One of the main goals of the finance function is to add value to a business and identify opportunities for improving financial performance. An effective finance function minimises the time spent on processing standard transactional information and reporting and therefore makes it possible for the finance department to focus on value-added activities to support the management in its decision-making processes, ensure compliance with the company’s rules and financial discipline, and meet the requirements of best practices and standards.
Our team of experts has extensive experience helping its clients to formulate an appropriate approach to introduce financial function changes. With our help, the financial function will start to mutually influence control elements, costs and efficiency in direct relation to the business strategy, and, at the same time, help create a structure and culture that respond to changing conditions.
Finance Function Transformation is a broad change programme that can help change the finance function from its traditional supporting function to that of a business partner and advisor.
The dynamism, speed, and competitive nature of the business environment require that companies seek a competitive advantage. A high-performance management standard represents such an advantage by allowing clients to streamline their company and transform it into a client-oriented company.
Key Performance Indicators (KPIs) are a critical part of performance management. They serve to align companies behind goals and direction, provide clear accountability for individual and collective performance, and provide the best mechanism for incentives to achieve performance targets. In practice, defined KPIs should turn into Management Information (MI). An MI framework should be present in all firms to help them drive the business performance aligned to the strategy at all levels of management:
The unique nature of performance management and measurement allows companies to develop and implement a system that cannot be easily copied by competitors.
PwC brings a proven approach to book closing and reporting. It rationalises and optimises processes, systems and organisational structures, which leads to providing faster and more reliable information about business activities.
Costing and profitability solutions address many issues faced by the management of today’s companies: ranging from support for decision making to compliance with regulatory requirements. The objective of cost accounting is to track expenditures to specific products and services. Profitability helps companies define their product strategy and pricing, assists during forecasting, etc.
Cash leakage is usually the result of errors and omissions that slip through even the best-controlled processes. These losses are often greater following mergers and acquisitions, the implementation of new systems, reorganisations, periods of high staff turnover, and payments function centralisation (e.g., shared service centres).
PwC Cashfinder™ can help you recover the cash that would otherwise be permanently lost. We can also help you resolve the problems that caused the cash leakage. Common problems include unclaimed credits, duplicate payments, overpaid taxes, and overcharged telecom costs.
We choose those elements of Cashfinder™ that are most appropriate for your company and situation. Cashfinder™ will find tax underpayments before the authorities do. A project can also extend to reviewing your procurement costs or better managing your working capital.
The FFE Diagnostic provides a 360° degree view of the finance function, taking into account how effectively and efficiently the finance function operates. It comprises a set of structured questions supported by a narrative to provide guidance and assist in the collection of the relevant information and performance measures. The FFE Diagnostic is designed to obtain results in a 4- to 5-day period.
The FFE Diagnostic can pick up and identify the most problematic issues and activities that the company is or will be facing.
Offer to our clients: