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Navigating An Advanced ERP System Upgrade and Year-End Audit

While we focus on helping charities, this case study relates to a UK business with international operations and £50m turnover, showcasing the versatility of our framework approach.

Financial Impact Accelerator Stage: Stage 2.

★★★★★

“The money we have spent has been worth every penny”

Davin Miller – UK General Manager

FinOps Partners Financial Operations

A UK life sciences company with an international footprint faced a challenging year-end audit following a multi-million ERP system upgrade. The transition introduced an unfamiliar system and shifted the chart of accounts which created multiple complexities during the year end audit.

Challenges faced:

Complex year-end audit following a multi-million dollar ERP upgrade.
Lack of familiarity with the new system put pressure on accounting and month end processes.
Extensive team training and support was required.

How we helped

By implementing Stage 2 financial operations solutions and coaching the finance team.

Transformed an administrative finance function into a strategic business asset.
Fine tuned month end processes and built custom management accounts with budgets and forecasts.
Collaborated with ERP specialists to launch game-changing new features.
Financial operations lab worker

Impactful Outcomes

01

Finance Team Strength

Through a series of comprehensive training sessions, we coached the finance team on accounting, processes and controls, and advanced MS Excel.

02

Management Accounts

We built a custom set of management accounts with budgets and forecasts, expenditure tracking, and working capital.

03

Business Collaboration

We trained the finance team to become effective business partners, improving business wide engagement with financial processes.

So, what are their next steps?

Since implementing core Stage 2 solutions, we are continuing to focus on building the finance team’s confidence, business partnering, and strategic financial planning.

Launching new ERP features to bolster finance capabilities.
Building custom dashboards.
Exploring Group wide roll out of financial reporting developments.
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