The client engaged OpTech Bionic System Analytics to determine the historical and current data essential for calculating the weighted average cost. Employing agile methodologies allowed us to swiftly prototype the process, gaining insights into the data's availability, volume and quality needed to meet the accuracy expectations of both internal and external auditors.
A U.S. subsidiary of a foreign corporation was asked to modify its inventory process to align with IFRS standards. This change necessitates calculating ending inventory using the weighted average cost method instead of LIFO. Although the company recently transitioned to SAP, it still depended significantly on legacy systems for recording purchases and sales.
OpTech Bionic System Analytics has developed a prototype in Microsoft SQL, which the client will adopt moving forward. This automated prototype simplifies the transition to their SAP HANA instance. During the process, OpTech Bionic Systems established the process as an app within their Azure Cloud environment and managed it using an analytics-as-a-service model.
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