In this two-part blog series, we’ll explore the technology that is revolutionising customer service delivery in government. In our first installment, we examine the technology transformation from the perspective of back-office processes.
With offices in the US and across Europe, Relayr provides IoT technology for industrial partners. Through a series of acquisitions, they have achieved a strong growth trajectory, but with acquisitions come challenges – they had no centralized system for accounting, no integration, and no connectivity. They identified the need for a digital transformation to bring together real-time financial information from disparate accounting systems across continents, as well as provide real-time visibility into their financial data. “We determined that finding efficiencies in the operations was the quickest way for Relayr to realize necessary revenue growth,” says Abdul Iqbal, Relayr Consultant. “We needed to put those efficiencies in place immediately in order to reach revenue milestones for 2025.”
To address their issues, Relayr considered three solutions, among them Dynamics 365. HCL-PowerObjects was nominated by Microsoft to represent their software solution, and we were able to demonstrate potential customizations in Dynamics 365 to meet statutory requirements for reporting, as well as for its multicurrency and multi-accounting capabilities.
Once Relayr selected HCL-PowerObjects, we collaborated to break the work into three phases. The timeline for Phase 1 was extremely tight, with hard deadlines that were necessary for end-of-year accounting and financial reporting, so work started immediately. But this was 2020 and a pandemic was raging, so we had to pivot nimbly by meeting virtually using Microsoft Teams.
“I believe it was the first implementation ever for Microsoft that was done 100% remotely,” says Joel Jeselsohn, CFO at Relayr and Executive Sponsor of the project. “And while we did face certain challenges – like screen fatigue and competing time zones, they were offset by our effective partnership with HCL-PowerObjects and the seamless connectivity of the Microsoft stack, particularly Teams.”
And so, for several months, colleagues and partners from around the globe met remotely to deliver a full technology transformation, including a late-stage upgrade to the latest Dynamics version, a transition that was guided smoothly by the experienced team from HCL-PowerObjects. Relayr’s accounting team is thrilled with the end results. “We've certainly grown because before the project almost all of our accounting was outsourced,” said Bruno Fernandes, Corporate Controller at Relayr. “One of the objectives was to bring it inhouse so that we had better visibility. Not just because there were four disparate systems, but also because we wanted to have the data at our fingertips and now we do.”
With Dynamics 365 Finance in place, Relayr now has meaningful P&L data in real time. HCL-PowerObjects was able to automate the data consolidation occurring across the four businesses, as well eliminate all of the complex spreadsheets, allowing the accounting team to close the books much later and still report on time. “The value-add that we as a financial organization can bring to the company is through analyzing the data and providing actionable data to the decision makers rather than just dealing with time-consuming data entry,” says Jeselsohn of the critical impact HCL-PowerObjects delivered. “And that's probably the most important achievement we were able to get with HCL-PowerObjects and Microsoft.”