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  • Solutions for Transport-Challenged Populations

    Division Professional Division, Zycron February 7, 2020 Project Scenario: In collaboration with the City of Memphis, in March the University of Memphis submitted a proposal for the development of an AV demo that will take automation from sensory data-driven decisions to infrastructure-assisted autonomous driving. Vehicles acquire and transmit vehicular and pedestrian information beyond sensor range, enhancing collision avoidance and route adjustment. By leveraging existing routes and pathways, service capacity for transport-challenged elder and disabled communities expands while data transmission enhances infrastructural capability. Project Outcome: The goal is to enhance the safety of small, low-cost autonomous vehicles to boost mobility of transportation-challenged citizens such as the elderly and disabled. Enables their continued participation in their communities, Reduces their dependence on family or society, Helps them overcome daily life difficulties in reaching important destinations, such as medical appointments.

  • National Fire Operations Reporting System Improvements

    Division Professional Division, Zycron February 7, 2020 Project Scenario: Implementation of an Analytical Reporting System to improve City of Memphis Fire’s ability to assess the impact of response availability, capability, and effectiveness on the outcome of emergency events and improve firefighter and civilian safety through consistent and quality data. Project Outcome: Increase visibility & Traceability: Accurate and real-time information Assure adequate Fire response Assure safe, efficient, effective on-scene operations Minimizes occurrences: Firefighter injury/death Civilian injury/death Property loss Optimize fire operations

  • Reducing Audit Fees

    Division Donovan & Watkins, Professional Division February 7, 2020 Business Scenario: Our client had implemented FAS123, Shared Based Payments, at the instance of their CPA Firm. Our client did not have the technical ability or the accounting resources to prepare the footnote analysis for the second year, nor had they maintained the HR records in a manner amenable to audit. Project Scope: Our team of consultants worked directly with the client to develop a timeline for transitioning from Cash Basis Accounting to Accrual Basis. Phase 1) Updated HR Records. We created a schedule that showed options assignments, sales, and cancellation by each individual and then populated the schedule that would be auditable. Phase 2) Reviewed Black Scholes assumptions; review company valuation assumptions – FAS 123 recommends the use of various option pricing tools to ensure the liability and expense is fairly stated. Our client had chosen a simple Black Scholes model upon investigation, had misestimated variability in the year prior relative to industry comparable and had external validation of the value of the company which feeds into the option liability and expense valuation. We estimated the amount of the prior year misstatement and worked with the accounting firm to avoid restatement. Phase 3) Prepare current year disclosures and prepare FAS 123 “How To” documentation. Worked with the client and the auditors to reduce audit time and cost and prepared tutorials on how to use the FAS 123R spreadsheet tool to generate accounting disclosures. Clients Return on Investment: The client did not have the knowledge or time to create FAS123 schedules. We were able to provide the work in less than 100 hours. Prior year audit cost for FAS 123 ran about $11,000 and current audit fees were reduced for the FAS 123 to $2,000. In addition, the client received a working methodology to keep FAS123R support current and a methodology to generate footnote disclosures.

  • Building Rich Interior Hazard Maps for First Responders

    Division Professional Division, Zycron February 7, 2020 Project Scenario: In collaboration with the University of Memphis, 3D scanning is complete for seven facilities including the National Civil Rights Museum, Benjamin L. Hooks Central Library, and the Liberty Bowl Stadium. The resulting point cloud data has been processed to create geocoded 360-degree smart maps showing building interiors with objects of interest such as exits, stairways, and water connections clearly identified. A GIS app is under development as well, and a First Responders feedback session is scheduled for July 16 to gather suggestions for improving the maps and using them to navigate the facilities in emergency situations. Project Outcome: Enhances safety of First Responders and building occupants during emergency situations.Improves First Responder ability to navigate facilities and locate critical interior features such as exits, stairways, and so on.

