Managing today’s finance functions requires CFOs and top executives to understand their company’s strengths and weaknesses, and to find levers for performance improvement so as to be able to plan ahead. Sia Partners’ expertise has allowed us to provide CFOs with a high-level assessment of the finance function and a blueprint for the future.case study
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A few years ago, the CFO was mainly in charge of accounting, tax compliance and treasury matters. In recent years, the pressure on costs imposed by the environment and technological opportunities have changed the CFO’s responsibilities drastically. The role of the CFO has evolved into that of a co-pilot delivering performance/value measurements, agile forecasting and taking proactive approaches in terms of risk.
Sia Partners has created a range of services to assist CFOs in coping with a financial department transformation in three main areas:
- performance management: models, indicators, management cycles, BI tools
- risk and internal control: audits, risk mapping, compliance, control of continuous improvement
- financial process efficiency: referential standardization, dematerialization, shared service centres, treasury optimization
We help large organizations:
- structure their transformation roadmap and business plan for financial processes and organizations by using benchmarks and expertise collected from many sectors: banking, energy and utilities, information and technology, industry;
- choose their technology partners on the basis of continuous market studies on ERPs, analytic and planning tools, GRC or Cash Management, allowing Sia Partners to independently recommend the most adapted and the most updated solutions;
- manage transformation projects in a pragmatic way, and to set up change management strategy using the appropriate tools for each population and context.
Unlocking potential and enhancing financial performance
Sia Partners helped a global player in industrial and automotive logistics with the design of a HQ performance improvement and cost reduction plan. The project included creating a benchmark for the overall finance function along with other corporate HQ departments.
Accounting department transformation
Management might opt to transform the financial department in order to enhance performance, but it might also be the result of a merger or of strategic goals. In such cases, Sia Partners provides the accounting team with both organizational expertise and change management skills.case study
Sia Partners helped the accounting department of a financial institution to fulfil the requirement inherent in the new shareholder strategy. The project included a new accounting process to define a new organisation and a shared service centre set-up.
Management and support of financial IS evolution
The improvement of finance function tools is a key component in terms of guaranteeing the efficiency of accounting and financial planning and analysis. Designing and implementing such tools requires skill with knowledge of each business impacting finance, as well as of the IS environment. Sia Partners’ feedback and studies on the financial IS environment allow us to respond to this constant challenge facing CFOs today.case study
Sia Partners helped a large water supplier to monitor and implement a core financial information system model. The project included framing, project management and change management.
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