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Management consulting company partners with Solaris to strengthen revenue operations, ensuring seamless financial oversight during ERP transition.
The company engaged Solaris to provide senior-level expertise within its revenue function during a critical period of transition. As key finance and accounting personnel were reassigned to lead an upcoming ERP implementation, the revenue function faced a gap in technical expertise and leadership. They required a strategic approach to assessing the quality of its accounts receivable (A/R) portfolio, ensuring sufficient reserves, and addressing broader technical accounting needs.
The Challenge: Revenue compliance during staffing crunch
With its key finance team members redirected to the ERP implementation, the company needed an efficient and scalable approach to analyzing its A/R portfolio and reserves over multiple years. The company also required specialized technical accounting expertise to support its revenue function, ensuring compliance with accounting standards and effective communication with senior leadership and external auditors.
The Solution: Automation Tools and Detailed Memoranda
Recognizing the need for an efficient way to analyze the company’s accounts receivable portfolio, Solaris developed an Excel model capable of processing several years of transactional data. This model provided meaningful insights by identifying key drivers impacting reserves and portfolio quality. To further optimize the process and minimize the risk of manual errors, Solaris leveraged the company to automate data extraction and analysis. Beyond process automation, Solaris played a pivotal role in strengthening the technical capabilities of the revenue function. The team took the lead in preparing comprehensive technical memoranda to support key accounting positions. These memoranda were instrumental in facilitating discussions with both senior leadership and external auditors, ensuring a clear and well-documented analysis of critical revenue-related issues.
"Solaris was able to onboard quickly in a large, complex environment, using their experience to effectively prioritize and delegate within the ERP team.” - Ankit, US Controller, Maagement Consulting
The Impact: Improved financial reporting accuracy and efficiency
Through process automation and structured technical support, Solaris helped the company significantly enhance the efficiency of its revenue function. The automated A/R analysis reduced manual workload and improved accuracy, allowing for real-time insights into the company’s receivables and reserves. Additionally, Solaris’ technical expertise strengthened the finance team’s ability to navigate complex accounting topics, improving financial reporting and communication with external auditors.
ERP & Systems Implementation Support Services
Solaris automated accounts receivable analysis with an Excel model and Alteryx, reducing manual errors and enhancing insights. Our technical memos strengthened revenue accounting, supporting leadership and audit discussions.
