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PhoenixInternationalCaseStudydoc - Microsoft Corporation

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PhoenixInternationalCaseStudydoc - Microsoft Corporation

     Project-Accounting Solution Enhances Data

    Visibility for Deep-Sea Recovery Company

    “The owners of Phoenix International are extremely

    Overview impressed with the amount and accuracy of the data Country or Region: United States

    Industry: Professional servicesother that Microsoft Dynamics SL generates so quickly.”

    professional services Lawrence Mocniak, CFO, Phoenix International Customer Profile

    Phoenix International provides underwater

    engineering services worldwide. The Phoenix International is an engineering services company that company serves oil and gas, ocean

    research, documentary, marine insurance, engages in underwater recovery operations worldwide. The and entertainment industries. company needed to rapidly and accurately estimate job costs and

    Business Situation comply with regulations surrounding government-agency bids, while Phoenix International outsourced its

    supporting an employee ownership initiative. Relying on an accounting to a firm that used QuickBooks.

    However, to accurately estimate costs and outsourced accounting firm that used QuickBooks gave Phoenix maintain government compliance, Phoenix

    International needed more visibility into its International little real-time visibility into financial data and financial data. provided limited data analysis capabilities. To develop a better

    Solution project-accounting solution, Phoenix International worked with After migrating 10 years of data from

    Microsoft? Gold Certified Partner SSi Consulting to implement QuickBooks to Microsoft Dynamics

    ? SL, the Microsoft Dynamics? SL. Now, Phoenix International can quickly company could better analyze data to and accurately measure job costs, fulfilling the company’s vision to predict costs and demonstrate compliance

    with federal regulations. become employee owned and giving the company a competitive

    edge in both the commercial and government sectors. Benefits

    ? Ease project-accounting tasks with

    familiar tools

    ? Improve reporting and auditability

    ? Drive decision making with current

    information

Project-Accounting Solution Enhances Data

Visibility for Deep-Sea Recovery Company

    Situation financial companies require timely financial “The data migration “With Deltek, you can’t “With Deltek, you can’t Diving to a depth of 1,786 meters, the reports to review the success of the business. wasn't hard. Once I had create customized create customized underwater recovery team from Phoenix International plunges into the Java Sea. The Phoenix International needed accounting the data from the queries because the queries because the team’s mission is to recover two black boxes support that offers:

    outside accounting firm, software only enables software only enables from a passenger plane that crashed on its ? In-depth analysis of financial data. way to Manado, Indonesia. After 109 hours of ? Rapid, accurate data reporting. it took me a week to information to be pulled information to be pulled billable work on the Manado plane crash ? Proven ability to meet stringent federal-project, the team successfully retrieves the migrate the data to in predefined formats. in predefined formats. auditing standards established by the black boxes from the crash site using a DCAA. Microsoft Dynamics SL Plus, the cost of Plus, the cost of remotely operated vehicle. Phoenix International provides such services to both 6.5, and I didn’t lose any implementation is too implementation is too Phoenix International decided to research commercial companies and government project-accounting solutions that could grow hhigh."istorical data during high.” agencies around the world. with its business and provide the needed visibility into financial data. the process.” Lawrence Mocniak, CFO, Phoenix Lawrence Mocniak, CFO, Phoenix The underwater recovery business involves International International many variables that cause job costs to Lawrence Mocniak, CFO, Phoenix Solution fluctuate. Every project requires a unique International team of specialists, each with different pay Phoenix International hired Lawrence rates. Recruiting highly skilled contractors, Mocniak as CFO to create a solid basis for transportation to and from the site, renting financial growth. With years of experience additional equipment, and time spent on the implementing accounting software, Mocniak job also adds to the complexity of project-understood the best practices for project accounting processes. accounting. Mocniak explains, “For 10 years,

