To succeed with financial executives, you need to know more than to debit expense and credit payables when entering an invoice. Over the years, I’ve completed many complex financially-related IT projects. So many, in fact, that I was “invited” to become treasurer of my local Y after helping them straighten out some numbers. (No good deed goes unpunished.)
We believe our success with financial and accounting projects is the result of three things:
- Real-life experience with complex accounting requirements
- Understanding proper internal controls and separation of duties
- Constant attention to the bottom line.
Real-Life Experience With Complex Accounting Requirements
In the course of our work, we’ve handled a whole range of accounting problems. Solving them requires knowledge not just of the ledger, but how to make various ERP subsystems deliver the numbers that companies need to operate.
Some areas we have experience in include:
- Cost accounting
- Project accounting
- Multi-currency accounting—including exchange, revaluation and translation
- Revenue recognition
- Consolidation and elimination
- Nonprofit fund accounting.
Beyond all the technical accounting, we understand that if a company is going to “read from the same hymnal” all numbers need to tie back to the ledger.
Understanding Proper Internal Controls and Separation of Duties
We’re not CPAs nor are we internal auditors. But we’ve helped many customers get through both financial and SOX compliance audits.
We know how to:
- Construct auditable systems
- Explain to auditors the necessary controls in place
- Create development environments to ensure proper testing and make sure that systems run consistently and reliably before going live.
Constant Attention to the Bottom Line
Paying attention to the bottom line doesn’t mean that ROI is simple to calculate—often, it’s not.
But it does mean that we say “no” to clients and projects when we don’t see the benefits.
This may sound like a good way to scuttle a consulting business. But in fact, some of our largest customers today came out of our saying no to certain projects—or by pointing out easy solutions that eliminated our role.