Transformation and Optimisation of Corporate Finance Function
In recent years, the Finance Function has become a significant part of corporate strategic decision-making. In order to become a strategic partner for business, the corporate finance needs to move its operating model strategically and put high demands on digitalisation and automation. This transformation of the Finance Function also requires changes in technical and non-technical skills of its representatives. PwC advisers are broadly experienced in projects concerning optimisation of the Finance Function and its set-up in compliance with the best practices.
- Transformation of the Finance Function
- Optimisation of the corporate Finance Function
- Controlling
- Financial consolidation
Transformation of the Finance Function
A transformed Finance Function allows the insight of the financial management in corporate strategic decision-making and thus increases its quality and reliability.
- Change in role of the corporate financial team (business partnership)
- Key skills of the financial team
- Automation, robotisation and performance
- Relevant data for strategic management
- Cloud solutions of ERP platforms
- Tools (robotisation, online platforms of smart documents and templates, etc.)
- Compatibility with regulatory requirements
Optimisation of the corporate Finance Function
Optimisation of the target Finance operating model increases the efficiency of corporate cost management, sets efficient control mechanisms and lays emphasis on performance improvement while maintaining or reducing the current costs.
- Target operating model, organisations, processes, systems, people
- Finance organisation (roles, activities, responsibilities – RACI matrix, controls)
- Optimisation of financial processes (process mapping, gap analysis, improvement of process efficiency, design of future processes, control designs, data flow analysis)
- Process and capacity management – capacity planning (adequacy of utilised FTE and their effectiveness, changes to organisational structure concerning finance)
- Shared services / outsourcing consulting
- Post-merger integration
Controlling
Performance measurement and management (by appropriate KPIs setting), reporting quality for all levels of company management and other integral parts of controlling, including the setting and ensuring of outsourcing of transactions, belongs among the key services provided by PwC MI Finance department.
- Managerial and statutory reporting (optimisation and rationalisation of reports including automation)
- Budgeting and forecasting (preparation / design / redesign of the financial plan, comparison / analysis of the current situation vs. plan, standardisation and consolidation of analysis inputs
- Calculations (regarding price, costs and plans)
- Dashboard, performance measurement and KPIs setting
- Cost optimisation (financial or even other departments as required, analysis of the current situation and proposal of the future solution while taking into consideration the expected trend
- Optimisation of the chart of accounts – adjustment and mapping of CZ GAP and IFRS accounting data including reporting
- Consolidation of the chart of accounts with respect to accounting dimensions
- Outsourcing of accounting or selected accounting processes – setting associated processes and SSC functions
- Performance of operative accounting tasks
Financial consolidation
Transform your financial consolidation and reporting with PwC and NDC Financial Consolidation. Improve, automate, and simplify your financial close and reporting processes and build the data foundations for data analytics and enterprise planning.
You are looking for an expert to help you; you want to request our services; or simply ask something? Let us know about yourself and we will get back to you as soon as possible.