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Financial Systems Strategy

($500MM Parking Operations Management & Valet Services Company)
  • The company was experiencing rapid growth that had left its financial processes and technology straining to keep up.
  • The billing and accounting process was complex, manual, spreadsheet-based and relied heavily on “tribal knowledge.” As a result, the financial systems and methods lacked scalability.
  • Company’s leadership recognized the need to:
    • Define a financial systems strategy.
    • Select a new platform to support the finance, accounting and information access needs of the future.
  • Interviewed business stakeholders and assessed the IT environment and capabilities.
  • Defined business requirements.
  • Created a vendor shortlist and managed the RFP process.
  • Estimated resource requirements & Total Cost of Ownership.
  • Developed a three-year financial systems plan.


The new strategy’s objectives were aimed at:

  • Improving accuracy and efficiency.
  • Enhancing analytical capabilities.
  • Enabling automated interfaces with other company systems.
  • Implementing a scalable solution.
  • Reducing manual processes.
  • Having the capability of generating timely and actionable insights to run the business.

Managing cash during uncertain times is critical. This free Ebook provides insights for you to consider.

ECM Consulting Group | United States

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