Financial transformation is a fundamental change in how the finance function operates to achieve a significant improvement in current performance by delivering services that better meet the business’ needs.
Much of the finance team’s time is often spent on processing transactions, preparing reports and taking care of compliance. This means that operational tasks become the main focus of the team leaving little time for providing analysis or insights to other areas of the business.
Our team works closely with your finance team to help them become more efficient and provide better service to the internal stakeholders.
Why would you undertake a Financial Transformation?
- Inconsistent reporting
- Cost pressure
- Lack of transparency
- Data quality issues
- Outdated technologies
- Management reports take too long to prepare
- Current processes are not working
Our four-stage approach to Financial Transformation
We work with your team to achieve the transformation the business is striving for.
Strategic Plan
Understand the strategic plan of the business, the mission, goals, critical success factors.
Diagnostic
Assess the current state
Design
Assess the gaps between the current state and the future state
Implementation
Implement the transformation
What Financial Transformation covers:
Process
Review, document, and simplify processes in your business to improve efficiency
Technology
Assist with choosing and implementing cloud-based finance systems
Data
Improve reporting to enable real-time decisions
People
Work with staff to bring them on the transformation journey, assist with upskilling staff
