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Driving Financial Transformation in O2C, P2P & R2R

Driving Financial Transformation in O2C, P2P & R2R

Following a series of acquisitions over the years, a leading industrial services provider needed to streamline and standardize its finance operations. SolomonEdwards led a finance transformation initiative focused on order-to-cash (O2C), procure-to-pay (P2P) and record-to-report (R2R) processes. The engagement included taxonomy mapping, ERP workflow optimization, SOP development, and AP and AR stabilization efforts, resulting in improved cash flow, operational consistency and system automation.

Challenge

The client’s finance organization was struggling with fragmented processes, documentation gaps, and manual workarounds across its core O2C, P2P, and R2R processes, a result of prior M&A activity and rapid business growth. The Infor ERP system, intended to unify operations, was underutilized due to misaligned configurations, and it lacked automation in key finance workflows. In record-to-report (R2R), gaps identified included manual journal entries, inconsistent reconciliations, limited system controls, lack of workflow automation, and insufficient training and role documentation due to low staff tenure. In accounts payable, operations were unstable, and vendor payments were delayed. In the accounts receivable function, lagging collections and inefficiencies in cash application were contributing to rising past-due balances. 

Solution

We applied a structured methodology combining operational design, documentation, technology assessment and training. Our work included: 

  • Mapped end-to-end processes: Defined O2C, P2P, and R2R taxonomies through stakeholder workshops, mapping existing documents and workflows into a unified framework. 
  • Closed documentation gaps: Created new SOPs where gaps existed and standardized procedures across functional areas. 
  • Trained and partnered with staff: Worked side-by-side with business users to ensure understanding, adoption and sustainability of new processes. 
  • Optimized ERP configuration: Evaluated Infor ERP for highly manual process steps and collaborated with IT to automate workflows and reduce unnecessary touchpoints. 
  • Stabilized AP and AR operations: Deployed a “Tiger Team” to eliminate AP backlogs, accelerate vendor payments and implement sustainable process improvements. We recovered $3.7M in overdue receivables, applied $1.5M in unapplied cash in a single week, and cleared a $2.5M credit card backlog to improve working capital. 
  • Strengthened R2R practices: Standardized month-end closing procedures and aligned financial reporting with the optimized ERP environment. 

Outcome

The client saw numerous positive outcomes from finance operational improvements that went directly to the bottom line. Among the outcomes: 

  • Recovered or cleared more than $7.7M in AR, including $3.7M in past-due collections and $4M-plus in credit card and unapplied cash cleanup. 
  • Accelerated vendor payments by resolving payment delays and implementing controls to avoid re-accumulation of AP backlog. 
  • Reconfigured and optimized Infor ERP to support automated AP/AR processing and reduce manual work. 
  • Enhanced R2R practices to enable better reporting and faster close cycles; implemented consistent SOPs. 
  • Established a future-ready finance function with a scalable, standardized framework to support further growth and technology enablement. 

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Deployment

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