Helping you with operational reviews, shared services, outsourcing and cost reduction
When it comes to finance operations and transactional processes, organizations large and small are trying to strike a healthy balance between short-term cost reduction and longer-term strategy and planning. Operational improvements often involve large-scale re-engineering across multiple processes, such as procure-to-pay, order-to-cash and close-to-report; and the larger a company is, the bigger and more complex a review can be.
The answer to reducing costs and improving processes isn’t always obvious, but it has been our experience that successful companies typically embrace four core strategies: operational review, shared services, outsourcing, and sustainable cost reduction. The rewards of doing so can be significant.
How PwC can help
Our Finance practice has a great deal of experience working with organizations to improve their finance functions. Our team is comprised of people who have real-world experience working in large finance functions, and our knowledge and independence can help develop solutions for your business that are both practical and implementable. We can help with:
- Finance operational reviews: We don’t come in with any preconceived notions about your finance function. Instead, we tailor our reviews to your specific organization and discover your target operating model – that is, the ideal future state of your finance function’s operations — and help you to achieve it. Our work can involve both short-term, quick-hit ways of reducing costs as well as more radical, longer-term, strategic plans of improving processes.
- Shared services: PwC has one of the most respected shared services practices in the world. We bring a unique blend of strategic, process, organizational, technological and regulatory skills to providing shared services solutions that address your needs. We help large organizations that have elements of their finance functions spread across multiple geographies to streamline their processes. This does not have to mean one location – shared services are about the common management of business processes. This allows companies to provide a higher level of consistency across the organization, ensuring that they don't have different ways of doing the same things within the finance function.
- Outsourcing: Whether you are beginning your journey towards outsourcing or you have taken some steps but have not yet fully realized the promised benefits and synergies, we can help you. To learn more about what PwC can do for you in the area of outsourcing, please visit our Sourcing Services page.
- Sustainable Cost Reduction: In a competitive marketplace, effective cost controls make the difference between business success or business failure. PwC can help in developing service delivery models that are high-performing and efficiently allocating resources by enabling sound technology and implementing cost-efficient continuous improvement programs.
We have experience helping both private—and public—sector entities. Our solutions are not theoretical; they are practical and implementable steps you can take to improve the operations of your finance function. Contact us today to learn more.