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Driving Transformation in Financial Operations for an Industrial Services Provider

Driving Transformation in Financial Operations for an Industrial Services Provider

A leading industrial machinery and equipment distributor with a national footprint partnered with us to improve financial operations, streamline key processes and enhance internal controls. Our team addressed the client’s complex operational needs—delivering sustainable improvements to core finance functions and positioning the organization for continued scalability and compliance.

Challenge

Undergoing internal leadership-driven transformation, our client, a distributor and service provider specializing in the energy and industrial sectors, faced urgent and overlapping challenges within their financial operations. From the need to improve cash collections to reconciling intricate bank accounts and documenting critical financial processes, the company struggled with inconsistent execution, outdated workflows and operational inefficiencies. They required rapid support to address a range of pressing issues, including: 

  • Accelerating accounts receivable collections 
  • Reconstructing bank reconciliations with missing data 
  • Preparing for external audits and remediating segregation of duties (SoD) issues 
  • Documenting enterprise-wide finance procedures to meet board expectations 
  • Resolving data integrity issues that were disrupting vendor payments 

Solution

We deployed a flexible engagement approach combining staff augmentation, managed solutions and project-based expertise. The following are among the key activities we performed:  

  • Launched a modified cash acceleration initiative, grounded in our proven Dash-for-Cash methodology, to identify the root causes of delayed collections 
  • Reconstructed 10 months of complex bank reconciliations and aligned them to current activity 
  • Supported sales tax audit readiness through targeted transaction documentation 
  • Led a comprehensive “procedures, framework and consolidation” project to define and document best-in-class processes for order-to-cash (OTC) and record-to-report (R2R) cycles 
  • Mapped data flows and resolved critical issues in AP systems that were halting vendor payments  
  • Executed a successful customer bank transition project, ensuring updated remittance routing for hundreds of accounts 

Outcome

We delivered clear, structured process documentation and operational enhancements that continue to guide the client’s financial transformation. The procedures framework and consolidation effort was key to helping the client clarify roles, improve accountability and reduce manual intervention. Additionally, tactical support with the bank transition and audit documentation helped reduce business risk and minimize operational disruptions.  

Pleased with the quality of our consulting services and our focus on client service, the company engaged us to continue working with them on various initiatives.  

 

Industry

Deployment

Services

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