M&A – Post Acquisition Integration

ORGANISATION

  • Global Fire protection company (NYSE Fortune -500)- $10b, 69000FTEs, in 50 countries
    • region MENA $200m, 8 countries

project SCOPE

  • Local distributor in Turkey has been acquired, so the integration with MENA regional structure was required

project GEOGRAPHY

TURKEY

FINDINGS

  • Local company with lack of the developed corporate procedures
  • Lack of advanced ERP system
  • Lack of reporting System
  • Poor Compliance policy
  • very limited budgeting
  • no Internal Controls System
  • delayed closing procedures

CHALLENGES

  • Generally poor control environment
  • Lack of Risk based approach understanding
  • not all staff speaking English Cultural differences
  • Low Employee Morale
  • Lack of USGAAP knowledge
  • Low level of corporate accounting

ACTIONS

  • situation assessment
  • building integration team developing integration strategy
  • integration roadmap
  • processes alignment
  • System integration:
    • accounting – SAP implementation
    • reporting – HFM implementation
  • review of contracts (portfolio)
  • Cust & supplier ledger integration
  • permanent monitoring.

DELIVERABLES

  1. IT systems integrated
    • SAP implemented, team trained, Hyperion Implemented – Historical data transferred
  2. Full integration with corporate structures
    • processes and procedures implemented. Local staff trained and understanding the importance to follow policies. Alignment of culture, work style, and value
  3. Proper reporting and forecasting
    • Reporting, Budgeting, Forecasting, Quick and efficient month/year closing process. Change of the target from top line onto bottom line (profitability)
  4. Efficient ICM dep’t (Internal Controls)
    • Well functioning and efficient Internal Controls , smoothly managed SOX process, Proper Segregation of Duties

EXPERTISE APPLIED

Finance & Accounting

  • Strategic Fin. Planning, Execution
  • Budgets/Forecasts/Actual P&L/BCF
  • FP&A, Statutory, Group Reporting
  • Financial and reporting discipline

Risk Management

  • risk identification and evaluation
  • promoting risk approach culture

Change management

  • addressing staff concerns,
  • facilitating cultural alignment
  • operational processes streamlining

Project management

  • proper process planning
  • roadmaps preparation and execution
  • efficient resources allocation

Ethics and Integrity

  • promoting culture of transparency and integrity

IT Systems

  • HYPERION, SAP

Internal Controls, SOX, Compliance

DOWNLOAD FILE

M&A Post Acquisition Integration (pdf) – less than 1MB

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