System Implementation

Bubbling up success: Enhancing SAP Implementation for a Fortune 50 company

Client

Fortune 50 multinational food, beverage, snack corporation

Industry

Food and beverage

  • Process Enhancement
  • Standardization & Automation
  • Process Mapping and Documentation
  • Data Migration
  • Training and Change Management
  • Post-Go-Live Support
  • Period-End Reporting

The Challenge: Navigating a complex ERP Transition

A Fortune 50 consumer goods manufacturer was undergoing a phased SAP S/4HANA implementation, transitioning from Oracle. Their largest business unit had completed its rollout, but subsequent implementations created significant operational challenges, particularly in fixed assets and cost accounting. With key personnel transitioning out and ongoing process inefficiencies, the client sought Siegfried’s assistance with maintaining reporting accuracy while temporarily sustaining and streamlining legacy processes, mapping and migrating data, and driving overall efficiencies.

The client faced multiple hurdles during the transition from Oracle to SAP S/4HANA, including:

  • Fixed Assets Management: Manual processes and a backlog of capitalized projects caused a rising CIP accrual balance.
  • System Utilization Gaps: The team was not fully leveraging SAP’s automation capabilities, leading to inefficiencies in data entry and financial reporting.
  • Personnel Changes: The departure of key finance team members created knowledge gaps and slowed the transition.
  • Cross-Department Coordination: Ensuring accurate and timely financial reporting required seamless collaboration across multiple teams.

The Solution: Strategic execution for a seamless transition

Our professionals were deployed to provide process optimization and hands-on SAP support while the system was being implemented. Key contributions included:

Fixed assets and capitalization support:

  • Partnered with the client’s project accountants to efficiently capitalize fixed assets and clear the backlog of CIP accruals.
  • Leveraged automation tools to improve data entry speed and accuracy.

Cost accounting optimization:

  • Provided additional bandwidth for the Cost Accounting team, helping them with finished goods and raw material costing.
  • Supported the execution of business proposals to create new product codes in SAP’s MasterFiles.
  • Managed critical financial reports, including XNET analyses and cycle tracking, to ensure timely and accurate reporting.

Project management and system integration:

  • Assisted with the adoption of SAP functionalities, improving process standardization across teams.
  • Supported the execution of journal entries and financial close processes, ensuring compliance and accuracy.
  • Absorbed key responsibilities left by transitioning personnel to ensure operational continuity.
  • Facilitated knowledge sharing by mentoring new team members and improving documentation practices, ensuring smooth personnel transition.

The Impact: Building a stronger financial foundation

As the system implementation was carried out, our professionals provided immediate impact and long-term value to see through a successful financial transformation, including:

  • Successfully capitalized over $51 million in assets, significantly reducing the client’s CIP accrual.
  • Improved data accuracy and efficiency through automation, reducing reliance on manual input.
  • Ensured a smooth personnel transition by taking on critical finance functions and training new hires.
  • Strengthened financial reporting and cost accounting processes, ensuring compliance and operational efficiency.

What the client said

“When the Siegfried team is given tasks or workstreams, they not only take ownership, but actively look for ways to improve processes and support us with innovation. This in turn helps build trust between the Siegfrid team and our internal teams, who know that things will not only be done correctly but with exceptional quality. We are all very appreciative of their hard work and contributions during this time of great transformation!”

“Throughout every phase of the project, it was evident that the Siegfried team possesses a high level of ambition, courage, and confidence. They worked independently to reach out and work with our internal project accountants to understand the details and nuances associated with each of the individual projects being capitalized. The Siegfried team remained flexible in training the new team members and transitioning the work from the project accountants to the new team. They did not shy away from taking on new tasks and asked thoughtful and intelligent questions, demonstrating eagerness to learn more about our company and add long-term value.”

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