  • Bolstering Solid Waste Management Efforts

    Division Professional Division, Zycron February 7, 2020 Project Scenario: The deployment of the ReCollect Solid Waste Management portfolio allows the City of Memphis residential customers to access and search for their solid waste collection days via www.memphistn.gov. Waste Collection Calendar: Recycling – cans, bottles, paper, containers, etc. Yard Waste – shrubbery, leaves, grass, etc. Garbage – bagged, wrapped, trash container Outside the Cart collection – semi-monthly service, tree limbs, furniture, car tires, bikes, etc. Waste Wizard – specific details on products, particles, object specific Waste Sorting Game – Where and how to dispose items Google Play and Apple Developer Programs – for Mobile App Users (Enrollment Required) Benefits: Schedule Specific Customer friendly Calendar allows residents to plan better Knowing When and Where to place What Items Eliminates/cuts down on Trash sitting curbside for longer than necessary Decrease vagrants and animal rummaging through Increased Waste Diversion Stats: 200 tons of diversion recycling post Go-Live (May-June) Improved Education with online monitoring Project Outcomes: Post Launch Statistics (May to mid-June): 2,822 Views 10,113 New Households added 591 Printed Calendars 8,009 First Time Visitors

  • Public Camera Implementation in Memphis

    Division Professional Division, Zycron February 7, 2020 Project Scenario: To replace antiquated and non-working cameras throughout the City of Memphis public facilities to include Community Centers, Senior Centers, Golf Courses, Libraries, Historic Properties, Museums, Nature Centers, Parks, Pools and Public Areas. Project Outcome: Improve City-wide safety 102 city-wide locations will have new cloud-based cameras camera footage will be accessible 24-7 days a week Improve security heighten security with more city-wide visible cameras the cameras are designed with new modern technology Crime prevention intrusion mobile alerts will be sent to designated personnel Memphis Police Department will have access to the cameras

  • Integration of Virtual Fax Server

    Division Professional Division, Zycron February 7, 2020 Project Scenario: Remove all stand-alone fax machines throughout the City of Memphis Setup end users to receive and send fax documents via electronic email Project Outcome: Reduces Costs No dedicated telephone lines No paper and ink Improves user productivity Send and receive docs – 24 / 7 (with network access) No waiting in line at fax machine Enhanced Security Sensitive documents are not left unattended at fax machine Outlook email is encrypted

  • Filling a Company’s Workday Project On Time and On Budget

    Division Professional Division, Zycron February 7, 2020 Client Challenge In the implementation stage of their Workday project, Extrinsic’s client, a Financial Services company in Texas, did not have a resource on their team who could provide configuration support for the Performance Management module, Calibration module and their current compensation structure for global entities or provide best practice guidance. The client came to Extrinsic with an urgent need to help them find this resource, as the Performance Management and Calibration modules were scheduled to launch in just one month with go-live right around the corner. Identified Resource Within just 24 hours, due to their vast network of established Workday resources, Extrinsic identified a specialized consultant with six+ years of proven experience in the Workday ecosystem. During that time, he completed three Global Performance implementations, including one Global Calibration project and multiple Advanced Compensation projects. He was also previously certified in HCM and Financials with additional experience in Reporting. Actions and Solutions Delivered Extrinsic’s consultant was brought on during the implementation stage just prior to go-live and provided a myriad of configuration support in the Performance Management module, Calibration module and the compensation structure for global entities, including support for compensation grades, bonus plans, and compensation plans. He created a working prototype of the Performance environment to review with the team during two weekly meetings. Results Extrinsic was able to fill an immediate gap on their client’s project team. Their resource was able to provide the support the client needed, while effectively streamlining and automating processes based on best practices in Workday Performance and Compensation. The project was finished on time and on budget.

  • Electronic Check Request Automation Processes

    Division Professional Division, Zycron February 7, 2020 Project Scenario: Automate accounting processes used by City of Memphis Accounts Payable Department. Processes include automating invoices and automating check requests. Project Outcome: Reduce costs Elimination of paper processing Increase visibility & Traceability Management dashboard providing KPI’s and metrics Ability to trace an invoice from beginning to end Ability to identify areas of improvement Vendors will have access to see their accounts Save time Improve vendor payment time Eliminate/Reduce manual errors Automate checks Automate invoicing

