Virtus Industries’ blazing 2021 showed a 40% climb in revenue. But after acquiring new businesses, each with its own ERP and financial processes, Virtus leadership struggled to gain up-to-date insight into inter-company transactions. Further, with disconnected data, accurately updating the enterprises’ chart of accounts seemed impossible.
eCapital Advisors recommended a three-phase approach to streamline data. Implementing the robust financial software OneStream allowed Virtus to consolidate financial data from several ERPs. With another solution, the firm must transition all its companies to a new system.
By consolidating enterprise-wide ERP data, Virtus achieved a comprehensive, real-time view across the Virtus Industries portfolio. In addition, manual, Excel-based tasks no longer delayed month-end closing reports, Virtus slashed close cycle times, and more.