Sandhill brings extensive experience with public and private companies to deliver a full array of financial services.
Our assignments range from general accounting ,financial reporting, budgeting and forecasting, risk management, GAAP and SEC compliance and providing legal services to corporate clients. We offer expertise in acquisitions and divestitures, intellectual property law, management of complex litigation, SEC and anti-trust compliance and employment law understanding the issues facing the small family firm as well as multi-national corporations. Sandhill Consulting Group members have the expertise and proficiency to augment our client’s internal team and resources to complete an assignment within scope, on a timely basis and within the budget.
- Merger and Acquisition Work
- Debt and Equity Matters
- Credit/ Collections and Cash Management
- Income and Other Tax Compliance and Research
- Turnaround and Restructuring Situations
- ERP Implementations
- Business Process Improvement Initiatives
ERP Implementation #1
The Challenge: As a result of a change of control, the Company needed to install a new ERP system that included full financial reporting capability. The deadline to complete the systems conversion was one year.
Our Approach: Sandhill oversaw a three person internal project team consisting of the IT director, the customer service manager and an operations manager. Detailed system requirements were developed and interviews were conducted with software companies. A point of emphasis in the software search was to identify software that would best meet system requirements without the need for extensive customization of the base system. Three finalists were selected based upon meeting the requirements. The finalists were then costed, reference checked and the winner emerged. Sandhill assisted with the contract terms and with interviewing and selecting the personnel from the software company that would be on the project team.
A phased approach was taken. Phase one was implementation of the base functionality that was required to operate the daily business and to provide required financial reports. Phase two was the implementation of enhancements that improved operating efficiency and expanded reporting and phase three was the implementation of a fully integrated WMS system.
In addition to the technical aspects of system conversion, a detailed training schedule and an extensive testing plan were developed and executed. Also, functional project teams were established to work with the new system in the test environment and to develop the detailed implementation plan for their respective areas.
Results Achieved: Despite many challenges, the new ERP system was implemented on time and the company was able to successfully convert to the new system before the deadline expired. As a result of input from the manufacturing project team, some of the enhanced functionality, including bar coded shop floor control, was implemented as part of phase one rather than phase two.
ERP Implementation #2
The Challenge: The Company purchased an ERP system seven years ago. As a result of employee turnover, all but the most basic elements of the system were not being used. Inventory variances were increasing and causing significant year end write downs. The Company decided to re-launch the ERP system with an emphasis on inventory control.
Our Approach: A Sandhill consultant was appointed the full time, on site project leader. It was quickly determined that no system could improve control unless inventory move transaction discipline, both in manufacturing and in distribution, was greatly increased. This was the first step in the project. An internal team, led by Sandhill, developed inventory control procedures, including daily cycle counting, that changed the processes in both receiving and shipping as well as moves in and out of the raw materials warehouse to manufacturing.
The old ERP system was upgraded to the latest version and bar coded shop floor control was implemented in manufacturing. To make use of the system convenient, a system work station was added to each work center. Also, the project plan included the implementation of bar coded moves into and out of each storage location in the distribution center.
The project plan used a phased approach. Phase one encompassed procedural changes. Phased two was the implementation of shop floor control in manufacturing and phase three was automating distribution. Individual team member feedback was stressed in phase one and an extensive training plan was developed and executed to assure required interfaces with the system were understood and incorporated into the daily routine.
Results Achieved: The project timeline was met and the Company achieved over 99.5% accuracy on the first year end physical inventory following project completion. The Company was able to reduce the number of physical inventories from three to one per year and reduced inventory in the first year after implementation by more than $2 million.
Middle market metal fabricator was unable to provide private equity sponsor with financial reports and analysis to meet the sponsors needs. Senior lender desired weekly 13 week cash flow projections and reliable covenant certifications. Sandhill executive worked with existing finance team to implement regular cycle count process, brought standard cost system up-to-date, and established consistent and reliable weekly and monthly reporting protocols. In less than 90 days the processes and disciplines were established and both the equity sponsor and lenders were satisfied with the reports generated.