Service(s) Provided:
CFO Advisory and System Integration
Situation:
Vector was engaged to help a client move from casual shopping for new CRM and ERP applications to evaluating and selecting the application(s). The client had grown thru a series of acquisitions, each of which had separate processes and applications for estimating and quoting jobs, capturing job costs, and billing and collecting cash. Intercompany sales and delivery, a growth engine strategy, was managed on a series of excel spreadsheets to capture and account for costs, revenue, and cash. A long month-end close and consolidation cycle limited the visibility of corporate finance and the Private Equity firm to evaluate business performance and make course corrections.
Approach:
We began by analyzing the client’s QuickBooks system and financial operations, identifying pain points and defining data needs. Our team then helped implement and optimized the Intacct configuration as well as manage a smooth data migration. We automated the reporting processes, improved compensation tracking, optimized AP processes, and streamlined allocations.
Results:
Vector Advisory successfully streamlined the client’s financial operations by transitioning from QuickBooks to Intacct, ensuring minimal disruption during data migration. We helped optimize the reporting processes, automate internal and lender reports, and refine compensation tracking and AP workflows. Key improvements included the creation of a new chart of accounts and financial dimensions. Ongoing support empowered the client to enhance operational efficiency, reduce manual tasks, and make more strategic, data-driven decisions.