Post IPO, Ceridian Streamlines Chart of Accounts, Marking a New Day for Accounting

While it’s common to implement an ERP system in preparation for an IPO, embarking on an ERP project right afterwards is less so. But to grow rapidly and globally without increasing its accounting overhead, Ceridian’s finance team knew it could be more efficient with how it was running its ERP. The Minneapolis-based HCM software provider, known for its flagship Dayforce product, had two ERP systems running financials after its 2018 IPO. Ceridian’s consolidation project offers lessons on the discipline required in a successful ERP migration.


Ceridian

Company

Ceridian

Location

Minneapolis, Minn.

Revenue

$1 billion

EMPLOYEES

1,000+

Industry

Software

NUMBER OF SUBSIDIARIES

35

NETSUITE PRODUCTS IMPLEMENTED

NetSuite OneWorld
NetSuite Revenue Management
NetSuite SuiteBilling
Advanced Customer Support

IMPLEMENTATION PARTNER

NetSuite Professional Services

クラウドERPがどのようにあなたのビジネスを効率化できるのかをご確認ください

14日間無料トライアル

“We have a grand vision for Dayforce and where we can take it, and in order to scale, we had to get rid of complexity.” Jeffrey Jacobs, Senior Vice President, Global Head of Accounting and Financial Reporting, Ceridian

A Master Class in GL migration

Moving to one ERP
Ceridian used legacy on-premises GL software, integrating it with NetSuite, which was managing financials for its Dayforce business and functioning as a subledger. It decided to migrate everything to NetSuite OneWorld because complex Dayforce billing processes were already customised on that platform. That meant migrating five years of GL data.
Simplifying the chart of accounts
The heart of the project was a redesign of Ceridian’s chart of accounts—consolidating 117 company codes down to 35 NetSuite subsidiaries, 3,000 departments to 850 and 250 product lines down to less than 50 NetSuite classes—an archetype of accounting discipline that set the company up for a smooth migration and massive efficiency.
Accounting aligned with business strategies
The go-live in 2020 went smoothly. As revenue has grown from $825 million in 2019 to projected $1 billion in 2021, the more detailed chart of accounts matches and aligns with business and growth strategies. Reporting is faster and easier, there’s less to sort through and less duplication, and it’s easily customisable by role and department.
Automating revenue recognition next
The company plans to automate more accounting processes with NetSuite by implementing SuiteBilling and Advanced Revenue Management. Additionally, NetSuite can easily be provisioned for current and future acquisitions.

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