A corporate performance management (CPM) software company headquartered in the U.S. prides itself on helping businesses conquer complexity in their finance departments. Its solutions streamline CPM processes and enable deeper financial and operational insights that support faster and more informed decision-making. As a high-growth, privately held entity with plans to continue expanding internationally, the software provider was ready to reassess its infrastructure's ability to keep up with a growing number of clients and employees.
The company specifically sought to improve its human resources and payroll processes and establish standardized processing and formalization of controls for its revenue cycle. The focus was to implement a highly automated control infrastructure in its back offices for better day-to-day business efficiency.
Other issues included lack of collaboration across business units and visibility into processes for executive staff, inefficient manual processes for workflow approvals, fragmented control activities, and inadequate documentation and reporting methods.
The software company turned to Armanino to build a high-level plan to remove the roadblocks to its international growth and help lay a foundation to scale for the future.
Armanino met with more than 20 stakeholders across multiple business units in the United States and Europe to create a strategy that addressed how the business could mitigate risk, increase operational efficiency and aim at long-term growth and scalability. The future-state plan included an assessment of the company’s lead-to-cash and hire-pay-terminate processes, with a specific look at:
To address top risks, challenges and inefficiencies, Armanino recommended the following key improvements for the company’s lead-to-cash process:
The hire-pay-terminate process improvement recommendations included:
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