Finance and Accounting Transformation

Improving the effectiveness of financial processes

For the typical retailer, routine financial and retail accounting tasks still make up about 80% of finance work, a ratio unchanged since the 1990s despite enormous investments in enterprise resource planning software. As a result, many retailers' finance and accounting functions present significant opportunities for increasing efficiency and reducing costs, and for freeing up finance personnel from administrative paperwork processing to help executives manage risk and make far better operational decisions.

Our Finance and Accounting Transformation practice supports chief financial officers and their teams to lesson the distraction of transaction processing and administrative work, so that they can focus on being value-added business partners. We analyze the key policies, processes, productivity, organization structure and roles in accounting operations, including transactional-based processes such as payables, payroll, receivables, sales audit, inventory control, banking, and general accounting.

We have developed a proprietary benchmark product specifically for retail CFOs to measure performance of key financial processes. These benchmarks help them measure the efficiency and effectiveness of their financial processes. We identify and quantify areas for improvement, which enable CFOs to prioritize initiatives for improvement.

To date, more than 24 leading retail chains have participated in our benchmark initiative.

Contact us to find out how we can help your business.