Accountant at Work

Financial System Project Support

CLIENT SUCCESS STORIES

Client Profile:

A banking and financial services provider with $9+ billion in revenue, $150+ billion in assets, 7,000+ employees and locations nationwide.

Client Challenge:

An existing internally built custom application needed updates and improvements. This application bridges the gap between an existing legacy system and their SAP system and provides recalculated financial data to reduce the need for manual entries. The initial launch of the application did not include all of the desired features, specifically accurate depreciation of lease assets and related entries for business transactions involving these assets. The project to achieve these updates needed to be done in accordance with their corporate project management framework with multiple departments and stakeholders involved.

Management brought in Herndonwood to manage the resolution of the gaps because they understood the need to supplement existing staff, obtain missing skills, act quickly, and create structure around the process.

 
Approach & Solution:

Herndonwood consultants worked with the project lead to see the project through its lifecycle.

Herndonwood services:
 

  • Interviewed various stakeholders to define and prioritize their requirements

  • Developed and documented business goals, business requirements, use cases, system requirements, and test scripts

  • Performed testing of changes made to the application

  • Supported user acceptance testing

  • Identified causes of errors discovered during testing and worked with projectt lead to correct them
     

Business Impact:

Herndonwood provided support for the project through its entire lifecycle, from initial project definition to implementation. As a result of this project, the improved application has eliminated many of the time-consuming manual entries and more accurately values the lease assets of the client. It also provides much needed reporting for financial analysis and strategic planning.