Shifting chaos to calm while staying laser-focused on compliance
A client experienced growing pains from multiple acquisitions in a short-time period and struggled with staying financially and legally compliant.
Brilliant Muse developed a foundational framework with that paired rigor with a strong program management team to align with finance and legal.
Challenge
Brilliant Muse worked with an American company operating a worldwide online payments system. The company experienced numerous acquisitions in a short time frame, and were at a high risk for lack of financial and legal compliance. With the recent acquisitions, they had limited tracking tools and processes and were experiencing a large multi-million consolidated budget with 20+ cost centers and 20+ budget owners - making things a bit chaotic.
Action
The foundation that Brilliant Muse was able to build was so successful that the client adopted this model internally with employee resources. The framework included:
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Documented Process for successful onboarding new companies via acquisition
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Rules of Engagement for improved stakeholder management
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Vendor Management Program so that budget owners found best-in-class suppliers easily, projects kicked off sooner, and suppliers were informed and paid
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Product Requirement Doc (PRD) and participation in exploration of 3rd party tool solutions
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End-to-End Process with accountability: from budget allocation to legal contracts to financial reporting to vendor payment
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Finance and Legal Compliance Global Training
Impact
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Budgets by cost center managed within +/-3% quarterly allocation
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100% contract approval rate plus huge increase in overall compliance
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Acquired companies onboarded within one quarter and compliant with legal and financial requirements