Strengthening Financial Reporting and Supporting ERP Transition for a Global Automotive Manufacturer
The Client
A global automotive manufacturer engaged Venteon Consulting Services to address critical Plex Finance discrepancies, strengthen financial reporting, and support its transition away from a legacy Epicor environment.
The Challenge
The organization faced unexplained financial variances during year-end close involving Purchase Price Variance (PPV), AP Invoice Roll Forward, journal entries, and period-end reporting.
These discrepancies complicated reconciliations, raised external audit concerns, and created additional risk as the company prepared to retire Epicor and consolidate financial balances into Plex.
The Solution: Venteon’s Plex Finance Engagement
Venteon Consulting Services deployed a senior Plex Finance SME specializing in accounting, costing, Procure-to-Pay, and month-end close.
Working directly with Finance and IT leadership, the consultant investigated discrepancies, identified root causes, strengthened accounting processes, and supported audit requirements.
Key Contributions
- Financial Reconciliation: Investigated SCAR, AP Roll Forward, PPV, and journal entry discrepancies.
- Root-Cause Analysis: Identified incomplete roll-forward activity and manual changes affecting period reporting.
- Costing Review: Evaluated PPV calculations, standard costs, and invoice timing.
- Financial Impact: Traced approximately $2 million in PPV variance and identified $650,000 in uninvoiced receipts.
- Audit Support: Documented accounting processes, discrepancies, and corrective actions for external auditors.
- ERP Transition: Supported the planned Epicor shutdown and reconciliation of balances moving into Plex.
The Results
The engagement provided greater clarity into financial discrepancies, strengthened month-end close processes, and improved audit documentation.
Following the initial three-month engagement, the client continued utilizing Venteon Consulting Services for targeted Plex Finance support.
Partner with Venteon Consulting Services
Complex ERP environments require professionals who understand both financial operations and enterprise systems. Venteon Consulting Services connects organizations with experienced consultants who can address critical challenges, strengthen processes, and support successful business transitions.
Contact Venteon Consulting Services to discuss your next project.
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