Mergers, new systems
‘Mergers and acquisitions’ are emotive. Quite often the procedure is driven from a strategic or financial side, with very little consideration for the operational effects. The decisions may be take over a competitor, acquire new brands or products, vertically integrate a supplier or diversify the holdings.
In the due diligence process, the review of operational activities is often secondary; and rarely does an incompatibility in operational structures and process materially affect a successful merger or acquisition.
Grey Dot’s and Autorek’s experience in this field is wide and varied. Autorek products and Grey Dot staff have been used in large scale data migrations and rationalising and streamlining functions post-merger by providing consistent and scalable “back office” solutions.
Key success points and benefits of the Autorek reconciliation software in an M&A environment:
• Large scale data migration for one of the largest integrations in European Financial Services
• Transferring of hundreds of millions of records – reconciled inside an hour
• Post-merger consolidation of banking and accounting processes
• Integration of several disparate books of loans and differing processes
• Manage the take-on of a large portfolio of client accounts
• Creation of a shared services capability inside a large orgnaistion
• Rationalise intercompany transactions and consolidations post-merger
• Scalable and consistent processes reducing man-hours for reconciliations in the region of 75%
• Economies of scale in the the cost curve for expansion, mergers and organic growth
• Faster and more accurate allocation of cash to sales ledgers – (Refer to the VanguARd™ product)
• Instant escalation of blockages and breaks to stakeholders (internal or external)
• Shorter timescales to correct errors
• Increased response speed to prevent and assess possible losses
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