Case study

Financial Services UK

Our client is one of the UK’s leading investors in consumer debt portfolios and a major player in Europe’s credit management industry.

 

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100%

Successful completion of audited accounts

Improved Efficiency

Successful ERP System Integration

The Challenge

Our client had embarked on a cross-regional and cross-country centralisation programme, consolidating operations into a single shared service function and implementing a new ERP system.

However, the onset of the COVID-19 pandemic significantly disrupted the migration and integration phase, leading to protracted accounting and reporting issues. These challenges were compounded by a lack of technical resources and expertise during the pandemic.

Our Approach

HWIS was engaged to provide subject matter expertise and advise on how to approach the problem, making a series of recommendations for the transformation programme. After conducting a full review, HWIS mobilised a task force to lead a large-scale Remediation and Optimisation Programme.

Specialist resources were deployed rapidly, including a Programme Transformation Director, a PMO team, several Technical Accountants, ERP Consultants, and an experienced CFO to oversee the entire remediation and transformation phases.

A two-phased approach was undertaken:

  • Redress and Remediation: Extensive accounting data was forensically examined and rationalised by a team of Senior Technical Accountants. Once reconciled, the data was translated into meaningful and robust reports to ensure audit compliance.
  • Recalibration and Integration: The focus then shifted to the recalibration and integration of the ERP system. Subject matter experts (SMEs) were employed to uninstall and successfully reinstall the ERP system.

Results

  • Capability assessment undertaken resulting in a new TOM and a recruitment strategy to appoint 9 new roles. 
  • Successful completion of audited accounts. 
  • Successful integration of ERP system.

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