Case Studies - Lawson™ Financial Applications
A leading independent financial advisory firm, offering a broad range of consulting and investment banking services was looking to enhance their Financial ERP package to include multi-currency and multi-company capabilities. The firm just expanded its operation by acquiring their corporate valuation consulting division from one of the world's foremost providers of risk and valuation services.
Immediately after the acquisition, the firm had plans to grow their business globally and expand the capabilities of their Lawson Financial ERP. The foundation of the Financial ERP needed to be changed to reflect a global chart of accounts, global locations, international currencies, inter-company transactions along with consolidating and rolling up monthly results into a single company for reporting purposes.
Knowledge Solutions understood the firm's business problem and responded with a proposal to enhance the capabilities of the firm's Lawson Financial ERP System and to re-configure the applications for global processing. We globalized the Lawson ERP structure by expanding the firm's Accounts Payable, Accounts Receivable and General Ledger applications which are integrated with their existing PSA (Professional Services Automation) applications. The expanded structure will enable the firm to add new country locations to the ERP as their business expands internationally. Knowledge Solutions LLC Professional Services Solution team worked closely with the firm's Finance and Technology teams to define the requirements, make changes to the configuration and setup of the ERP, create a new financial reporting structure, develop test plans and implement the new global process. We insured that the firm understood their new roles and responsibilities so they could maintain and support the global structure while providing them documentation for the new capabilities.
Today the firm is successfully doing business in the US, London and the Netherlands and expects to open more international offices in 2006 - 2007. Their Lawson Financial ERP can now include new international companies and their global financial results can be consolidated by running a few simple processes. The benefit is a cost effective and efficient use of their existing ERP Package. All changes were introduced through setup within the ERP. No customizations or modifications where added, therefore, protecting the firms cost of ownership of the ERP and impact on future upgrades. Other areas of value delivered included the automation of key month-end closing programs, the use of Excel addins to automate integration processes and training of personnel so the firm is self sufficient to operate and maintain their systems in the future.