Financial Effectiveness

In line with ever changing governance needs, the finance function is constantly faced with enhancing its value contribution to the business, delivering information and maintaining effective controls, whilst at the same time being subjected to internal demands to reduce the cost of its operations. Such pressures create a challenging environment for the finance function.

Multiple pressures imply multiple roles for the finance function including:

• Scorekeeper - processing transactions and maintaining accounting records at low cost and delivering efficient month-end reporting processes.
• Communicator - explaining the business story to internal and external stakeholders.
• Diligent caretaker - assisting in effective operation of governance and control in matters of financial management and operations.
• Business partner - providing the business with insight and advice on competitive issues, developing strategy and plans, operating as business advisor and challenging the complexity of the business model.

If this is your situation:

• You want to reduce complexity, standardise and simplify the business model and finance function.
• You wish to establish an integrated governance framework.
• You need to understand the value drivers which impact business performance and align key performance indicators (KPIs) to business strategy to support behaviours in order to drive performance.
• You have to improve the efficiency of the finance team and develop the people.
• You wish to improve management information to align internal reporting to the way external stakeholders view the business.
• You want to leverage investment in Sarbanes-Oxley and move from 'project' mode into a sustainable process.

How PwC can help you:

We work closely with CFOs, Financial Directors and Treasurers to provide innovative viewpoints, independent advice and support in developing and optimising finance operations, in order to meet the changing requirements of businesses.

Services we provide include:

• Business Performance Management
  

  PwC assists clients by:

  – Advising clients on the preparation of budgets and forecasts, ensuring these are aligned to strategy and linked to operational performance metrics.
  – Helping businesses achieve business sustainability using tools such as Balanced Score Card, Metric Management and Financial Management Reporting.

  
• Finance System Selection
  

  PwC assists clients by:

  – Advising on the sourcing, selection, evaluation and implementation of key business systems affecting financial performance and appraisal.

  
• Financial Reporting
  

  PwC assists clients by:

  – Their internal and external corporate reporting requirements by understanding the needs of key stakeholders and regulators and delivering solutions using well designed and controlled spreadsheets and databases combined with modern technologies such as XBRL.
  – Charting a path through the current maze of uncontrolled spreadsheets used throughout the corporate reporting chain.
  – Validating the accuracy and integrity of complex financial models in spreadsheets and databases.

  
• People and Organisation
  

  PwC assists clients by:

  – Reviewing finance functions and advising on organisation structures (including the use of shared service centres and outsourcing), skills requirements and the development of competencies.
  – Advising on the alignment of finance with other operating functions.

  
• Standardisation and Simplification
  

  PwC assists clients by:

  – Conducting assessments of finance controls, processes, behaviours, data, organisations, people and systems and benchmarking these against best practices.
  – Supporting the implementation of simplified and standardised operating models and processes.

  
• Working Capital Management
  

  PwC assists clients by:

  – Identifying weaknesses in internal systems which give rise to collection, payment and inventory holding issues.
  – Advising on the establishment of key performance indicators and incentive schemes, which focus management attention on consistent and transparent performance improvement.