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Financial Transformation by Implementing an ERP System
Client Overview
A midsized construction company.
Deployed Capabilities
Supply Chain
Financial Advisory
Transformation
150% Sales Growth
The restructured processes and ERP implementation resulted in 150% sales growth in the first year.
75% Time Reduction
The financial close process time was reduced to a single week post-transformation.
Efficiency Gains
The impact of organizational and process restructuring on financial operations included widespread efficiency gains.
The
Challenge
Our client was confronting stagnation in growth, struggling to attract new customers and secure additional projects due to an inefficient quoting process and inconsistencies in financial reporting. The CEO’s initial solution was to implement an Enterprise Resource Planning (ERP) system with the hopes of enhancing process efficiency and gaining better control over financial data.
The
Custom
Solution
Upon a three-week analysis, it became evident that the issues were more profound than initially anticipated, leading to a decision for a full-scale transformation project that included ERP implementation. The solution was comprehensive, involving:
- A redefinition of the company’s core processes to align with strategic goals.
- An organizational restructuring to support the new process model.
- The establishment of a Supply Chain department responsible for managing 80% of the company’s costs.
- The dismantling of organizational silos by leveraging the integrative capabilities of ERP.
- The implementation of SAP to streamline all core company processes.
- The achievement of real-time, fully transparent financial information across all company functions.
- This approach facilitated a seamless and integrated business model, encompassing automatic accounting for all operational transactions, procurement, contract management, and the quoting process.
The
Impactful
Results
The restructured processes and ERP implementation resulted in a staggering 150% sales growth in the first year, far surpassing the initial 20% annual growth goal. Post-transformation, the financial closing time was cut by 75%, from four weeks to just one week, illustrating the profound impact of organizational and process restructuring on improving the efficiency of financial operations.
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