent staff, CTS Impact provided interim accounting and financial reporting staff to support these new operations.

Other CTS Impact Solutions:

• Financial Reporting and Systems
  • Purchase accounting and reconciliation
  • SEC reporting
  • Design new reporting tools
  • Implement Content Management System (iManage)
• Tax Compliance
  • Sales & use tax dispute investigation and resolution
  • Interim staffing-Federal, state & local income tax assistance
• Asset Management and Joint Ventures
  • Develop standard processes to monitor investments
  • Partner and lender reporting
  • Litigation support
• Internal Audit – SOS 404 Compliance
  • Risk assessment
  • Develop standard tools/templates
  • Document key controls
  • Perform testing
  • Remediation planning
  • Status reporting and Audit Committee updates

Background: Due to the sudden departure of the head of its Tax department, CTS Impact provided an Interim Tax Manager with a blend of tax compliance and GAAP-basis reporting experience to assist with the following:

• Compliance — Federal, State, County and City
  • Created a compliance database to monitor all tax-related deadlines
  • Sales & use, business and other miscellaneous tax compliance
• Year-end tax provision and payments
  • Prepare FAS 109 tax accrual and prepare tax payments
  • Coordinate preparation and issuance of 1099’s
• Tax audits and notices
  • Develop a comprehensive system for tracking the status of all tax notices and audits
  • Dispute investigation and resolution, resulting in > $1 million in hard-dollar savings

Background: In order to manage the variability of accounting operations needs, CTS Impact provided Interim staff to perform various financial operations activities:

• Property accounting
• Development accounting

As part of serving in these functions on a daily basis, CTS Impact also performed special projects

• Financial systems (Yardi) — optimization of system functionality of existing modules
• Financial processes and controls to support expansion into Middle East (Abu Dhabi)
  • Develop accounting policies
  • Document standard operating procedures