Transforming mass data into relevant, actionable information

Although we were initially hired to implement a financial reporting in Power BI for the management team, we quickly uncovered major issues within the accounting processes and significant inconsistencies in the recently implemented accounting systems.

The initial scope shifted toward resolving core accounting issues inside the finance and accounting function. Despite several obstacles, we were requested to stabilize the accounting function by re-engineering outdated processes and replacing them with best-practice workflows. Improvements included streamlining time-consuming tasks and maximizing the capabilities of their existing software.

We were also asked to support the audit process and complete the annual report.

In parallel, we progressed on the main projects: defining a Purchase Order process and creating a complete management reporting package in Power BI. This also required producing the first budget directly within their accounting system.

As part of the Financial & Accounting team stabilization we first created adequate financial reporting to fulfill the needs of the management and the board members

Thereafter, we re-engineered many of their old processes to best practice processes. These improvements range from streamlining time-consuming tasks to more fully use their software capabilities

Next, we took over the follow-up of the audit 2019 as some of the main deliverables were still unresolved

Moreover, we have reorganized the accounting team by incorporating some of our consultants and so, reinforce the accounting know how during the stabilization stage

As part of the Purchase order implementation we provided a detail business case and templates to facilitate the design by the digital team

In relation to the BI Reporting creation, we were to set a strong data model based on the different software used by our client and then design the main report used by the management for controlling purposes.

Firstly, we have ensured proper finalization of the 2019 and 2020 audits considering that a new accounting package was poorly implemented before our arrival

Next, we have provided the management team with an Excel formatted Financial reporting to allow adequate business activity follow-up. This, in waiting for Power BI reporting development to be completed

In the meantime, we were also able to set the data structure needed for our Power BI reporting and, have produced some of the requested management reports

Additionally, we have reworked their management accounting object structure to allow proper segmentation of their business model

In terms of the Purchase order process, we are half-way in finalizing implementation knowing that will automate accruals entries but more importantly will ensure proper control within their purchase process flow.