Technology, Media and Telecommunications
The technology, media and telecommunications industry is not only undergoing rapid change itself, it is driving much of the innovation within every industry across the globe. Companies must rapidly evolve to keep up with disruptors, first movers and goliaths alike. Processes, organizational structures, reporting environments and internal systems must mature and change at a breakneck pace to meet the growingly complex needs of consumers and business in order to remain relevant.
Riveron’s experienced teams have been engaged in and provided decades of service to companies within the technology, media and telecommunications sector, bringing insight to effective strategies that solve challenges unique to the industry. Our ability to adapt quickly to unknown environments, swiftly discover and assess client challenges to better understand root cause and then devise and implement practical solutions appropriate to the situation makes us a trusted advisor in this space.
Key technology, media and telecommunications areas we serve include:
- Communications equipment and systems
- Other internet companies
Global Software Company closes to become stand-alone company
A global computer security software company became a stand-alone company in when its parent company sold its controlling interest, forming a new accounting organization. However, the new company lacked policies, procedures, and controls to govern their close processes. As a result, BlackLine’s Account Reconciliation, Tasks Management, and Journal Entry modules were purchased to facilitate the close across 60+ entities and 250+ users.
Riveron was engaged to assist with the implementation. Account Reconciliations and Task Management were the first modules to be implemented and were live and fully adopted by the organization within 3 months. This included a large shared services team in India that required a dedicated, local BlackLine administrator and development and delivery of customized user and administrator trainings.
Subsequently, the Journals module was implemented. Riveron was able to deviate quickly from the initial project plan to meet an accelerated go-live date at the request of the CAO. The Journals pilot was live in just 3 months with full adoption in less than 6 months. As part of the implementation, Riveron assisted with the user acceptance testing of 60+ journal entries.
- Live globally with recs in 3 months
- Team is successfully reconciling over 2,000 accounts per month
- Live with Journals pilot in 3 months
- Over 2,000 JE’s entered per month
- Conducted multiple training sessions with global team, including SSC team in India
- Provided tailored user guides and work instructions
Riveron performs financial due diligence and integration assessment supporting the lifecycle of an acquisition
NexusTek, a Denver based managed IT company, needed help executing against a balanced growth strategy which included organic platform growth and an ambitious acquisition and integration program. To support their rapid growth, Riveron was asked to perform both financial due diligence and an order-to-cash integration assessment in response to NexusTek’s largest acquisition to date. Riveron partnered with both entities to deliver a Quality of Earnings report, as well as recommendations on software selection and process improvement to integrate the acquisition into an improved order-to-cash function.
Riveron implements scalable financial system for carved-out entity
A $200 million payment processing solutions provider was carved-out of its parent entity, a $20 billion international, publicly-traded company. Riveron was initially engaged to prepare historical carve-out financial statements and provide technical accounting and audit support. Our team was then asked to ensure the carved-out entity could successfully operate as a standalone business with a new, high-functioning finance and accounting department. To achieve this goal, we successfully implemented NetSuite, developed scalable business processes and provided visibility into financial performance, KPIs and company direction for all stakeholders.