Case Studies
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Business Process Improvement – Center of Excellence Program Development
Background: In order to manage the large volume of user requests across all corporate administrative functions (e.g. finance, legal, human resources, marketing, etc.), reporting and analysis tools were needed to define user requirements, estimate resource requirements and allocations, estimate level of effort, prioritize concurrent and potentially conflicting activities and analyze the business case to evaluate the return on investment for new projects.
Transition Services – Planning and Implementation
Background: As part of its new services to provide third-party accounting services to its clients, this Germany-based renewable energy company engaged CTS to develop planning and implementation tools to support the on-boarding and transition of their new clients to a standard accounting platform (SAP).
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.
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.
Project Management – Global SOX 404 Compliance
Background: As a result of a spin-off and subsequent IPO, this CTS client needed to demonstrate compliance with SOX 404 requirements. Previously, this company was an operating subsidiary of another larger firm, and did not have in-house expertise. Moreover, little formal documentation existed to substantiate its internal controls in place.
Acquisition Integration – Business and Systems Integration
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.
IPO-Readiness, Financial System Implementation, and Internal Audit
In the midst of unprecedented company growth, this global technology and social networking company’s reporting needs expanded in both complexity and volume. With multi-national operations in over 40 countries worldwide, a standardized and automated reporting tool was mission-critical to produce GAAP-basis consolidated financial statements.
Acquisition Integration
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).
Merger Integration and Process Standardization
Background: With the merger of 3 operating companies located across the U.S., this CTS Impact client needed to design and develop a standard back-office platform — business processes, policies & procedures, and systems, to support its integrated operations. In addition, the back-office was being centralized to a new headquarters location.
Interim Controller and ERP Project Manager – JD Edwards
Background: When the Controller resigned abruptly, CTS Impact stepped in on an interim basis to manage the year-end closing process, as well as to spearhead the financial systems project.
Interim Tax Manager
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.
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)
Co-Sourcing – Accounting Operations – U.S. and Middle East
Background: In order to manage the variability of accounting operations needs, CTS Impact provided Interim staff to perform various financial operations activities:
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