CLIENT: A $2 billion plus regional grocery retailer.
Experiencing cost savings pressure from private equity ownership, the client asked us to benchmark its finance organization to help reduce processing costs that were inflated due to declining transaction volumes and banner spin-offs.
We conducted a retail-specific finance benchmark that identified significant opportunities for savings. A series of current state and future state workshops were conducted to validate our assumptions, identify specific improvements and begin the process of team buy-in. We then created a detailed roadmap sequencing the implementation of the recommendations to leverage near term savings opportunities and other related recommendations.
The recommendations were implemented over a nine-month period with initial focus on quick wins. Our team worked closely with the client’s internal audit department to ensure that all redesigned processes were thoroughly documented and Sarbanes-Oxley compliant. We conducted a detailed span of control analysis to reconfigure the finance organization for the interim period of staff reductions as well as for the final organization.