Case Study: Meeting Critical Revenue Recognition Needs
After rapid acquisition of more than 20 organizations worldwide, a large Atlanta-based software provider was poised for market leadership. While well positioned for success, infrastructure issues were unavoidable with such extensive M&A activity: Namely, a breakdown in billing of maintenance fees to many of its 70,000 clients, representing a significant portion of the company's revenues. Executive management called on The Intersect Group to remedy the situation and recover revenue fast.
The billing issue arose when client data from the 20 acquired entities using a dozen different billing systems were combined into a single database. The primary question—How to consolidate maintenance billing operations with so many processing, data and procedural variations?— generated countless other questions requiring answers before resolution could be reached.
Initially the company hoped to address the challenge with internal resources augmented by skilled staffing from The Intersect Group, but quickly realized the initiative’s magnitude called for dedication of project leadership. Again the company turned to The Intersect Group—this time for its finance & accounting consulting services, in addition to placement services.
Like a SWAT team responding to a crisis, Intersect consulting quickly established an on-site command center to provide the highly structured environment necessary to unravel tangled workflow processes. The senior consultant imposed project management practices with detailed critical path plans that log issues, provide reports, monitor progress and itemize open items. Unfazed by having to learn the client’s legacy billing database system, the Intersect consulting team of two dozen business analysts, revenue assurance and billing specialists began their process-driven computerized investigation—working three shifts, seven days a week. How many records are there and how many should there be worldwide? What is the single best method to input data? Were currency conversions and translation nuances correct for all the different countries? Nothing was overlooked in the process. Throughout the engagement consultants noted and recorded points central to processes and procedures to be addressed in the future.
As soon as bills began being generated, more consultants were added to accelerate revenues: Each professional generated a quantifiable amount in annual maintenance fees. Within six months the company had captured unrealized revenues totaling more than twice the cost of the entire project, providing a 100% return on investment.
Within six months the company had captured unrealized revenues totaling more than twice the cost of the entire project, providing a 100% return on investment.
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About The Intersect Group
The Intersect Group, founded in 2006, is a different and better business
partner. The Intersect Group creates unparalleled value for its clients by combining industry-leading consulting
capabilities with comprehensive staffing and recruitment services. Clients trust The Intersect Group to deliver results
based on their deep expertise and proven resources within finance, accounting, and information technology. Through The
Intersect Group’s flexible delivery approach, you get the right solution, at the right time to accelerate your success and
achieve all of your mission-critical objectives.
Since inception, The Intersect Group's revenue has grown 800 percent, posting $3 million in revenue in its first year and a record $27 million in annual revenue at the end of 2010. The Intersect Group is one of the top 500 fastest growing privately held companies in the United States, as determined by Inc. magazine. In addition, Inc. magazine ranked us within the top 100 in the Business Products and Services category. The Intersect Group's 420 employees serve clients nationwide from offices in Atlanta, GA, Chicago, IL, and Dallas, TX.
