Our client’s management knew they needed a flexible, scalable, and reliable financial accounting system to properly track and report on their business as they experience growth in revenues, expenses, and employees. Intone was contracted to assist the enterprise to install a system before the next significant level of increase.
Intone’s experienced, ‘Subject Matter Experts’ performed an in-depth ‘as-is’ analysis of the client’s workflow, processes, reporting and compliance requirements. We developed roadmaps and detailed plans for process enhancements and solution selection process. While working with our client, and prior to FDA approval for a prospective product offering, the company was acquired by another pharmaceutical entity of similar size. The merged company recognized our business transformation experience and remained committed to the Intone upgrade project.
The new parent company evaluated our original client’s financial processes and approved Intone’s strategy for the business. Intone advisors had determined that the cloud-based NetSuite ERP (enterprise resource planning) application was the best choice for the company’s various accounting and reporting requirements. Based on consistent workflow analysis, Intone documented the requirements for a new ERP system to provide for more effective, efficient, consistent and timely processing of financial transactions and accounting data from one centralized place.
Intone converted the organization’s financial environment, implementing a complex finance and accounting framework that generates complicated financial statements that, as required by statute, are compliant with GAAP (generally accepted accounting principles). The techniques we implemented are innovative towards account for projected growth and subsequent increase in revenues, in addition with the evolving reporting needs of the now publicly traded client-company. Transparency in operations and accurate reporting are expected standards to attract external investors. Intone’s premier financial accounting outsourcing practice (FAO) has enabled our client to finance new product R&D in an extremely competitive equity market through accurate, reliable, and timely reporting.
Intone is experienced and knowledgeable within the key areas of ERP implementation, financial and business transformation and IT advisory and we brought innovation to our client. We employed our careful planning and road mapping procedures to provide assurance with the project which was scoped appropriately and allowed our ERP specialists to accelerate the implementation process.
Our client has joined an increasing number of decision-makers who are turning to outsource to help enhance performance, reduce costs and optimize operations. By adopting an outsourcing model with Intone’s FAO (financial accounting outsourcing) advisors, our client’s employees and executives can better focus on growing the core business and remaining competitive. In addition, by working with Intone, our client has consolidated multiple outsourcing engagements under one company. Instead of working with multiple organizations for the NetSuite implementation, FAO and external reporting accounting support, the company only has to manage one relationship.