Implementation of Financial Accounting / Reporting System
Client Business Issues:
An Internet holding company was looking to increase its current holdings from five dot-com ventures to a total of eight within an aggressive four-month timeframe. The holding company was facing considerable challenges in devising an integration and requirements plan to consolidate all of the holdings into a central management system. Arc Partners was hired to devise an approach for interfacing the newly acquired holdings and the current holdings with a centralized accounting system.
Our Approach:
Arc assisted the client by summarizing the overall functional requirements at the holding company and operating companies’ level, including a current state assessment. This ensured that the functional requirements were supported by the selected accounting system. Our team’s experience with these systems helped establish a specification plan for the client to support the interfaces between the operating companies. Arc designed the primary interfacing processes and assisted in their implementation.
Value Received by Client:
Our experience, approach, and analysis provided the holding company with an integrated system that standardized and streamlined the operating companies’ accounting processes, financial reporting, and customer database record keeping. The client also gained a knowledgeable staff through training seminars held by our team.