Business Assessment for Revenue Management and Billing Process
The challenge
A global leader forinformation protection and storage services engaged RSM McGladrey’s CFO Advisory Services Group to conduct a businessassessment for its Revenue Management and Billing Process. The assessment was based on the Company’sacquisition history which included two new product lines along with an in-houseproduct. The objective of the engagementwas to determine business and technology requirements for an integrated Revenueand Billing environment.
When the Company engaged RSMMcGladrey CFO Advisory Services, each of the product lines utilized a differentbilling system to produce invoices, manage revenue recognition, and reportfinancial information to the corporate financial system. Many of the billing processes involved a significantamount of manual intervention and data entry. With the Company’s current state it was difficult to provide totalcustomer satisfaction, report financial information in a timely manner, andaccurately data mine for operational analysis.
The solution
RSM McGladrey CFO Advisory Service’scapabilities were well-suited to address all aspects of this engagement. Arecognized competitive strength of our services is combining our projectmanagement capabilities with our extensive experience in business processdesign, application solutions, & IT infrastructure.
We conducted an extensive assessmentof the Company’s Billing and Revenue processes and applications.
This evaluation included:
- Conducting interviews withthe Executive Team, Product Development, Sales and Marketing, Finance, andInformation Technology functions.
- Documenting the “As-Is”state and identifying opportunities for improvement.
- Detailing specific businessand information technology requirements that were then used to produce aGap-Analysis with current systems.
- Developing a strategy androadmap for next steps.
- Summarizing the assessmentfindings and presenting to the Executive Team.
The results
The RSM McGladrey CFOAdvisory Services Group provided the Company with a clear understanding of thecurrent Revenue Management and Billing Process environment, and its ability tomeet the requirements of a consolidated billing process.
