Technology & Digital
Enabling systems and automation necessary to deliver accurate data and analyses is critical for high-performing organizations. Riveron helps our clients optimize and engage technologies to achieve their diverse and evolving goals.
By understanding your business first, Riveron’s proven system-agnostic approach determines how best to enable new and existing technologies to allow for the greatest return on investment. Combining best practices and immense experience with technical acumen, our teams customize and implement technology solutions that will streamline and scale your business. Riveron acts as an extension of management to ensure an optimized, user-friendly system is implemented that strengthens internal controls and accelerates the record-to-report cycle.
Our technology & digital offerings include:
- System selection and implementation
- System integration and optimization
- Data analytics and master data management
- IT strategy development
Riveron is focused on partnering with best-of-breed, cloud-based ERP, Corporate Performance Management (CPM), Financial Governance and other technologies to drive process improvement, enterprise automation and overall operational efficiencies. Click below to learn more about our specific capabilities.
Enterprise Resource Planning (ERP)
By understanding your business first- industry, people, processes and technology- Riveron develops a comprehensive ERP solution that streamlines operations and achieves the goals of our evolving clients.
Corporate Performance Management (CPM)
As companies grow in complexity, often their processes, reporting requirements and need for automation grow with them. Riveron provides a unique blend of industry, finance and technology expertise to guide clients through their finance transformation journey.
Financial Governance is the set of security measures put into place to ensure financial statements are trustworthy and accurate. In an optimal environment, technology is leveraged not only to provide sound internal controls, but to automate and make key business processes more efficient. Riveron interfaces between the client and technology providers to deliver optimized, user-friendly systems and tools that enhance the ability to manage internal controls and accelerate the record-to-report lifecycle.
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
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News & Insights
Determining the term of an identified lease has become a key topic of discussion surrounding the implementation of ASC 842. This determination can have material balance sheet implications where leasing is a significant component of a company’s business. Specifically, if a lease qualifies as short-term, companies may make an accounting policy election not to apply certain balance sheet recognition requirements.
U.S. healthcare operators, regardless of size or specialty, face increasing pressure to reduce costs while maximizing revenue and cash flow in an already complicated system. Outdated controls, disparate IT systems and complex processes for patient interaction, coding, billing and reimbursement make it difficult to identify and implement change. The increased scrutiny on patient outcomes, safety and satisfaction, along with increasing labor, medical supply and drug costs only make the task of running a successful healthcare business more challenging.
Riveron Launches Cloud ERP Practice for Private Equity Firms, Corporations and Lenders Across Various Industries
Riveron, a business advisory firm, has launched a dedicated cloud-based ERP practice, helping their customers successfully leverage technologies in order to achieve diverse and evolving goals. Riveron provides its customers with a unique combination of consulting, public accounting and industry experience.
“Every industry has unique business needs and objectives they are trying to achieve. Delivering accurate data and supporting analysis is critical for high-performing organizations to remain competitive. We are committed to enabling technologies that provide the greatest return on investment,” said Ryan Senter, Executive Managing Director, Riveron. “By combining business process leading practices with Riveron’s extensive technical acumen around systems like NetSuite, our customers can streamline and scale their businesses like never before.”
Product complexity, globally dispersed manufacturing and distribution networks require companies to delicately balance logistics costs with the ability of supply chains to react to changing customer needs. Supply chain agility is no longer a luxury, but a necessity to improve profitability and cash flow.
Other Performance Improvement Offerings
Related News & Insights
Last week, Riveron sponsored OneStream’s Splash conference, which was held in New Orleans, Louisiana. This annual event convened more than 1,100 finance and industry representatives for three days of networking and learning best practice implementation techniques from the software developers and existing clients. Here are our key takeaways from Splash 2019.