“We hadn’t ruled out an ERP implementation and were pretty far along looking at other solutions and then Catalyst came through at the last minute. It is a place where one can get a full picture of Targeted PetCare. One source of truth,” says CFO Deepak Chichili. “It has all the trial balance data. It allows us to create a uniform P&L across all the operating companies, but also leave them in their native structure, so each op-co can run the business the way they want to.”
“The second part that really sold me,” Chichili continued, “Is that it’s financial, but Catalyst also has cubes like profitability cubes, which allow you to drill down to the customers and the SKUs. That can be very useful for the commercial team and operations.”
The EBM Software team began working with Targeted PetCare on an implementation of the Catalyst FP&A software suite. While typical Catalyst implementations run 8-12 weeks, the EBM team worked with TPC to scope a more conservative 3-6 month phased rollout plan, to accommodate some unique challenges on the client side.
“I was extremely skeptical of that timeframe,” says Vice President of FP&A Eric Zamora. “I’ve, frankly, never seen a system get up and running that fast. If you were to take any of my experiences before, I’d say 6 months was extremely fast, and they actually slowed it way down for us. But I got more comfortable with it as time went on and I saw the questions they were asking and how they were onboarding the companies and the financial statements. I told Deepak, I’ll be surprised if they hit the 6 months, and I’m eating my words. So, I’m very impressed from that standpoint.”
With the system in place, TPC joined the experts from the EBM Software team for a 3-day training session to learn their new tool from top to bottom.
“The first thing that really struck me, and really got us off to a good start, is that I could tell Catalyst was built by finance people,” says Zamora. “The team figured out all the good things that finance people require, whether it’s FP&A or accounting, and then figured out how to build it into a tech stack. Whereas, when we talk about some of the other systems I’ve used, I’m not sure finance was their forte. They were these big companies that built big databases, and finance was one of those things they just kind of, for lack of a better term, tacked on. It wasn’t their reason for being.”