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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.

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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:

  • Documented Process for successful onboarding new companies via acquisition

  • Rules of Engagement for improved stakeholder management

  • Vendor Management Program so that budget owners found best-in-class suppliers easily, projects kicked off sooner, and suppliers were informed and paid 

  • Product Requirement Doc (PRD) and participation in exploration of 3rd party tool solutions

  • End-to-End Process with accountability: from budget allocation to legal contracts to financial reporting to vendor payment

  • Finance and Legal Compliance Global Training

Impact

  • Budgets by cost center managed within +/-3% quarterly allocation

  • 100% contract approval rate plus huge increase in overall compliance 

  • Acquired companies onboarded within one quarter and compliant with legal and financial requirements

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