Case Study: FMI Corporation achieves major receivables reduction and faster month-end close with Deltek Maconomy (Deltek)

FMI needed a solution that understood the challenges of the consulting industry

FMI, the premier management consulting and investment banking firm for the construction industry, was hampered by outdated systems in 2003. The firm faced strained client relationships, slow receivables (19% of revenue over 120 days), week‑long month‑end closes, and an overburdened accounting team. FMI needed a scalable enterprise solution with flexible invoicing that required minimal customization.

FMI implemented Deltek Maconomy across all business units in a six‑month rollout, giving consultants self‑service access to timesheets, expenses, invoices and real‑time project data. The change cut month‑end close to two days, reduced receivables >120 days from 19% to about 3.24% in three years, improved cash flow and client relationships, and allowed accounting to reduce headcount by three while lowering billing errors and administrative delays.

FMI Corporation

Denise Proctor

CFO