Welcome to Finance Transformation Consulting where we specialise in the Transformation of the Finance function across Organisation, Process and Technology. We have deep expertise in the design, management or turnaround of Finance functions including Finance Shared Service Centres. We can lead your Finance Transformation program from Operating Model design, through Process Re-engineering to Finance Systems Strategy. Book a Consultation.
Extensive experience in leading the Transformation of Finance functions across multiple Sectors including Financial Services, FMCG, Retail, Facilities Management, Utilities and Higher Education. Providing Finance Assessment, Feasibility Study, Business Case, Target Operating Model, Assurance and Implementation services.
We combine a Consulting approach with ‘hands on’ operational management experience to help you achieve best in class performance across your Finance function. We specialise in medium (>£150m Turnover) to large size (>£1Bn) Corporates employing from 50 to 500 Finance FTE based in multiple locations and geographies. Our team have managed Finance teams of 200 plus and know what it takes to turn Consulting blueprints into reality.
Our approach is always based on a thorough review of the Finance function from an Organisation, Process and Systems perspective. This enables a firm Baseline to be established that all Stakeholders approve prior to any Transformation initiatives progressing. In our experience Businesses can go many years without Transformation, the Processes and System then require upgrade or complete overhaul due to performance failures or compliance breeches. Our Finance Review can quickly get to the heart of these issues and prioritise for improvement.
We know how important it is to have CEO/CFO endorsement for any major Finance Transformation program to succeed and we work with the Senior Management team to accurately define the Exam Question prior to articulating a shared Vision of the future of Finance. Our experience teaches us the importance of strong Stakeholder relationships not just in Finance but across the Business and we are skilled in hosting Workshops across Functions such as IT, Procurement, Supply Chain and Customer Services to ensure robust end to end Finance Processes. To learn more about how Finance Transformation Consulting can help drive your Finance Transformation program Click here.
We have designed, built, managed or led the turnaround of Finance Shared Services both in the UK and EMEA. Extensive experience across multiple Sectors including Pharma, Automotive, Financial Services, FMCG, Retail, Facilities Management, Utilities and Higher Education is complimented by experience in all forms of Shared Services Operating Model.
We will Baseline your Finance function to assess the feasibility of adopting a Finance Shared Services (UK) or Global Business Services (Multi Region) model. We can advise on the appropriateness of Captive versus Business Process Outsourcing (BPO) Model for your business based on our key decision criteria and input from your Stakeholders. One of the key decisions in establishing a Finance Shared Services Centre is the Location and our Location advisory team can help you compare the benefits of the UK Regions, South Africa, India and Eastern Europe.
Due to the investment of time and resources it is our experience that Clients will adopt a Finance Shared Services Model in conjunction with upgrading their Finance ERP. Our project management and risk assessment tools enable you to determine how best to schedule these major changes for your type of business.
We have helped Clients who have already implemented Finance Shared Services and are struggling with challenges to deliver best in class performance or who have Compliance issues in their Finance Processes. Our approach is to quickly establish a Baseline and deploy our Root Cause analysis tools to identify the problem. If needs be we offer Interim Leadership and can step in for a period of time and deliver operational management to underperforming Finance Shared Service Centres. To learn more about how Finance Transformation Consulting can help you design, create or refine your Finance Shared Services Centre Click here.
Every major Finance Transformation or Finance Shared Services program has at its heart a change to the Finance Systems. It is critical to have a firm Baseline of all Finance Systems not just the main Finance ERP. We advise Clients to Map their Finance Systems in the same way as their Finance Processes, Operating Model or Organisation. If it plays a part in the performance of a Finance Process it needs to be Documented and Baselined.
Many Clients will have elements of their Finance Process, Invoice Capture as an example, which are not supported by Technology. This is why it is critical to start with the Finance Process from an End to End perspective first across Record to Report (R2R), Purchase to Pay (P2P) and Order to Cash (O2C). Then the Finance Systems in use are mapped against these Processes to identify both gaps and opportunities.
We adhere to the Peter Drucker Maxim that ‘you measure to manage’ and every aspect of our Finance function from Process, through Organisation to Finance System must be mapped and underpinned with Metrics. It is the volumes that flow through the Process, driven by Finance Systems that define the context of the challenge faced by the business. These Volumetrics whether they be annual Invoice Processing volumes or number of ERP instances all feed into defining the Exam Question faced by the business and the Solutions required to address it. To learn more about how Finance Transformation Consulting can help create your Finance Systems Strategy click here.
