Case Studies
Bullpen delivers results across multiple industries and client demographics.
SOX & Risk Advisory
A $500M Emerging Growth Company in the semiconductor industry exceeded the JOBS Act market cap exemption mid-year and required a full SOX implementation is a condensed time-frame.
Bullpen deployed a team, reporting directly to the CFO and Audit Committee, to manage the SOX compliance program including:
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Installation of a leading SOX-404 SAAS solution (2020 Control)
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Training of company personnel
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Performance of process walkthroughs, design and implementation evaluations, operating effectiveness testing and deficiency remediation for all business and information technology processes and controls
A pre-IPO, pre-revenue clinical-stage biopharmaceutical company with operations in the US and Russia was seeking a program to evaluate and enhance its financial processes and formally document its internal controls in advance of an initial public offering.
Bullpen consultants implemented a compliance program in direct alignment with SOX-404 & PCAOB requirements through the 2020 Control platform, allowing company personnel to manage the identification and recording of its financial reporting risks and related controls. Post IPO and with a risk and controls baseline established in 2020 the Bullpen team facilitated the company’s transformation to an audit-ready SOX-404 organization.
After becoming a public company through a reverse merger, this commercial-stage medical technology company required a structured Sarbanes-Oxley compliance program that identified its financial reporting risks, mapped those risks to necessary internal controls and established practical remediation activities to address its material control weaknesses.
Bullpen consultants developed a compliance program, leveraging SAAS solution 2020 Control, that aligned directly with SOX-404, PCAOB and COSO requirements. In this process Bullpen trained company personnel on SOX standards while recommending and implementing sustainable remediation activities.
Post IPO, this $400M fast growing fitness center franchisor sought a technology solution and advisory partner to establish a flexible and sustainable SOX-404 compliance program.
Bullpen consultants led the company’s implementation of SAAS solution, 2020 Control. In addition to ensuring full PCAOB and COSO compliance Bullpen personnel integrated specific risks and controls raised by the company’s external auditors into the program. Bullpen also facilitated controls discussions with multiple company vendors integral to the company’s controls over financial reporting.
Data & Business Intelligence
An acquisitive SAP manufacturing company with operations in North America, Europe, Asia and Australia needed to address segregation of duties concerns based on its SAP role definitions and user profiles.
Bullpen data experts compared transaction codes, including custom “Z” codes assigned to the company’s 2000+ users and 100+ roles to standard SAP segregation of duties conflicts to identify high risk combinations in order to prioritize SAP role remediation. Bullpen also led the documentation and testing of compensating business process controls for each high risk combination that the company could rely upon during the remediation period.
A global Clinical Research Organization (“CRO”) managed hundreds of active projects through unique excel spreadsheets resulting in difficult-to-detect revenue calculation errors that required significant internal and external hours and expense to audit.
Bullpen consultants developed a centralized database to aggregate task level budget, unit and milestone achievement information for all active projects and migrated all active projects to that solution. The database served as a reconciliation point for the financial analysts managing their respective projects and a “source of truth” for the external auditors that significantly reduced time required to audit these projects. The design of the database acted as the blue-print for the internally developed solution that the company eventually migrated to.
A multi-billion dollar revenue company assembled through several large scale acquisitions struggled to control its 20,000 employee, vendor, contractor and customer accounts’ access to its 30+ networks post-mergers.
Bullpen data specialists led the project to identify thousands of dormant accounts for disablement, assign unique IDs to active network accounts and implement a process to systematically disable accounts for terminated employees triggered through the company’s HRIS system.
Accounting & Reporting
A publicly traded, ISO9001 certified manufacturing company required immediate senior level finance and accounting expertise during the transition of its Corporate Controller position.
Bullpen resources filled the interim controller role and led the successful quarterly SEC filings for the company. Within this brief period Bullpen also managed the design of the company’s BPC consolidation system and streamlined the overall financial close process.
A pre-revenue Emerging Growth Company needed to develop a financial, planning and analysis function to better manage its overall financial budgeting and forecasting.
Bullpen industry and functional experts worked collaboratively with the company’s Chief Financial Officer and senior operations management to define its FP&A objectives, model its key reporting areas and project manage the migration of the company’s FP&A model to a SAAS platform.
Custom Solutions
A $2.5B private equity backed, global company servicing the biopharmaceutical industry from Clinical Research through Commercialization sought to reduce its cost of debt through multiple Asset Backed Lending programs with its banking partners. However, the company did not have a central repository of its customer working capital activity.
In a 6 week period Bullpen Solutions developed and deployed a secure web-based solution to aggregate and translate customer working capital data from the company’s multiple ERP systems, in 30+ currencies from 100+ reporting entities.
A global healthcare services organization with a multi-year planned PeopleSoft Time and Labor roll-out needed a short-term solution for resource and project time tracking outside of the US to function until the roll-out was completed.
Bullpen Solutions custom built a secure, web-based time tracking system for client engagements and related resources. System functionality quickly expanded to include generation of engagement cost estimates, employee vacation tracking and full integration to multiple systems for client invoicing.
This leading global law firm with offices in Boston, Chicago, Hong Kong, London, New York, San Francisco, Seoul, Shanghai, Silicon Valley, Tokyo, and Washington, DC required enhanced reporting of its client held escrow balances that its matter management system was unable to accommodate.
Bullpen Solutions designed and implemented a reporting database, utilized since 2010, to generate matter-level, client escrow statements at monthly, quarterly and annual frequencies.