Key Takeaways
Multi-ERP environments make financial consolidation slow and error-prone.
UBIX can help automate multi-ERP financial consolidation without an ERP migration.
UBIX’s no-code platform reduces reliance on IT and consultants.
Why Multi-ERP Environments Make Financial Consolidation Difficult
It is not uncommon for large companies to have multiple Enterprise Resource Planning (ERP) systems. Whether because of acquisitions, departmental specialization, or regional deployments, a multi-ERP environment can create challenges such as data fragmentation, operational silos, and high maintenance overhead.
Multi-ERP environments can also make financial consolidation inefficient. Reconciling financial records, mapping local charts of accounts to parent company requirements, and managing intercompany transactions become painful, requiring tedious manual spreadsheet work and carrying a high risk of errors.
Many companies settle for manual workarounds to consolidate financial data across multiple ERP systems. But it doesn’t have to be this way: automation can unify that data without a costly, years-long ERP migration. Recently, Conectrix helped one of its customers, Technicorp International II, Inc. (TCI), automate multi-ERP financial consolidation through UBIX.
Meet TCI: A Multi-Entity Manufacturer with Three ERP Systems
TCI is a vertically integrated designer and manufacturer of high-reliability, ultra-miniature frequency control components, ceramic hermetic packaging, and metal components for mission-critical applications. Its products are used in the aerospace and defense, medical, industrial, and communications industries.
Acquired by private equity firm Astor Place Holdings in 2021, TCI is a holding company made up of three synergistic operating entities, each responsible for manufacturing and providing unique products:
Statek Corporation (“Statek”)
Greenray Industries, Inc. (“Greenray”)
Advanced Technical Ceramics Company (“AdTech Ceramics”)
This structure allows TCI to serve a wide range of customers across industries. However, because each company uses a different legacy accounting and ERP system, the finance teams face a significant challenge.
The Cost of Manual, Spreadsheet-Driven Reporting
Each of TCI’s companies used a different ERP system, each with its own chart-of-accounts structure, intercompany transactions, and equity eliminations. As a result, financial reporting was far from ideal.
The main problem was time. On average, finance teams spent an entire week each month consolidating financial data across the three legal entities. The downstream consequences of this wasted time can be significant, tying up skilled finance professionals in manual, repetitive work that could be spent on analysis and strategy. Controllers also had to wait on IT instead of focusing on financial analysis, because traditional business intelligence and data warehouse initiatives depend on scarce technical resources.
Several reporting processes were also still manual. Portfolio-level financial reports for the PE firm and TCI leadership were built by combining outputs in spreadsheets and then compiling the results into presentations.
This reliance on manual, spreadsheet-centric processes extended the monthly close, increased reconciliation risk, and made it difficult to deliver timely, accurate financial statements to executives and the board.
The Solution: Automating Consolidation with UBIX
TCI was acutely aware of these challenges, but it wasn’t sure what the best course of action was. One solution TCI considered was an ERP migration; however, this would have taken years and cost millions or even tens of millions of dollars. Another option was purchasing a new cloud data storage system with reporting capabilities.
Unsure how to proceed, TCI turned to Conectrix, its technology advisory company, which introduced its leadership to UBIX, a pioneer at the intersection of generative AI, machine learning, reinforcement learning, and agentic AI.
How UBIX Unified TCI’s Financial Data Without an ERP Migration
UBIX offered a way to automate multi-ERP financial consolidation without a costly migration or a separate cloud data storage system, thanks to its own built-in analytical data store.
UBIX’s platform connects directly to the multiple ERP systems across TCI’s portfolio, standardizing general ledger data regardless of source format, automating consolidation logic, and generating consolidated balance sheets, income statements, and cash flow statements.
The platform also enabled controllers and finance teams to build AI-powered financial consolidation applications in a secure, visual, no-code environment.
Because the platform operates in a no-code environment, TCI’s users—regardless of technical proficiency—can continuously modify business rules, reporting logic, and AI-powered analytics, accelerating time-to-value while dramatically reducing dependence on IT and external consultants.
Behind the Build: Connectors, Mapping, and Reporting
UBIX built custom connectors for the legacy ERP systems that lacked APIs. The UBIX team also built connectors that used two VPN technologies to tunnel into TCI’s on-premises environment and access data from each of the three ERP systems.
With the data connected, UBIX’s solution mapped general ledger entries to financial statements using a combination of manual and large language model inputs.
In addition to providing consolidated reports across all three ERPs to support balance sheets, income statements, and cash flow statements, UBIX added key performance indicators and other reporting features that allow the PE firm and the sales team to identify cross-sell opportunities.
UBIX can also write updated data back to the ERPs and to TCI’s new HubSpot deployment.
More Ways UBIX Supports Finance Teams
Beyond automating multi-ERP consolidation, UBIX’s data intelligence cloud solution can deliver significant value for organizations facing financial reporting challenges, including:
Transparent audit trail and governance: Capture every transformation, consolidation adjustment, and elimination within repeatable workflows that simplify audits, improve governance, and increase confidence in reported financial results.
AI-powered financial analysis: Perform natural-language analysis, investigate variances, and model “what-if” scenarios to understand how acquisitions, organizational changes, or business events affect consolidated financial performance before decisions are made.
Foundation for AI and advanced analytics: A unified financial foundation enables AI-powered financial planning and analysis, forecasting, reporting, and operational intelligence, all on one secure, no-code platform.
Solve Your Financial Reporting Challenges with Conectrix
As your personal technology advisor, Conectrix strives to connect you with the best solution for your technology-related financial challenges, drawing from a portfolio of more than 400 top-tier technology providers.