Finance MDM Roadmap for Apparel Manufacturers
Business Need
- Business growing rapidly through brand acquisition which were increasingly difficult to integrate
- Legacy chart of accounts nomenclature and systems impacted financial analysis and closing of books
- Legacy systems were running out of available company codes due to historic numbering scheme
- Company codes loosely governed, but directly impacted many activities in Finance, Tax and Supply Chain
Challenges
- Mistakes in company code assignment had cascading effect that took weeks to correct in each reporting cycle
- Business processes and data flow/usage of company codes were undocumented
- A plan for enterprise definition and governance of finance entities was needed
Solution & Results
- 8-week assessment of process and data flows, definitions and stakeholders
- Recommended three phases of action, related to business benefits and timetable
- Identified actionable units of work in each phase, identified responsible owners and quantified manpower and duration required
- Trained stakeholders methods to own and evolve this roadmap
