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Healthtech company teams up with Solaris to modernize financial reporting and align systems post-acquisition.
Following the acquisition of a SaaS-based healthcare analytics firm, our client, a publicly traded healthtech company, faced challenges integrating the acquired entity’s financial reporting processes which were manual and cash-based. Solaris was brought in to help streamline monthly reporting, align the chart of accounts, and establish internal reporting packages to comply with the parent company’s policies and timelines.
The Challenge: Disparate reporting processes and systems
The acquired company operated without a formal close process and relied heavily on manual spreadsheets which led to inconsistent data, reporting delays, and limited transparency. Additionally, there were significant differences in revenue recognition policies and key account classifications, complicating the integration of financials into the parent’s reporting cycle. The client needed a rapid and clean integration without disrupting ongoing business operations.
The Solution: Building scalable reporting frameworks
Solaris led the development of a month-end close calendar for the acquired entity, introduced standardized reporting templates, and aligned key account mappings with the parent company’s ERP structure. We worked closely with both entities to bridge policy differences in revenue recognition and expense accruals, and established recurring reporting procedures and controls that enabled timely consolidation. Our team also delivered a custom reporting package tailored to the parent’s financial reporting cadence and compliance needs.
"Solaris brought structure to a previously chaotic process and helped us integrate faster than we thought possible.” - CFO, Healthtech Company
The Impact: Seamless consolidation and stronger reporting discipline
Within two months, the acquired company was consistently meeting the parent’s monthly reporting deadlines with greater accuracy and transparency. The new reporting framework allowed for faster integration into the corporate consolidation system and laid the foundation for scalable internal controls. Finance leadership gained confidence in the reporting and freed up resources previously tied up in manual reconciliations.
Solution | M&A Support Services
Solaris supported the post-close financial reporting integration of a newly acquired SaaS company, implementing scalable monthly close procedures, aligning account structures, and enhancing reporting accuracy. Our work enabled on-time consolidation and improved internal control readiness.
