Thirdware Solution Inc., a provider of digital transformation solutions based in India with an office in Livonia, is announcing a major partnership with Maryland’s Strategic iQ Solutions, a company that offers enterprise performance management and business process integration solutions, to provide high-level financial assistance to clients, especially CFOs.
The partnership will create an organization that can deliver full-service solutions for CFOs, and the combination, they say, leverages combined industry experiences, functional knowledge, and technical expertise to identify, recommend, and develop full lifecycle solutions for key areas of finance and accounting such as financial consolidations, financial planning and analysis, and profit and cost management.
The new team will further leverage its expertise in the manufacturing sector and automotive industry coupled with a global footprint to serve companies that do business internationally.
“Strategic iQ brings credibility and deep functional knowledge in the area of enterprise performance management,” says Bhavesh Shah, CEO of Thirdware. “This, combined with Thirdware’s 25 years of experience in successfully implementing EPM solutions globally, has the potential to bring world class solutions that can be truly transformational to the office of the CFO.”
The range of innovative solutions includes helping clients streamline the global month-end close and financial consolidations process while enforcing optimal controls and data quality accuracy, Shah adds, by leveraging its ERP, EPM, and RPA expertise. “We can design and build robust end-to-end solutions that achieve optimal efficiency and effectiveness,” he says.
The financial planning and analysis space offers significant opportunities to aid companies in their attempt to integrate their long-range plan, operating plan, and forecast to manage risk effectively, forecast more accurately, and reduce cycle times, according to the companies, which say they have the framework and toolkit to implement world class driver-based planning solutions that integrate operational data with financial planning systems and processes.
Another key area of focus for the partnership is profit and cost management, which they say is an underserved function and can unlock significant business value. With the ever-changing supply chain landscape and international trade laws, companies need to effectively manage material and other manufacturing costs, critical to achieving optimal profit margins. The partnership offers its clients technical and functional solutions to integrate automated profit and cost management solutions with their global financial planning systems and processes.
The partnership will expand on its automotive industry heritage. Both organizations bring extensive real-world experience working with OEMs and part suppliers, including the leading of large-scale business transformation initiatives, supply chain cost optimization, and product distribution expertise.
Finally, the partnership expects to benefit from its global reach and footprint that will be positioned to serve international companies.
“As we embark on this journey, we are very excited to partner with a leader in the technology services space like Thirdware,” says Ken Dowd, co-founder and principal of Strategic iQ. “There is an overwhelming conviction that the combined team will offer our clients technical and functional expertise coupled with proven solutions that few professional service organizations can match.”