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Solucient: Consolidating Financial Data for Improved Control and Reporting

When Solucient completed its last acquisition in 2001, the finance team realized that it was going to be incredibly tough to manage the business. None of the various corporate entities had an enterprise system and spreadsheets were proliferating throughout the finance department. Jon Greifenkamp, VP, Finance explained the situation, “We probably had twice as many spreadsheets as products. So it got to be extremely unwieldy for us from the perspective of revenue recognition, accurate and timely invoicing, and forecasting renewals. We were at the breaking point. We were either going to have to add several FTEs and still have a significant element of human error or consolidate all of this disparate information.”

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