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When a company makes an acquisition or merges with another company, it’s likely there will be different business systems, presenting a range of integration challenges often taking years to fully overcome. If these challenges are handled effectively, though, it will ultimately result in net efficiencies and cost savings across the enterprise.
Prisio has been doing work for a major US-based entertainment company, streamlining their financial processes and systems, including billing, revenue management, credit and collections. The company then acquired another media company for over $1B to extend their global media and entertainment footprint. The target company was headquartered in the UK, and managed a number of operations in multiple different countries, spanning Western and Central Europe, Latin America and the USA.
The company formed a special team to address these issues. Based on the successful work Prisio had done prior with their US-based teams, they engaged Prisio to create a comprehensive plan to systematically merge and consolidate all of the business systems, across all of the newly acquired global operations.
Initially, the short-term goal was to perform a detailed assessment of the various financial business applications. Ultimately, the long-term goal was to create a unified Global Chart of Accounts, with a single fully-integrated business application globally.
After the assessments and regional rollouts completed, the company was able to reduce costs significantly in a number of ways: