Transitioning to a cloud-based ERP
Updated: Mar 31, 2020
Think Numbers was engaged to support a large investment bank to transition their #ERP finance system from on-premise to cloud based #MicrosoftDynamics365. The previous system was highly uncustomised and not fit for purpose going forward. The software was out of support and only one partner existed in the country to even support this going forward. Due to the inability to customise the software, processes were highly manual with work arounds to achieve certain their outcomes. The finance team were overworked due to the inefficiencies of the system and number of manual work arounds required. As a result of the users so engrained in the preparation of data and lack of automation, there was no capacity to dedicate to making any significant improvements.
Think Numbers were able to assist in the analysis of system options and to make the most appropriate selection by being software agnostic. They were also able to assess various SI partners and to make the most appropriate choice of implementation partner. They were involved in overseeing the project, the vendor and the best outcomes for the customer by implementing the new ERP system in a reasonable timeframe. The timeframe was able to be reduced due to the project management and financial management expertise that they brought to the table to make this project a success.
The outcomes of implementing the new ERP delivered significant benefits by streamlining many manual processes to do with General Ledger, Banking, AR/AP and intercompany processes. This resulted in a significant reduction in time for the finance team, better accuracy and challenging current processes which were designed to circumvent inefficient system design.
Business was running on an old outdated on-premise ERP that was out of support and resulting in many manual workarounds and processes, consuming the finance team in preparing data for the constant reporting cycles.
Reduction in non-value adding tasks for finance team. Improved granularity of data providing richer insights.
Microsoft Dynamics 365 Finance & Operations