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An established company was preparing for its first acquisition in the technology space and facing unfamiliar challenges. They were overwhelmed with the sheer volume of due diligence, reconciliation, and integration work ahead.
The Elliott Davis team quickly recognized that the CFO was facing significant challenges. The lack of a structured plan for integration was leading to mounting stress and a high risk of inefficiencies post-close. With multiple systems operating separately, they needed a clear roadmap to unify financial reporting, align teams, and streamline operations.
While the initial ask was centered around accounting reconciliation and due diligence, it quickly became clear that the integration process was far more complex than management anticipated. Many workstreams were being handled in isolation without a comprehensive vision. Without a structured roadmap, the company was facing a chaotic first year post-close. Management was addressing issues on a reactive basis rather than a strategic one.
Recognizing the challenges ahead, the Elliott Davis team proposed a structured approach: a six-week discovery phase to deeply assess the finance function, organizational structure, and system integration. The goal was to provide clarity before the transaction closed to avoid unnecessary delays and inefficiencies post-close.
Elliott Davis built a cross-functional team spanning technical accounting, valuation, tax, financial planning & analysis (FP&A), and integration professionals, bringing in analytics specialists and industry veterans to consider every aspect of the integration. The team served as a sounding board for the CFO, alleviating stress and providing a structured plan to manage the transition effectively.
Key deliverables included:
• Day 1 priority item checklist
• A detailed finance, strategy & operations assessment including focus areas of month-end close, roles and responsibilities, accounting processes, FP&A, organizational design, and technology integration.
• An integration roadmap, breaking down the integration process into 30/60/90-day milestones.
• A comprehensive scorecard, rating each measure (red/yellow/green) to prioritize areas needing immediate attention.
• Working with management to develop their centralized Project Management Office (PMO) framework, aligning stakeholders, including external service providers, on key workstreams and progress tracking.
The Elliott Davis team presented this strategy to the CFO, emphasizing the importance of a structured approach. Without it, the integration would become a game of "whack-a-mole," addressing challenges reactively instead of proactively. The leadership team saw the value and immediately engaged Elliott Davis to supplement their efforts and provide guidance.
With the roadmap in place, the integration process became significantly more manageable. The Elliott Davis team provided end-to-end guidance, helping the CFO and other leaders manage the acquisition with confidence.
Key outcomes included:
• Clear Ownership & Accountability: Identification of project tasks, personnel assignments, and tools to monitor progress. The collaboration identified areas where Elliott Davis could enhance value.
• Talent Strategy: Assessment of employee and contractor roles, identification of skill gaps, restructuring to align with business goals, and strategic workforce planning.
• Technology Consolidation: Development of a plan to integrate multiple systems, reducing inefficiencies and improving data connectivity.
• Post-Close Audit Readiness: The company was confident in their compliance with regulatory requirements and implemented a structured financial reporting system to fit their financial reporting framework.
Throughout the process, the Elliott Davis team helped organize and guide strategy and execution across workstreams. The collaboration created an organized approach that simplified communication and decision-making for the CFO.
Final deliverables included:
• An integration roadmap aligned with leadership’s vision.
• Key findings to encourage rapid progress post-close.
• A comprehensive scorecard that provided visibility into the integration process.
As a result, the acquiring company avoided major post-close inefficiencies and now has a strong, structured plan for continued success. The Elliott Davis team took what could have been a chaotic process and turned it into a seamless, strategic integration.
The information provided in this communication is of a general nature and should not be considered professional advice. You should not act upon the information provided without obtaining specific professional advice. The information above is subject to change.
