Finance Function Transformation
Finance Function Transformation is a broad change programme that can help change the finance function from its traditional supporting function to the role of a business partner and advisor.
Part of the transformation projects can be Finance Function Optimisation. This product is aimed at optimising and improving performance of the finance department. Best practices show the size of a finance division should be around 1.5% of the whole company. Our approach is based on our proven methodology for performance improvement: Performance Improvement Through Benefits Management (PITBM). This methodology has been successfully applied in the optimisation of accounting processes in large and mid-size companies. The methodology emphasises the management of benefits of changes to achieve maximum utilisation of income from improvement initiatives.
Typical issues that you can face:
- Finance function is not appropriately adjusted to supporting the business.
- Costs are high and finance function efficiency is lacking.
- Structure and responsibility do not ensure efficient management.
- Finance function requires standardisation to improve efficiency and compliance.
How PwC can help you
- Reviewing standards of controlling finances, processes, data, organisation, people and systems
- Running benchmarks of key processes and financial activities using the Finance Diagnostic tool
- Modelling finance function on the basis of best practices consistent with strategic operational goals
- Process mapping
- Consulting in the financial processes and support function reorganisation.
- Evaluating key role competencies in the financial organisation
- Evaluating applied key performance indicators (KP).