As any CFO who has undertaken finance transformation knows, it is difficult and time-consuming. It requires careful planning and resources, and can be costly, especially without proper planning. But finance transformation is also critical if finance is to keep up with the changing needs and strategies of the business.
Deloitte helps finance leaders address the most critical priorities in enabling the finance function to support and create value for the business — from establishing finance as a trusted partner to the business to developing a high-performance operating model, improving core processes, and managing ongoing performance.
Our approach to your challenge
Our value driver and enabler model is the starting point to assess the current state of the finance function against leading practices and create an improvement plan or transformation roadmap.
We work with CFOs to deliver and improve value in the six key areas of their responsibility, the ‘value drivers’, across the finance organzation (performance and decisions, risk and capital, strategy and execution, transaction processing, close, consolidation and support, and regulation, governance and controls) and four ‘enablers’ (systems and information, policy and process, finance organization, talent & people), which support the execution of the transformation.
How we can help
To drive improvements, we focus on reviewing the current state of the finance function against leading practices and identifying gaps across five key areas:
1. Finance Strategies
Our Finance Strategy Solution Set help CFOs define and formulate their strategy assisting them with assessing their vision and helping design and implement the change to their finance operating model including the organization structure and process delivery model.
2. M&A Finance
3. Operational Finance
In order for your finance organization to add strategic value to the business, it must first add value through excellence in core functional areas. Deloitte’s Finance Process Improvement offering focuses on rationalizing and optimizing core finance processes, including:
• Order to Cash
• Procure to Pay
• Record to Report
• Inventory Accounting
• Budgeting, Planning & Forecasting
• Management Reporting
• External Reporting
• Finance systems
• Finance Process Excellence
4. Business Finance
We support our clients to create and execute finance processes to establish and realise business objectives across the organization.
Principles of Performance Management
Develop the foundational elements that create the environment (value, accountabilities, measures, dialogues, culture) in which performance management processes run effectively (e.g. planning, budgeting & forecasting, management reporting).
Planning, Budgeting, Forecasting
Rationalize and improve the production of Plans, Budgets, Forecasts across process, people and technology dimensions.
Management Reporting and Analysis
Rationalize and improve the production of management reporting and analysis across process, people and technology dimensions.
Elevate Finance's role to connect and support the organization's strategic and tactical priorities, delivering value through insight, to support growth and future performance with acceptable risk.
Cost and Profitability Management
Assess the costing approach and analyse parameters of profit to develop holistic value chain view.
5. Service Delivery Model Design
Form follows function — the way your finance organization is structured should directly reflect and support its role in the business. Many finance organizations across various industries are being asked to provide more insights and proactive decision support while reducing costs. The order of the day seems to be do more with less, leading many finance leaders to seek new operating models to tackle the dynamic marketplace.
Deloitte’ Finance Operating Model offering focuses on developing a more effective and efficient model for finance operations. Our services encompass:
- Operating Model Design
- Shared Services Design & Implementation
- Outsourcing Design & Implementation
- Organization Design
- Finance talent
These gaps are addressed by defining a plan and helping CFOs to redesign and implement improvements.
Please do not hesitate to contact a member of the team with any queries you might have.