BUSINESS APPLICATION STRATEGY
ACCOUNTING STANDARDS COMPLIANCE
ENTERPISE FINANCIAL APPLICATIONS & ANALYTICS
ENTERPRISE RESOURCE PLANNING (ERP)
At Protominds, we differentiate ourselves by wrapping the right technology around an organization’s strategic objectives as well as being the go-to resource in many critical strategic areas. Our consultants quickly evaluate your current strengths and areas of improvement, various stages of limitations, and your business potential to provide you a storyboard that sets priorities and minimizes risk.
We help you with the most pressing business challenges companies face:
- Choosing the technology to meet your objectives
- Mitigating risk and ensuring compliance
- Getting you better business intelligence
- Moving critical systems to the cloud
Our solutions cover the full spectrum from technology to new processes to people to compliance. We travel with you in your digital transformation journey to either help you create your own internal team or an outsourced approach and not limiting to just provide strategy.
BUSINESS APPLICATION CONSULTING
Protomind’s Business Application strategy, selection, implementation and integration consulting services provide you with out of the box industry best practices and best of breed technology solutions in this mobile first, cloud first world.
Cloud computing has become ubiquitous in today’s business environment – public, private and hybrid Cloud solutions exist in every organization. Today’s business leaders must seamlessly incorporate Cloud computing strategy in their plans for growth.
Protomind’s comprehensive Business Application Consulting services address the strategic challenges faced by CFOs of fast-growing companies. We evaluate your current business process and technology landscape and works side by side with your organization to ensure you select the software tools you need to scale for growth and operate as efficiently as possible. This service takes into account current manual and automated practices and looks for areas where operations can cut redundancy, reduce manual tasks, and improve or eliminate systems.
ACCOUNTING STANDARDS COMPLIANCE
In today’s ever-expanding and shifting business environment, standards change, pronouncements are issued and best practices warrant well-versed resources to meet the evolving requirements. To achieve Digital transformation, Organizations must strike a balance by achieving the right control through risk mitigation, visibility and consistent quality, and the right efficiency across processes and systems, while creating the right value for the business at optimized cost.
Accounting Compliance and Reporting services is focused on helping large, multinational companies meet their financial reporting requirements in the many countries where they do business. Companies across industries are engaged in finance transformation initiatives, marked by expansion into emerging markets, the deployment of Shared Services Centers and the continuous drive for efficiency and lower costs.
- Revenue Recognition – ASC 606 / IFRS 15
- Lease Accounting – ASC 842 / IFRS 16
- Insurance – IFRS 17
- Group-to-local GAAP conversion
- Post-general ledger “record” accounting, such as assistance with period close, trial balance compilation, reconciliations, and data gathering and analysis
Protominds can assist with such services as Consulting, Systems Implementation & Integration, Processional Services and Support to achieve the required compliance and accounting goals.
ENTERPRISE FINANCIAL APPLICATIONS & ANALYTICS
Financial management thorough automated systems – Bring your accounting, consolidation, planning, procurement, projects, reporting, and analytics into a financial management system comprising of cloud based solutions enabling subscription management model and cloud software that automates and controls the entire financial close process enabling transactional efficiency and control.
This helps to achieve the desired goals of a CFO Office towards their digital transformation journey getting them more time to tackle their biggest challenges, like driving strategic planning, finding the best paths to profitability and Drive growth while managing costs. This digital transformation through enterprise financial applications enables the CFO Office to
- Quickly gain a more complete and accurate picture of your business.
- Equip leaders with relevant, contextual financial insights on any device.
- Embrace organizational, process, and reporting changes without business disruption.
Protominds specializes in implementing the enterprise financial applications of Zuora & Blackline to address your digital transformation needs along with our Financial Analytics Intelligence to help our customers in their efforts to manage their financial resources continuously and to preserve—and increase—shareholder value. We bring an industry-focused approach to our clients’ needs, leveraging the experience of our organization to deliver the value from finance analytics that our customers expect by driving insights to action:
Modernize your financial planning process: Incorporate advanced predictive capabilities into the very fabric of how your company makes financial decisions and prepares for the future.
Align financial and operational drivers: Create frequent and insightful forecasts based on dynamic models and continually tested business drivers that are aligned with your financial and business strategies.
Assess the impact of market fluctuations: Enable scenario modeling that incorporates external data and perspectives (e.g. commodity prices, GDP estimates, consumer sentiment, etc.) with internal performance history to navigate a dynamic and volatile market environment. Monitor changing market conditions and receive early warning of the impact to your business drivers and forecasted financial performance.
Drive integration and transparency: Leverage leading-edge technologies to mine the vast world of structured and unstructured data, incorporate insights into your financial planning process, and construct a single source of financial truth.
ENTERPRISE RESOURCE PLANNING ( ERP)
Our approach to technology ensures your universe of users have access to your data anytime, anywhere.
Enterprise resource planning (ERP) solutions offer an integrated view of your core business functions from supply (manufacturing, operations, and personnel) to demand (sales, service and fulfillment). ERP software allows cross-department data visibility and ensures a single source of truth for business operations: orders, production, supplier and vendor management, and financial management.
The decision to pursue a new ERP system is typically driven by an increase in the overall complexity of the business (be it planned or unplanned, sudden or cumulative) that in turn exceeds the organization’s current system capabilities.
Critical indicators of the need for your organization to invest in a new ERP system include:
New functional requirements– A new ERP system can help you manage the new requirements driven by business growth, M&A activity, and new business models
New technical accounting requirements– If revenue recognition, amortization and depreciation method requirements can’t be met with your current financial solution, look to an ERP system.
New global operations– If your multi-currency, multi-language and/or multi-entity consolidation requirements exceed your current system capabilities, seek a flexible, dynamic ERP system.
System integration requirements– The use of relevant, industry-specific third party applications requires easy integration with your general ledger – a new ERP can deliver seamless integration with multiple systems.
Compliance concerns– SOX compliance requires role-driven permissions, configurable segregation of duties, audit trails and other IT controls a standard general ledger can’t provide.
Just as you can count on technology to keep changing, you can count on Protominds to keep your technology up-to-date with our full suite of cloud solutions.
Cloud computing has become ubiquitous in our personal and professional lives with must-have applications like iTunes for entertainment, Google for document management and ADP for payroll. Research from the Cloud Accounting Institute reveals that after major growth in adoption rates over the past several years, cloud solutions are now considered mainstream and are in wide usage, with 73 percent of survey respondents indicating their companies currently use Software as a Service (SaaS) or Cloud solutions.
For the finance department, this means that numerous tools in the Cloud are available to streamline accounting functions — everything from GL to multi-currency transactions, equity administration to budgeting and forecasting. Cloud solutions offer the flexibility to be customized to work the way you do, and the capability to integrate with nearly any software package. Dwindling technology budgets mean businesses look to the Cloud for agile IT solutions without prohibitive upfront costs. They can be especially effective for fast-growing companies who want to keep their employees engaged with the latest technology tools and anytime, anywhere access to their business-critical applications. Cloud solutions are continuously and seamlessly updated ensuring you always have the latest technology and feature se