Financial transformation and performance
Finance has changed - how do you measure up?
Stakeholder pressures, regulation and continually evolving competitive threats all mean that finance functions need to work smarter to help their organisation achieve and maintain competitive advantage.
Efficient finance functions are expected to:
- provide accurate and timely information to support decision making
- act as a trusted advisor, responsive to business needs
- offer good value for money
- execute transactional processing with minimum effort
- have financial professionals offering valuable decision support activities
- focus on continuous improvement.
PA has a depth of experience in working with finance to:
- develop a vision and future operating model - focusing on value creation and decision support
- improve financial processes - supported by systems changes if needed
- achieve further cost reduction and service level improvements using differing service delivery models such as shared services or outsourcing
- identify the capabilities and competencies required for finance to become integral to the strategic decision making processes within an organisation.
PA has no affiliation to any outsourcing or audit providers. Therefore we are able to offer completely independent advice and support to organisations with a finance transformation need.
Case study: Professional services firm
With the imminent arrival of a new system, the time was right for our client to review finance operations and seize the opportunity to: better align finance roles to the needs of the new system, harmonise finance structures, processes and procedures globally, enhance levels of business support, reduce costs and establish an efficient, future-focused organisation.
PA designed a new service delivery model and identified:
- a full-time-employee (FTE) reduction of 28% by implementing shared services for accounts payables, expenses and cash management
- a further 20% reduction in FTEs and £20m of disbursements which could be recharged to the clients by redesigning the ‘working capital process’.
 To request more information please email us at: financialmanagement@paconsulting.com.
|