     Phoenix International ran blind on Phoenix International engaged an outside QuickBooks, so I chose a software platform accounting firm that used QuickBooks that would heighten visibility into project-software to manage project financials. But accounting data.” this model provided low visibility into financial data and limited data analysis capabilities. Mocniak selected Microsoft Dynamics? SL The outsourced accounting firm sent sporadic because of its superior ability to analyze data financial reports that contained inaccuracies, and flexibility to resolve problems within the preventing quick and accurate job cost existing outsourced model. “Having used estimates. These issues became more Oracle at previous companies, I knew it would prevalent when Phoenix International be cumbersome and require full-time conducted business with the government. maintenance,” explains Mocniak. “With Visibility and data analysis capabilities fell Deltek, you can’t create customized queries short of compliance standards set by the because the software only enables Defense Contract Audit Agency (DCAA), information to be pulled in predefined resulting in slow and painful government formats. Plus, the cost of implementation is audits. too high.” In addition, Phoenix International hoped to Data Migration support an employee stock option plan (ESOP) To implement Microsoft Dynamics SL, that would prepare the company for Phoenix International contacted Microsoftemployee ownership. When a company ? adopts an ESOP initiative, independent Gold Certified Partner SSi Consulting to assist

    in deployment and customization.

    “The data migration

    wasn't hard. Once I had Business Decision Makers

    Phoenix International enjoys better data The first phase of implementation involved ? (BIO) for Microsoft the data from the analysis capabilities with Business migrating 10 years’ worth of transactional Dynamics SL, providing the company with Information Optimizationoutside accounting firm, data from QuickBooks to Microsoft Dynamics relevant information about its market space. SL so that Mocniak and the accounting staff “BIO is predominantly rolled out to my it took me a week to could use historical data in their analysis and directors and my executives. I've set up their

    migrate the data to cost estimates. “The data migration wasn't screens based on regions, so they can look at hard,” says Mocniak. “Once I had the data information pertaining only to their region,” Microsoft Dynamics SL, from the outside accounting firm, it took me a explains Mocniak. “As CFO, I use BIO as a

    week to migrate the data to Microsoft cash management tool to monitor accounts and I didn’t lose any Dynamics SL, and I didn’t lose any historical receivable for invoicing and collections, to historical data during data during the process.” manage accounts payable for weekly

     payments due, and to track regional profit the process.” Using the cut, copy, and paste feature in and loss statements.”

    Microsoft Dynamics SL, Mocniak mapped the Lawrence Mocniak, CFO, Phoenix

    transactional data from QuickBooks to the Mocniak can also enter and analyze data for International new chart of accounts in Microsoft Dynamics commercial or government jobs using BIO for SL. Microsoft Dynamics SL, helping decision makers rapidly compare how much business Accounting Staff each sector generates. Decision makers can With Microsoft Dynamics SL, the accountants use this data to analyze trends specific to at Phoenix International use ImageLink and each sector and create historical rate AnyView Explorer for Microsoft Dynamics SL structures to estimate costs for government-as complementary tools for financial analysis. contracted projects. ImageLink attaches images or scans to every transaction or purchase order recorded in

    Microsoft Dynamics SL, while AnyView gives Benefits accounting clerks the ability to isolate and Phoenix International struggled to handle compare data points in the general ledger for stringent accounting processes and support ?, reports. With integration between Microsoft aggressive growth. With Microsoft Dynamics accountants can quickly import and export Dynamics SL and Microsoft Office ExcelSL, the company maintained its competitive data to edit and update financial information,

    edge by easing project accounting, improving which simplifies the auditing process.

    auditing processes, and gaining insight to

    make better business decisions. Project Managers

     SSi Consulting created personal views in

    States Mocniak, “The owners of Phoenix Microsoft Dynamics SL for each department

    International are extremely impressed with so that the user interface would retain the

    the amount and accuracy of the data that look of familiar programs. For example, SSi

    Microsoft Dynamics SL generates so quickly.” Consulting customized a “project net profit”

     screen so that project managers can drill

    Ease Project-Accounting Tasks with down into each project to view costs by

    Familiar Tools project line item, pull up supporting

    Microsoft Dynamics SL works with other documentation with ImageLink, and create

    Microsoft software that Phoenix International project status reports. Project managers can

    employees are already familiar with, so it also use this screen to analyze a standard

    does not disrupt day-to-day activities. budget versus an actual report.

