Case Study

Financial Planning for Insights for a $80M Software-As-A-Service

"SLKone assisted the development of a granular, compliant revenue recognition model that resolved material issues in the accounting function, while simultaneously unlocking business intelligence reporting opportunities"

Situation

  • The client was an $80M Software-as-a-Service (SAAS) company
  • Senior management was undergoing an intense period of change in personnel during a critical transition
  • The board was unable to make strategic decisions due to reporting delays
  • Reporting by business units had limited visibility of cost detail and revenue streams
  • Required improvements in reporting which would facilitate efficiency improvements in the organization

Bespoke Solutions

  • SLKone took over existing reporting assignments for internal and equity sponsor stakeholders to ensure prompt delivery of reports
  • Developed a dashboard with clear initiatives and metrics showing progress on a monthly basis. Automated the reporting of financial statements
  • Developed a higher level of visibility into cost detail by implementing an improved Transaction Coding System (TCS)
  • A feedback loop was created to provide better reporting of activities across departments; integrated ownership and feedback about status and hurdles

Leading With Results

  • Increased the level of business insights, cost saving opportunities, and understanding of profitability drivers
  • Identified $200k in monthly direct expenses incorrectly reported leading to additional reporting inconsistencies related to payroll and benefit allocations
  • Improved profitability decision making enabled by the developed TCS increasing accountability at the business unit level
  • Reduced cycle time by 10 days to generate financial reports, including accounting close
Case studies and expertise may represent projects and engagements performed by SLKone team members prior to their employment at SLKone
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