MEMBERS CONTENT: Case Studies
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Featured Case Study
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Integrating disparate financial systems with ERP
Harland Financial Solutions needed to replace the collection of accounting systems owned by their many subsidiaries with one, consistent system that could manage billing renewals and deferred revenue.
| Automating Deferred Revenue to Increase Productivity |
| By centralizing their customer installation data and automating maintenance renewals, billings, and deferred revenue, Taxware is able to spend considerably more time on analysis and planning. |
| Implementing Tighter Controls for Sarbanes-Oxley Compliance |
| Tumbleweed’s financial infrastructure comprised two enterprise systems and more than a dozen spreadsheets. As a result, reconciling financial transactions required a great deal of manual intervention, introducing delays and potential inaccuracies into the reporting process. A new approach to revenue management improved internal controls, visibility, and flexibility. |
| Streamlining financial processes across multiple acquisitions |
| Over the years this municipal solutions provider acquired ten companies and ten different customer databases. As a result, accounting and finance processes became highly fragmented. Capturing 100% of their maintenance renewal and services revenue was nearly impossible. The company selected Softrax to create an enterprise system to consolidate its account information. |
| Automating software and service revenue reporting in one system |
| When this software developer acquired a services company, they needed new tools and accounting systems to help merge and manage the two businesses. A new revenue management system provided an integrated financial infrastructure, productivity improvements throughout the company, and unprecedented control over project profitability. |
| Automating accounting to improve billing, renewals and channel performance |
| Actify implemented a new revenue management system to centralize and automate a complex accounting function involving resellers worldwide. Actify is now able to drive maintenance renewal revenue directly from the finance department, and to provide business analyses for improved product and channel performance. |
| Establishing financial transparency and accuracy for acquisition |
| An integrated and automated system brought sharp improvements in productivity, maintenance renewals, and reseller satisfaction. When the company was acquired, the system played a significant role in the transaction by demonstrating financial continuity, transparency, and accuracy. |
| Replacing a monolithic financials system to improve flexibility and control |
| Replacing an enterprise financials system provided LogicVision with immediate cost savings and rapid return on investment. In addition, key financial data flows were streamlined, resulting in increased productivity, more accurate and timely billing, improved compliance controls, and greater reporting and forecasting capabilities. |
| Upgrading the financial infrastructure to support rapid growth |
| Sustaining rapid growth required that Framework quickly establish efficient processes across the company, including finance. Automating the whole revenue cycle from general ledger to deferred revenue was a key requirement. |
| Establishing enterprise revenue processes to support M&A and compliance |
| Strategic acquisitions and global operations at Vastera demand that financial processes be highly efficient and easily transferred to new entities. A new revenue management system provided a standard financial platform to manage financial transactions and support the underlying processes for Sarbanes-Oxley compliance. |
| Eliminating spreadsheets to support exponential growth |
| Planning for growth at iPhrase meant moving from the financial tools that got them started to a scalable infrastructure that would eliminate spreadsheets for deferred revenue, maintenance renewals, and provide better business insights. |
| Consolidating financial data for improved control and reporting |
| While M&A has been an effective growth strategy for Solucient, the finance department inherited the inefficiencies of three companies, ending up with multiple spreadsheets tracking each of its 30 to 40 products. By consolidating on a single system, it has achieved substantial improvements in its invoicing, accounting, contract administration, and revenue management processes. |
| Managing the whole customer lifecycle from order entry to inventory and billing |
| A single system manages thousands of pieces of inventory; tracks the location of each product throughout its lifecycle; automates all billing and maintenance renewals; and even captures warranty and service events. |
| Enhancing proprietary financial systems to improve renewals and reporting |
| Aperture upgraded their financial infrastructure to manage key maintenance renewal processes, deferred revenue accounting, and reporting for professional services. Today the company’s system handles these critical processes with high degrees of accuracy and integrity, and provides robust financial information for business analyses. |
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