Client Projects
Success Stories
Medical Practice
Location: Houston, TX
Challenges: This medical practice had outsourced the management of its accounting records which were reported as up-to-date and reconciled. However, with further exploration, the books needed an entire year's worth of care. No goals, budget, or accountability had been established. Entity structure did not present the best asset protection or tax advantage.
Solution: Cleaned up books and reclassified income statement and balance sheet accounts accordingly. Implemented meaningful reports relevant to goals. Elected new entity structure.
Results: Accounting records are now in pristine condition. Monthly/annual reporting timely tracks against budget. Greater asset protection has been formalized. Filed tax return with over a 50% reduction in tax liability equaling a six-figure tax savings over a 4-year period.
Financial Management Company
Location: Houston, TX
Challenges: The company's accounting records had been neglected so the client was unable to produce real-time financial reports. Client was paying more in taxes than what was required by the tax code.
Solution: Partnering with the client to establish accountability in getting their accounting records caught up, maintained, and reviewed monthly. Implemented a two-phased approach of tax planning strategies: 1) year-end 2018 tax plan and 2) comprehensive 2019 tax plan.
Results: Monthly review of accounting records showed that the client tracked well ahead of their 2018 financial performance. Despite the recent changes in tax law, 2018 year-end tax plan resulted in five-figure tax savings and an improved credit score by 50+ points.
Transportation Distributor
Location: Oklahoma City, OK
Challenges: The transportation distributor implemented Oracle E-Business 12.1.3 along with several customized Oracle solutions. As a result, the client required assistance with post-implementation support.
Solution: Providing post go-live support. Delivered additional training with its Oracle General Ledger, Payables, Receivables, and Purchasing modules.
Results: Resolved hundreds of open issues related to transaction processing, month-end close, reconciliation, and reporting. Proven results led to the implementation of Oracle Assets as well as support of Oracle Assets and iExpense.
Independent Practice Association (IPA)
Location: Houston, TX
Challenges: This practice association operates independent of its hospital entity, and therefore desired to manage and report its financials and taxation requirements apart from the medical center.
Solution: Implemented QuickBooks to provide a centralized system of accounting and reporting. Established segregation of duties to mitigate risk associated with financial management. Manages the monthly accounting and annual and quarterly tax filings for the IPA.
Results: Use of the accounting system has resulted in improved automation. Savings with timely and accurate tax reporting have also been realized.
Independent School District
Location: Dallas, TX
Challenges: Large school district was operating on an extended, supported version of Oracle E-Business applications. The extended support was nearing expiration, which meant that certain updates and certifications would not be available. In addition, there were several key functions within Oracle that the client was not leveraging to maximize its business efficiencies.
Solution: Upgraded Oracle application from 11i to release 12.1.3. Oracle E-Business modules that were upgraded include General Ledger, Assets, Cash, and Purchasing.
Results: Successful completion of the upgrade project rendered additional project opportunities in business process reengineering and implementation of key Oracle functionality.
Paper-Based Packaging Manufacturer
Location: Forney, TX
Challenges: The paper mill company was challenged with a 13-day, month-end close cycle. Much of the transaction processing, analysis and reconciliation was being performed manually in Microsoft Excel. Data corruption existed from Oracle 11i upgrade to R12.1.3.
Solution: Implemented Oracle E-Business Financials process improvements for R12.1.3. Developed detailed month-end close procedures for Purchasing, Payables, Receivables, Cash, and General Ledger as well as detailed instruction on the use of Uninvoiced Receipts, Perpetual Accrual Reconciliation, AP/AR Netting, AR Refunds, WebADI, and other key processes deployed. Performed cleanup of data discrepancies and account variances.
Results: Reduced close schedule to 5 days. Automated transaction processing and reporting. Reconciled account balances.
Tank Barge Operator
Location: Houston, TX
Challenges: The tank barge corporation purchased an entity with 8 operating companies and required conversion of the entity to its Oracle 11i environment.
Solution: Converted the purchased US and Canadian currency entity from its legacy systems to Oracle Financials (Purchasing, Payables, Receivables, Assets, Cash, and General Ledger).
Results: Replaced MAS 500 and FAS 1000 applications. Simplified and streamlined accounting and reporting. Completed on-time and under budget.
Charter and Tour Company
Location: Dallas, TX
Challenges: This transportation organization acquired certain assets and operations of a transportation holdings company. The organization desired to implement Oracle R12.1.3 for its purchase operations.
Solution: Implemented Oracle R12.1.3 of Oracle General Ledger, Payables, and Assets. Developed FSG Reports. Delivered budget, WebADI, chart of account maintenance, and production support training.
Results: Clean converted data. Reliable robust system for enhanced back-office operations.
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