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AGRICULTURAL EQUIPMENT DEALER CASE STUDY
Embark's Anaplan solution transformed the client’s financial operations
Introduction
After a rapid and massive spell of expansion through M&A, a large agricultural equipment dealer was left with a few urgent issues to address—disjointed financial systems, inadequate FP&A, a messy data environment, and lackluster reporting among them. That's where Embark enters the picture.
Our Solutions
With expert solutions in Digital Transformation, Data Analytics & Automation, Accounting & Reporting, and Office of the CFO services, Embark was the ideal partner for the company.
Index
The “Big Wins”
1. Seamless budgeting & forecasting
Embark implemented Anaplan to transform slow, cumbersome spreadsheet-based processes into streamlined, automated financial planning capabilities.
2. Unlocked actionable intelligence
Thanks to centralized access to integrated financial data across systems, Embark provided leadership with comprehensive, real-time visibility to make data-driven decisions.
Our clients are happy. We’re happy. Everybody’s happy.
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We have had great experience with highly competent people in all projects we have engaged them for. In my experience the competence of the folks has been hard to replicate consistently with other companies.
Melanie Merritt, Corporate Controller of Helmerich & Payne, Inc.
The team is on top of it. They have been understanding and flexible with pricing and timing the engagement. The team, at all levels, is very competent in regards to the project. They stay in constant communication and engage us in a very personal yet professional manner.
Terry Nwosuocha, CPA - Senior Director of Financial Reporting & Accounting of SecurityScorecard
Amazing supportive attitude supported by a deep and broad knowledge and skill. Our requirement is always 1000% fulfilled by Embark team.
Bruce Suzuki, Lyseon North America Inc. (LNAI)
Embark sends the best people, so much so that it makes us think that these people grow on trees. We know they don't and we are grateful for all Embark does for our team.
Brandon Walls, CPA - Vice President, Controller of Ashford Hospitality Trust
Executive summary
A major agricultural equipment dealer faced significant challenges following rapid expansion and diversification. The company acquired a number of businesses to diversify operations and create new efficiencies. However, such rapid expansion also led to a complex web of financial systems that now spread across various divisions. Embark streamlined these processes and systems for the company, integrating advanced tools like Anaplan and Azure Data Lake for efficient, real-time reporting and forecasting. Building on this solid foundation, Embark continues to transform the company’s financial operations into an efficient, cohesive unit leadership can rely on for timely, accurate, forward-looking insights.
Challenges & objectives
The client’s expansion introduced new complexities across its people, processes, and technology. Now facing disjointed ERP systems, data environments, and FP&A capabilities struggling to address so many moving parts, leadership wanted to improve consistency, efficiency, and intelligence across financial operations, targeting specific problem areas like:
- Disparate Legacy Systems: Manual, error-prone financial reporting and planning relying on disconnected ERPs and Excel rather than scalable FP&A platforms.
- Limited Data Accessibility: Difficulty obtaining holistic financial views and drilling into transaction details across their many disjointed systems.
- Inefficient Budgeting & Forecasting: Reliance on cumbersome, spreadsheet-based processes for financial planning versus streamlined, automated FP&A tools.
Looking ahead, the company wanted to incorporate centralized, automated solutions for aggregating and analyzing financial data as well as accelerating FP&A processes. Key goals included:
- Consolidating Systems: Integrating information into a uniform data environment.
- Enhancing Analytics and Reporting: Drastically improving visibility through centralized access to financial metrics and reporting.
- Transforming Financial Planning: Establishing more agile budgeting, forecasting, and modeling capabilities.
How Embark helped
Leadership initially engaged Embark to identify and optimize the best FP&A platform for its particular needs and objectives. Ultimately landing on Anaplan as the ideal FP&A solution for the company, Embark’s work focused on a strategic blend of technology integration and process optimization to help the company reach its objectives – and then some.
Anaplan Implementation & FP&A Enhancement
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Guided finance leadership through the FP&A vendor selection process, eventually selecting Anaplan as the optimal solution.
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Launched a data transformation project with the implementation of Anaplan, centralizing and enhancing budgeting and forecasting.
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Transitioned budgeting from Excel to Anaplan for a more streamlined and efficient process.
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Integrated advanced forecasting capabilities within Anaplan to improve financial planning.
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Enabled in-depth financial analysis and strategic decision-making using Anaplan's comprehensive reporting tools.
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Established a scalable and efficient financial framework within Anaplan, adaptable to the company’s growth.
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Empowered leadership to independently manage their financial reporting and analysis using Anaplan.
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Facilitated the setup of Azure Data Lake, integrating it with Anaplan for consolidated data management.
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Enhanced FP&A reporting capabilities by providing real-time financial data through Anaplan.
Operational Efficiency & Process Optimization
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Enhanced the efficiency of financial statement reporting processes.
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Supported finance leadership in managing the transition and effective adoption of Anaplan and other financial systems.
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Integrated Anaplan with existing systems, creating a cohesive financial management environment.
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Simplified the management of complex financial data from various divisions.
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Customized solutions to meet the company’s unique challenges and diversified business structure.
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Advised on the selection and replacement of legacy ERP systems, impacting the organization's efficiency.
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Documented financial operations processes for improved clarity and compliance.
Results: our client now has a footing to build from
Embark provided critical knowledge and skills to help management meet their many objectives, effectively preparing the company for public entity status after completion of the SPAC reverse merger transaction. Between our expertise on a broad spectrum of needs and the best practices we imparted on process improvement, team structure, and communication, our client now has the accounting & reporting foundation they need for a successful future.
Related resources
The Definitive Guide to Financial Audit Preparation
Embark's Definitive Guide to Financial Audit Preparation is the ultimate playbook for navigating and leveraging external audits. Tailored for CFOs trying to fortify their organizations and harness audits for strategic advantage, our guide is filled with expert, practical advice, best practices, and unique insights into the audit process.
IT Due Diligence Checklist
Embark’s IT Due Diligence Checklist is a practical tool forged from real-world insights and genuine M&A expertise. It will help you identify and prioritize potential IT risks, estimate costs, and spot any systems, data, or staffing gaps, all to help you develop a comprehensive IT integration roadmap.
The Blueprint For Building a Data Culture in the Office of the CFO
Embark’s blueprint details every step you’ll need to build a dynamic, insightful data culture, even if you’re starting from scratch. Filled with tips and techniques from the frontlines of finance, our practical, hands-on approach to building a data culture is fast, efficient, and effective.
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