Contributors:
Cody Ernst, Manager, Accounting Advisory
Alex King, Senior Associate, Accounting Advisory
Cherry Bekaert provided comprehensive ERP and finance transformation guidance to a North Carolina-based law firm, as it balanced implementation with unexpected leadership changes.
Client Overview
Cranfill Sumner LLP is a North Carolina-based law firm with multiple offices across the state, as well as Washington DC. With approximately 110 employees and 50 partners, the firm provides legal services across a range of practice areas and relies on accurate financial data and operational visibility to support business decisions and partner performance.
Navigating ERP Rollout Obstacles and Knowledge Gaps
Cranfill Sumner initially engaged Cherry Bekaert to perform a finance and technology modernization assessment focused on improving access to data and reporting capabilities. The firm recently implemented a new enterprise resource planning (ERP) platform to gain greater visibility into financial and operational performance.
However, shortly after the engagement began, the scope expanded.
The firm's finance leader departed unexpectedly, leaving critical accounting knowledge undocumented and creating significant operational risk. At the same time, the organization was experiencing challenges related to the ERP rollout, including limited user adoption, insufficient training and difficulty accessing key information needed for financial management and collections activities.
Without a functioning finance leadership structure, and facing ongoing system challenges, Cranfill Sumner needed immediate support to stabilize operations while continuing its modernization efforts.
Providing Guidance on Daily Finance Tasks While Driving Transformation
Cherry Bekaert quickly adapted to the client's changing needs and expanded the engagement from an assessment focused on reporting and modernization into a comprehensive finance transformation initiative.
The team assumed responsibility for multiple finance functions, including:
- Fractional CFO and controller leadership
- Accounting co-sourcing and day-to-day finance operations
- Financial planning and analysis (FP&A)
- ERP optimization and process improvement
- Project management for strategic finance initiatives
Cherry Bekaert became the firm's de facto finance department, performing activities such as:
- General ledger accounting
- Bank reconciliations
- Accounts payable
- Month-end close management
- Budgeting and forecasting
- Cash flow planning
- Banking and credit facility support
- Documentation of finance processes and procedures
In addition, Cherry Bekaert developed a custom reporting application that provided attorneys and firm leadership with visibility into work-in-progress (WIP), accounts receivable and collections performance. The application became a key management tool used regularly to monitor performance and accelerate collection activities.
The Results: A Stronger Finance Foundation
Within the first several months of the engagement, Cherry Bekaert helped Cranfill Sumner stabilize finance operations and create a stronger foundation for long-term growth.
Key outcomes included:
- Transitioned finance responsibilities with minimal business disruption following the departure of key personnel
- Established documented accounting processes, month-end checklists and operational job aids
- Improved the accuracy and reliability of financial reporting through more rigorous close and reconciliation procedures
- Developed new budgeting, forecasting and cash flow management tools
- Increased visibility into WIP and accounts receivable through a custom reporting application
- Supported collections efforts that contributed to a reduction in accounts receivable of approximately $1.5 million
- Advanced ERP optimization initiatives designed to improve efficiency and user adoption across the organization
As the engagement progresses, the team will begin leading efforts to optimize the firm's ERP environment and address ongoing system challenges. This includes coordinating training, identifying process improvements — upgrading the time and billing function, consolidating the Payable application, and installing integrated e-billing application — and guiding strategic enhancements to increase adoption and functionality.
The engagement continues to help Cranfill Sumner build a scalable finance function while maximizing the value of its technology investments.
“We have engaged Cherry Bekaert to align our financial strategy and technology investments with a future‑ready governance and growth model. Their work has enhanced financial visibility and informed thoughtful optimization recommendations that allow us to deploy capital and resources with greater intention as we plan forward with fiscal responsibility and an innovation focus.
Through sophisticated reporting, modeling, and advisory support, Cherry Bekaert enables insight‑driven decision‑making that connects today’s investments to long‑term strategy. More than an advisor, they are a true strategic partner, bringing experience, perspective, and technology‑enabled insight that allows us to lead proactively and with confidence.”
- April Pinder, CEO
