Achieving a hawk-eyed view of global financial operations with TechOne
Headquartered in the US, the client is a leading high-tech software company with an extensive financial customer base across the world
The client was undergoing substantial international expansion, and realized that its financial accounting platform could no longer adequately support its needs.
The client experienced a slow closing of books within its multi-national environment during financial year-end activities. The platform also lacked multicurrency capabilities, which hindered the client’s ability to comply with localized regulations and taxations. The need was to implement a single, comprehensive financial solution that would not only easily be able to integrate third-party applications, but also ease compliance with international and local audit regulations.
YASH consultants understood the client’s business needs and recommended the implementation of TechOne, an SAP Business All-in-One solution from YASH Technologies, designed specifically for High-tech software providers. The S-Imple (Streamlined Implementations) methodology was utilized to achieve a rapid three-month implementation. The team further leveraged Employed Enterprise Controlling & Consolidation system (EC-CS) to financially consolidate 18 legal entities in 12 global countries. They also implemented the SAP Process Integration (PI) middleware to achieve seamless integration between TechOne and other in-house software applications.
After the successful implementation of TechOne, the client realized real-time visibility into business operations with a comprehensive view of financial operations, including multi-currency and foreign currency transactions. TechOne also helped speed-up closing of books during financial year-end, automate manual accounting processes, and adhere to global compliance requirements with ease. The client also realized a dramatically lowered total cost of ownership due to the scalable solution that would support frequent changes and cater to continued growth.