    “Our last system audit

    was painless, and the

    Accounting staff can import and export data Drive Decision Making with auditor was very from Office Excel to Microsoft Dynamics SL, Current Information impressed with our without learning a new program or With BIO for Microsoft Dynamics SL, Phoenix introducing errors. With the project-International can finally take advantage of setup. He found the accounting tools provided by Microsoft the value of its historical data. “I can attach

    ease of accessing Dynamics SL, accountants, project managers, each project to the master contract and see and executives can use the software to drive how much revenue each contract generated documentation valuable productivity in their everyday tasks. year over year,” explains Mocniak. “It gives

     me insight as to whom my top 10 customers when tracing Improve Reporting and Auditability are each year, where our market is, and transactions through the After deploying Microsoft Dynamics SL, the where our revenue is coming from every accounting staff streamlined operations by year.” Knowing what the company’s cash life cycle of the automating manual processes and providing position is at any time provides Mocniak with

    accounting system.” easy access to relevant data. This made it more flexibility in managing funds on a daily, possible for the company to offer an ESOP. weekly, and monthly basis. Lawrence Mocniak, CFO, Phoenix We were able to quickly provide information, International such as bid statements for government

    versus commercial jobs, balance sheet trends, cash flow trends, and customer history to interested companies,” states

    Mocniak. Now, financial reporting only takes

    the accounting staff one-third of the time it

    took prior to the deployment. Microsoft

    Dynamics SL makes it easy to capture cost

    pools, overhead rates, and general and

    administrative rates.

In addition, financial auditability has

    dramatically improved by extending Microsoft

    Dynamics SL with ImageLink. “Because we

    scan our documents at the point of entry into

    the system, we’re not rummaging through file

    cabinets when auditors ask for

    documentation support. We click on the link

    and bring it up online.”

Phoenix International uses Microsoft

    Dynamics SL to pass DCAA system audit with

    ease. “Our last system audit was painless,

    and the auditor was very impressed with our

    setup. He found the ease of accessing

    documentation valuable when tracing

    transactions through the life cycle of the

    accounting system,” says Mocniak.

    For More Information Microsoft Dynamics For more information about Microsoft Microsoft Dynamics is a line of integrated, products and services, call the Microsoft adaptable business management solutions Sales Information Center at (800) 426-that enables you and your people to make 9400. In Canada, call the Microsoft business decisions with greater confidence. Canada Information Centre at (877) 568-Microsoft Dynamics works like familiar 2495. Customers who are deaf or hard-of-Microsoft software such as Microsoft Office, hearing can reach Microsoft text telephone which means less of a learning curve for your (TTY/TDD) services at (800) 892-5234 in people, so they can get up and running the United States or (905) 568-9641 in quickly and focus on what’s most important. Canada. Outside the 50 United States and And because it is from Microsoft, it easily Canada, please contact your local works with the systems that your company Microsoft subsidiary. To access information already has implemented. By automating and using the World Wide Web, go to: streamlining financial, customer relationship, www.microsoft.com and supply chain processes, Microsoft

     Dynamics brings together people, processes, For more information about Phoenix and technologies, increasing the productivity International products and services, call and effectiveness of your business, and (301) 341-7800 or visit the Web site at: helping you drive business success. www.phnx-international.us

     For more information about Microsoft For more information about SSi Consulting Dynamics, go to: products and services, call (800) 886-www.microsoft.com/dynamics

    3369 or visit the Web site at:

    www.ssiconsulting.com

     Software and Services ? Solutions

    ? BIO for Microsoft Dynamics SL 6.5 ? Microsoft Dynamics

    ? Microsoft Dynamics SL 6.5

    ? Microsoft Office Partners This case study is for informational purposes only. ? Microsoft Office Excel ? SSi Consulting MICROSOFT MAKES NO WARRANTIES, EXPRESS OR IMPLIED, IN THIS SUMMARY. Document published May 2008

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