  • Multi-Currency ERP System Implementation

    Division Donovan & Watkins, Professional Division February 3, 2020 Business Scenario: Multi-Currency ERP System Implementation for an International Beverage Company. The Project scope was inter-company reconciliations. Project Scope: Our Senior Accountant was responsible for coordinating with each division accounting departments to understand their current intercompany billings. Phase 1) Our consultant interviewed clients with accounting personnel to determine accounting practices and business processes. They also reviewed existing accounting policies and procedures. Phase 2) Identified disconnects between actual processes and company procedures developing flowcharts to reflect correct method and timelines of intercompany billings. Phase 3) Implemented new intercompany billing methods and procedures. Clients Return on Investment: Month End close was streamlined to full accuracy and shortened the closing process by ten days. Thus saving the company exponentially on employee time and overtime wages.

  • Implementing Highly Functional GL System – Speeding up the Financial Reporting Process

    Division Donovan & Watkins, Professional Division February 3, 2020 Business Scenario: Our client had a troubled implementation of PeopleSoft General Ledger and nVision Reporting four years prior to our involvement. This client was unable to efficiently and timely extract data from the GL to perform financial reporting. Project Scope: Our team of consultants worked directly with the client to develop a timeline for a two-phase solution. Phase 1) Our team of consultants was tasked with streamlining internal controls within the GL module. They built new processes and procedures to ensure compliance with the newly incorporated internal controls during the project and reporting tool. Phase 2) Our team worked with the department managers to document and refine processes and procedures for financial reporting. This resulted in more efficient financial processes that were easy to follow and allow the employees to work with the nVision Reporting Tool. Nearly all the financial reports needed to be redesigned to reflect the new GL structure that was created by the project. Our consultants also trained the client staff in nVision so going forward they would be able to create financial statements. Clients Return on Investment: The project provided our client with a highly functional GL System speeding up the Financial Reporting Process, along with improving the internal controls and enhanced Financial Reporting capabilities. In the end, the client received more precise and timelier month-end Financial Reporting.

  • Enterprise Performance Management (EPM) through Business Planning and Analysis

    Division BGSF, IT, Professional Division, Whitepaper February 3, 2020 Driving business performance in today’s complex and volatile environment presents unique challenges for senior management, in general, and for corporate finance in particular. Because it is a rapidly evolving environment, there’s also increasing demand for finance leaders to lead business strategy in real-time, a shift towards performance insight and the higher value placed on an integrated business planning approach.EPM can be described as the ability of an organization to effectively manage the execution of its business strategy through improved management decision making. It is the integration of various methods that translate your plans into results. In other words, it is execution or the framework for managing your strategy. Since strategy is of paramount importance, it is senior management’s number one responsibility. EPM’s main strength is in achieving success through the adjustment in the execution of business strategies by aiding managers to sense earlier and to respond more quickly to uncertainty. It enables this by pushing accountability for results to the lowest possible organization levels.In a recent survey of over 1500 Accounting & Finance Executives, the following responses were found: Is the annual business planning process critical to your EPM process? YES – 90% / NO – 10% Is your company’s annual target setting process Top-Down or Bottom-Up? Top-Down – 60% / Bottom-Up – 40% Is your company’s Tactical Plan (Short-term ~ 3 to 5-year) managed differently than the Strategic Plan (Long-term ~ 5 to 10-year)? YES – 60% / NO – 40% Risk: Potential for Misalignment between Short- and Long-term strategies, including Key Assumptions and Metrics. The annual short- and long-term business planning processes are important tools in EPM. Characteristics of Top-Down Annual Business Planning Process Centrally developed short- and long-term business plans are issued to the company’s operating and support service organizations Usually involves fewer decision-makers in senior management and the process may require less time and resources to complete Characteristics of a Bottom-Up Annual Business Planning Process Budget planners from each operating and support service organization develop short- and long-term business plans after being provided guidance regarding the key assumptions (E.g. sales forecast, input prices) by company headquarters. Target setting is performed at lower levels of the organization resulting in wider ownership of the plan and greater transparency in the process May require several iterations of the plans to achieve alignment between plan owners and senior management. EPM’s impact on the organization Ultimately, EPM is not just about the numbers, but also about monitoring and managing the impacts of the performance management framework on teams of people throughout the organization who tasked with delivering on its strategies, plans, and objectives.

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