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Solutions Summit 2014 Corporate Rollout Jonathan Haynes, CPA, CGMA and Kelly Darren, CPA.

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Presentation on theme: "Solutions Summit 2014 Corporate Rollout Jonathan Haynes, CPA, CGMA and Kelly Darren, CPA."— Presentation transcript:

1 Solutions Summit 2014 Corporate Rollout Jonathan Haynes, CPA, CGMA and Kelly Darren, CPA

2 Chesapeake System Solutions, Inc. Proprietary and Confidential The Law of Momentum: A project in motion will stay in motion until it meets a resisting force. Eliminate Project Resistance to Keep the Project Moving Forward…..

3 Chesapeake System Solutions, Inc. Proprietary and Confidential State of the As-Is Process Organization’s prior to T-Recs are experiencing: Increased Requirements from Management Performing More with Less Expedited Close Timing Increased Control Risks Significant Manual Processes Lack of Visibility Disparate Systems Extensive Audit Requirements

4 Chesapeake System Solutions, Inc. Proprietary and Confidential New Software Expectations Automation Visibility Control Segregation of Duties Dashboard Reporting Workflow Risk Assessment Dependent Task Tracking

5 Chesapeake System Solutions, Inc. Proprietary and Confidential Project Team Enthusiasm Excitement Around T-Recs: New Tool Easy to Use Significant Process Improvement Automation of Manual Tasks Day to Day tasks Simplified

6 Chesapeake System Solutions, Inc. Proprietary and Confidential Why is the Project Stalled? Organization’s should ask the following questions regarding their project: Why is the Organization only using limited functionality? Why is the application limited to specific accounts? Why is the software only used at certain locations? How did the project get off track? How can an organization create MOMENTUM?

7 Chesapeake System Solutions, Inc. Proprietary and Confidential Reasons for Derailment Reasons the Project Objectives Change: Company Objectives Competing Projects Lack of Resources Resistant to Change Not Broke Why Change It New System Admin Unsure of What Module should be Next

8 Chesapeake System Solutions, Inc. Proprietary and Confidential Creating Momentum The project team should employ the following to create momentum at the start of the project or to re-initiate momentum if the project should stall. Executive Sponsorship Create a Clear Roadmap Employ a Strong Project Manager Initiate a Detailed Project Plan Parallel Functionality Where Applicable Identifying Measures for Success (metrics)

9 Chesapeake System Solutions, Inc. Proprietary and Confidential Maintaining Project Momentum It is not enough to start momentum but to actually maintain the momentum through all of the project life-cycles. Assess and Review the Plan Semi-Annually Keep Up with the Latest Software Releases Review and Implement New Features Perform Health Checks on the Process and/or System Document What is NOT Being Used Review Metrics

10 Chesapeake System Solutions, Inc. Proprietary and Confidential Key Components of a Good Plan A clearly defined plan is key to a successful project: The end goal must be clearly defined Key stakeholders must be identified Milestones should be clearly communicated and documented Should be granular enough to measure, but not so detailed as to lose focus on the bigger picture Realistic timing and scale based on resource availability and goals

11 Chesapeake System Solutions, Inc. Proprietary and Confidential Many projects start with cash as the initial phase, but value is easily realized in other account types: Inventory counts can be reconciled between POS, Physical Count, and the GL Accruals can be reconciled and verified at a detailed level to clearly track the age and validity of the line items Intangibles and Prepaids can be systematically amortized and compared to the GL Intercompany can be matched and reconciled to identify out of balance conditions Driving Value Beyond Cash

12 Chesapeake System Solutions, Inc. Proprietary and Confidential Many projects focus on the SmartMatch and the Reconciliation functionality in the initial phase, but value is easily obtained by leveraging other features: SmartResolve Procedures is a transactional workflow that supports routing exceptions, initiating s or comments, generate journal entries, etc. automating a typical manual process. Process Manager facilitates the tracking of the close checklist, Auditor PBC list, reporting requirements, SOX requirements, one-time projects, etc. Risk Assessment systematically evaluates and reports unusual activity within an account balance or set of transactions and classifies the account based on an organizations rating system. Journal functionality provides robust workflow while eliminating the manual storing and printing of standard and non-standard journals. Other Features to Drive Value

13 Chesapeake System Solutions, Inc. Proprietary and Confidential Management buy in is key to moving a project forward within an organization. With management support, projects can obtain the necessary resources, adoption of the application and overall process acceptance. Management Pitch: No additional software costs required to utilize the additional features as the software is a single solution More features utilized the greater the return on investment Users are already familiar with the software so new feature acceptance would be high Selling it to Management

14 Thank you for your attention Jonathan Haynes, CPA, CGMA Manager, Financial Solutions Kelly Darren, CPA Manager, Financial Solutions


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