Enterprise Resource Planning
As companies grow they often realize their current ERP cannot scale with them, is outdated, or the platform consists of multiple, disparate systems. These situations create reporting issues, burdensome manual processes and a lack of visibility into company performance and the supply chain. By understanding your business first- industry, people, processes and technology- Riveron develops a comprehensive ERP solution that achieves the goals of our evolving clients and streamlines operations.
Issues we solve
Lack of visibility into company's performance
Removal of disparate systems and siloed data
Inefficiencies in the supply chain
Minimal automation & lack of scalability
Inefficient implementation and inadequate user adoption
The Riveron Approach
An ERP project can be a daunting task – whether selecting a system, implementing a new platform, integrating with other applications, or optimizing the current environment. Riveron’s proven ERP approach develops a project structure flexible enough to meet our customer’s requirements, yet thorough enough to mitigate any undue risks.
Our approach allows us to recommend tailored industry solutions for each client’s specific situation. Whether your company needs to determine the best fit solution, implement a chosen technology or optimize the current platform, Riveron can help. By partnering with best-of-breed ERP technology we are able to broaden our ability to serve and deliver client-focused solutions to address the most complex challenges.
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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.
Dental Chain looks for scalable business processes for future growth
A PE-backed dental chain, with offices across two states, was looking for scalable business processes to facilitate future growth.
The Riveron Approach:
- Developed end-state for Procure-to-Pay, Order-to-Cash (handled by new PMS implementation), and Record-to-Report detailing new processes, roles and headcounts of people involved, and technologies utilized.
- Partnered with third-party PMS company to assist in implementation of a cloud-based PMS to be shared and utilized by all practices.
- Led ERP select process based on future-state business requirements and selected NetSuite ERP.
- Converted cash basis accounting to accrual, created opening balance sheet and purchase price accounting, and reconciled deferred revenue schedules.
- Prioritized opportunities and developed an execution plan focusing on closing the year in the new ERP. From there, developed phased approach to ultimately reach end-state processes.
- Implemented best-practice, standardizing accounting and finance processes across the organization.
- Implemented NetSuite automating and streamlining finance and accounting operations for scalable growth.
- Developed AP workflows to allow purchases to originate at local offices routing to corporate for appropriate approval
- Reduced deferred revenue recording from 8 days to 1 by leveraging NetSuite’s Revenue Module and developing schedules based on various orthodontia procedures
- Integrated third-party patient management system to NetSuite ensuring timely AR reporting and accelerating close
- Enhanced financial reporting to provide visibility into practice performance and spend without heavy use of Excel or manual manipulation
PE-backed 3rd party ticket re-seller looking to drive back-office improvement and build scalable business processes
A PE-backed, 3rd party ticket re-seller was looking to drive back-office improvement and build scalable business processes. The organization used QuickBooks and over 30 spreadsheets to manage the end of end business process, with limited reporting capabilities. The high transaction volume was limiting growth without hiring additional personnel and there was a lack of internal controls.
The Riveron Approach:
- Development of key business requirements
- ERP software selection and development of future state system architecture
- Created end-state for Procure-to-Pay, Order-to-Cash and Record-to-Report detailing new processes, roles, headcounts, and technologies utilized
- Detailed requirements to drive budgeting and forecasting improvements
- Implementation of NetSuite, testing, training and cutover support
- Dual control (permissions and workflow)
- Access and change management controls
- Workflows for duty segregation
- Autoload from legacy tickets solution to NetSuite
- Use of reconciliation tool to manage controls and account for large transactional volume
- Controlled accounting functionality
- Audit trail
- Governance, risk, and compliance processes
- Robust security controls (SOC 1, 2, 3)
- PBCS FP&A reporting tool
- Enhanced reporting capabilities via dimensionality
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