Assurance THE 2nd Opinion!
Our Team have all worked in Big 4 Consulting Firms and we are familiar with the approach of a Big 4 Firm and the solutions they are likely to recommend to Clients in the Finance Transformation space. Combining this with our proven Finance Leadership experience across several industries makes us ideally placed to offer assurance services to Clients.
The majority of FTSE 100 Finance Transformation programs involving Finance Shared Services, Global Business Services, Cost Reduction, Target Operating Model design and Business Process Outsourcing will be performed by a Big 4 Firm. The programs represent such large-scale investments that they can typically involve more than one Big 4 Firm.
In many instances the Client Finance teams will not have the same experience of how a Big 4 Consulting team delivers its work. Clients can find that this disempowering and leaves them exposed to risk and excessive cost.
Therefore, Clients like to have a 2nd opinion.
Assurance is a cost-effective review of the Deliverables of their Finance Transformation program. They want this performed in a fast, effective and cost-effective manner and this is where a boutique Consultancy like Finance Transformation UK adds real value.
We are familiar with the approach, the standard expected of the Deliverables and the alternative Target Operating Model options available to the Client. We provide an independent, impartial assessment of the Deliverables and the direction of travel the Client is being guided towards.
Our familiarity with the approach of a Big 4 Firm means we can provide Assurance on the Deliverables in less than one third of the time they took to create with far less resource. We are finding the need for this type of service is growing as Clients are felling increasingly disempowered by the fast-paced growth of Technology within which they have limited expertise.
In the last 3 years Clients have asked us to review their Finance Transformation Business Case, Target Operating Model, ERP Strategy and Finance Shared Services Strategy. Our approach involves:
1. Deliverables Review
We will commence by reviewing the completed or draft Deliverables available. We will offer advice on the approach taken and, on the quality, and depth of the Deliverables
2. Stakeholder Interviews
We will test the effectiveness of the approach by interviewing Key Stakeholders to gather feedback on their experience with Communication, Workshops, depth of subject matter expertise and the direction of travel
3. CFO Challenge
Finally, we collate our findings and feedback to the CFO crucially along with our challenges on the proposed Target Operating Model and our alternatives.
When you consider that the investment in a Finance Transformation program with ERP upgrade is a multi-million pound investment then a regular Assurance exercise is a highly cost effective means to manage Risk!
Finance Transformation UK - Assurance Specialists!
Author: Michael Ryan
With 25 years' experience Transforming Finance across multiple Sectors as a Consultant and as a Finance Transformation Leader, Michael Ryan is uniquely placed to advise Clients on creating a World Class Finance Team. Call him now on 0203 1466878