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Pepperstone Case Study

Major Challenges > Our approach > Result (Outcome):
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Founded in 2010, Pepperstone entered the industry with a mission to create a tech-enabled trading platform for ambitious traders globally. Currently, they have operating offices in Australia, Bahamas, Cyprus, Dubai, Germany, Kenya, and the UK. Pepperstone, the esteemed financial services company, invites users to access a vast array of trading opportunities. With their cutting-edge platforms, tools, and instruments, traders can confidently explore the global markets, including Forex, Crypto, Indices, Commodities, and Shares. Backed by unrivaled speed, reliability, and deep liquidity options, Pepperstone empowers individuals to shape their own trading strategies in the world of CFDs (Contract For Difference). Prepare to embark on a limitless journey of financial possibilities.

Transport-management

Industry

Financial and Trading platform

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Previous System

Transactional database in place to maintain customer transactions and their main platform

Dynamics-365-Field-Service

Services provided

Implementation of Dynamics 365 Finance and Operations (F&O) along with the procurement module for Pepperstone

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Timeline

ongoing

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Number of Users

/

Major Challenges:

Pepperstone, a financial services company, approached DHRP for an end-to-end finance implementation. They needed a system that could handle multicurrency and intercompany transactions, provide robust reporting capabilities, and ensure compliance with multiple legislations and regions.

One of the major challenges faced by Pepperstone was the need to handle transactions involving multiple currencies and intercompany operations. Pepperstone operates in a global financial services landscape where clients transact in various currencies, requiring accurate tracking and seamless integration across different currency denominations. This complexity was further compounded by the presence of intercompany transactions, where transactions occur between different legal entities within the organization. Ensuring the smooth flow of funds and maintaining accurate records while accounting for currency fluctuations and intercompany reconciliations posed a significant challenge.

Pepperstone had stringent reporting requirements, particularly for profit and loss statements and balance sheets. They needed comprehensive reporting capabilities to provide a clear and accurate picture of their financial performance across various legal entities and currencies. The reports needed to not only reflect the individual performance of each entity but also consolidate the results to present a holistic view of the organization’s financial health. Additionally, generating these reports in multiple currencies, including their main currency AUD, required a robust system to handle complex currency conversions accurately.

As a global financial services company, Pepperstone operates in multiple legislations and regions, each with its own set of compliance requirements. Ensuring the ERP system could incorporate and adhere to these diverse compliance regulations presented a significant challenge. The system needed to support the complexities of multiple legal entities, each with its specific compliance obligations, while maintaining accurate records and generating reports that complied with the respective legislation and regions.

Pepperstone already had a transactional database for customer transactions and their main platform. Integrating the new ERP system with these existing systems seamlessly was a critical challenge. The integration needed to be robust and efficient, ensuring smooth data flow between the ERP system and the transactional database while maintaining data integrity and consistency.

Our approach

DHRP thoroughly evaluated and understood Pepperstone’s requirements. We recommended and implemented Dynamics 365 F&O and the procurement module to address their pain points. We focused on delivering a true end-to-end ERP solution incorporating compliance requirements for multiple legislations and regions.

DHRP started by conducting a detailed assessment of Pepperstone’s requirements and pain points. We collaborated closely with the Pepperstone team to gain a deep understanding of their existing processes, reporting needs, and compliance requirements. This step was crucial in designing an effective solution tailored to their specific challenges.

After analyzing Pepperstone’s needs, we recommended the implementation of Microsoft Dynamics 365 Finance and Operations (F&O) along with the procurement module. This comprehensive ERP system provided the necessary functionality to address their financial management requirements, including accounts payable, accounts receivable, fixed assets, and general cash on the bank.

DHRP worked closely with Pepperstone to customize certain aspects of the financial reporting and trial balance features within Dynamics 365 F&O. This ensured the system could generate the required reports accurately, including individual legal entity performance and consolidated results in AUD.

Leveraging Microsoft Dynamics’ out-of-the-box Financial Reporter, we configured and set up the management reporting module. This allowed Pepperstone to generate profit and loss reports and balance sheets, catering to their specific reporting needs for different legal entities and currencies.

DHRP continues to provide ongoing support to Pepperstone, ensuring the system operates smoothly and meets its evolving needs. This includes addressing issues, providing training, and assisting with further enhancements or optimizations.

Result (Outcome):

DHRP successfully implemented Dynamics 365 F&O for Pepperstone, covering their finance operations. The system enabled multicurrency and intercompany transactions and provided solid reporting capabilities for profit, loss, and balance sheets in different currencies, including AUD.

Multi-Level Consolidation

Pepperstone utilizes Dynamics 365 for multi-level consolidation, incorporating subsidiary, divisional, and regional data. With the setup of entities, accounts, and dimensions, the system accommodates Pepperstone’s unique consolidation structure.

Dynamics 365 facilitates efficient financial data upload, encompassing general ledger transactions and statements. Data import tools ensure accuracy and validation during consolidation.

Financial reporting capabilities allow Pepperstone to generate customized consolidated statements like balance sheets, income, and cash flow reports, enhancing visibility into overall financial performance.

Automation within Dynamics 365 handles intercompany balance elimination, streamlining intercompany transactions during consolidation, ensuring transparent and accurate financial reporting, minimizing errors, and improving efficiency.

Overall, Dynamics 365 simplifies consolidation, empowering informed decision-making and effective financial management for Pepperstone.

DHRP customized the financial reporting and trial balance features to meet Pepperstone’s specific needs. The implementation involved six live legal entities, and ongoing support was provided to ensure the system meets Pepperstone’s requirements.

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