About Joseph V. Coniker

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Joseph has influenced and provided services for leading organizations across industries, including:  Alcoa, Amazon, Barton Malow, Carnegie Mellon University, CIT Group, Heinz, INC Research, Landstar, PPG, TMS International, TransDigm Group, and Quest Diagnostics, among others.  

He has over 30 signed references from client executives for outcomes achieved.

Below is one of many notable case studies for a project led by Mr. Coniker, specifically application design and project management:

Case Study: Financial Consolidation Transformation for a Global Aerospace Manufacturer

Company Overview & Challenge

A leading global manufacturer in the aerospace and defense sector, with over 190 legal entities and $5.1B in annual revenue, faced significant challenges managing financial consolidation and reporting. The organization operated with more than 26 disparate ERP systems across its subsidiaries, relying on a legacy consolidation platform and Excel-based chart of account mapping for 48 operating units and 117 reporting units. With their existing financial consolidation software no longer supported the company sought a modern, scalable solution to support corporate financial modeling and future analytics capabilities.

Solution delivered

• Defined and conducted a comprehensive discovery phase to scope the project, review existing data, align the chart of accounts, and develop a detailed implementation roadmap.
• Evaluated leading consolidation platforms and selected OneStream Software for its robust financial consolidation and close capabilities.
• Integrated directly with key ERP systems, including Great Plains, and automated foreign currency rate feeds.
• Developed an automated, distributed batch process to load and certify trial balance data from 117 reporting entities every five minutes, enabling full consolidation of each entity in just three minutes.
• Established standardized data integrity controls and unified 48 different chart of account structures across 26 different ERP transactional systems into a common corporate level framework for decision making.
• Configured five distinct workflows in OneStream to support Actuals, Budget, Forecast, Outlook, and 5-Year Plan scenarios.
• Delivered 585 unique workflows to facilitate efficient data loading and certification for each disparate reporting business unit.

Business Impact

• Replaced legacy consolidation technology, significantly reducing the time required for entity consolidation and enabling consistent trial balance reporting across all operating units, reducing the monthly close cycle to less than 72 hours.
• Enabled rapid onboarding of newly acquired companies and divestitures, providing updated financial statements in 7 days and full trial balance analysis in less than 30 days.  
• Established a scalable, automated financial platform to support both current and future analytics and forecasting needs.

Highlights

Industry: Aerospace & Defense Manufacturing

Revenue: $5.1B

Employees: 10,000

Location: U.S.-based, global operations

Key Processes: Financial consolidation and close, chart of account management and budgeting.

This transformation empowered the organization with greater agility, enhanced data integrity, and accelerated financial reporting across its complex, multi-entity private equity structure.

Throughout his career, Joseph Coniker has successfully implemented various strategies and systems to enhance working capital across multiple business areas. His achievements include:

Collecting Receivables Quicker: Mr. Coniker leveraged a comprehensive customer management system to streamline processes and reduce the average collection period (DSO) by 20%. This improvement led to an annuity savings of $2,000,000 per year in commercial interest over a 20-year period.

Optimizing Accounts Payable: By implementing a strategic approach to managing vendor quality metrics, Mr. Coniker extended the average payment period (DPO) by 30 days, enhancing financial flexibility and reducing operational costs.

Strategic Inventory Management: Mr. Coniker adopted a dual approach to inventory management, balancing longer holding periods for certain items with faster inventory turns for others, optimizing levels and enhancing the financial balance sheet.

Supply Chain Optimization: He improved working capital in the supply chain by optimizing payment terms with suppliers and customers, strengthening relationships and reducing operational risks.

Human Resources - Headcount Forecasting: Mr. Coniker implemented a comprehensive headcount forecasting system, optimizing staffing levels and reducing unnecessary labor costs, thereby improving financial efficiency and responsiveness to changing business conditions.