Finance Effectiveness

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Simplify your finance processes

Your finance department is under pressure to deliver superior information and controls in line with an environment of increased governance and transparency. At the same time, there are demands to reduce operational costs.

Whether you want to standardize and simplify your finance function after merger and acquisition activity, or are looking to understand the value drivers that impact business performance and strategy, our finance performance improvement team can help. Our professionals help companies assess, design and implement changes to their financial processes with services including:

Contact a professional in your area to discuss your unique business concerns.

Strategic planning for the finance function

  • Develop and communicate the vision and strategic direction for finance
  • Develop the roadmap to navigate through various expectations of the function
  • Develop a balanced and holistic approach to enable finance to optimize its efficiency and effectiveness
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Business process standardization and simplification

  • Conduct assessment of current standards applied to finance control, processes, behaviours, data, organization, people and systems
  • Conduct detailed benchmarking of core finance processes and functional activities
  • Provide best practice illustrations of finance process and functional models
  • Advise on re-engineering of finance processes and support functions
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Performance management advice

  • Prepare value driver analyses
  • Apply leading practices to develop and implement effective performance management throughout the organization
  • Provide industry and trend related benchmarking information
  • Advise on how to structure function-specific data models and applications architecture for effective performance management
  • Assist in the development of finance IT strategies supporting performance management
  • Support in the selection of function-specific reporting packages
  • Budgeting and planning
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Improved consolidation process and management reporting

  • Advise on assessment and redesign of reporting environments
  • Support consolidation and close; including SmartClose — PwC's methodology providing a top-down approach to accelerate the closing process and achieve more timely and accurate reporting
  • Advise on financial reporting and new reporting standards, including:
    • XBRL
    • Regulatory reporting (Basel II, Sarbanes-Oxley, Bill 198)
    • IFRS transition
  • Assist in assessing alternative approaches to meeting data needs
  • Advise on simplification and remediation of spreadsheet use
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People and organization help

  • Advise on organization structure
  • Assessment of skills and requirements
  • Provide recommendations to align and develop competencies and skills
  • Provide coaching and assistance with training and development programs (e.g. finance academy)
  • Apply leading practice performance management frameworks for finance staff; developing reward models consistent with corporate frameworks
  • Support the design, setup, and review of company administrative SSCs
  • Support the selection and if warranted, transitioning to an outsourcing solution
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Treasury and capital optimization

  • Advise on financial risk management
  • Advise on improving working capital management
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Controls optimization

  • Advise on operating models
  • Advise on making sustainable Sarbanes-Oxley and other control related processes
  • Advise on the control environments to support the operation of new processes and systems