A Private Equity firm collapsed 13 global companies into 5 business units, each operating with separate enterprise applications.
During the acquisition process, there was no focus on enterprise application consolidation. Due to this, Finance was left to reconcile 5 ERPs and various spreadsheets on a monthly basis to close the books and generate financial statements.
This manual reconciliation process meant that Leadership waited up to two weeks after month-end to see the health of the business and up to a month at quarter and year end. Without real-time, consolidated reporting, Leadership was unable to…
With five separately operating ERP systems, the client decided to consolidate into a single system. After a thorough vendor selection process, the team decided to implement NetSuite. The project started. And restarted. After 2 years and $1.9M, no significant business deliverables were realized and the 5 ERP systems were still in use.
Leadership decided that a new approach was needed to move the project forward. So, the decision was made to break the NetSuite implementation into two phases: North America and APAC/EMEA. The goal of creating phases lasting no more than 4 months was to increase the chances of success, improve adoption and ensure focus for the project team. With this new plan, business requirements for each phase were clearly documented and approved by Finance – the primary stakeholder –, and the project started for a 3rd time.
The team completed a 4-month phase 1 APAC/EMEA deployment, followed by a 4-month phase 2 North America deployment at a cost of $548,000 (71% less than the previous attempts combined). With the successful completion of the program, the client was able to eliminate 4 ERP contracts (one business unit was using NetSuite prior to the program) and operate their global financials for $405,000 – a 55% cost reduction.
In addition to operating cost reductions, the client realized the following immediate improvements:
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