The Business Processes and Controls service will help you with best practice process design for optimal performance, automation and quality output.
Typical areas where value is realised include:
– Improved Forecasting / Predictive Insights / Budgeting
– Quality, speed and savings from optimisation and automation of finance processes
– Best in class cost and service efficiency
– Time and resources to drive strategic topics and projects
– Improved resilience and workload management across finance team
– Becoming true business partner(s) to CEO and across the business
– Attract, develop and retain quality staff
– Compliance and data quality is right first time, on time, every time
– Meaningful and actionable KPIs and metrics
Pains typically relieved include:
– Inefficient or non-standard processes
– Finance function under a lot of pressure from operational tasks
– Arguing over data quality instead of supporting data driven decisions
– Unable to produce accurate timely reports
The Finance Transformation Services enable Finance to sustain and grow the business with enhanced value add and more effective and efficient future proof processes and system.
Streamlining and leaning business processes and controls, either in targeted areas where there are issues to be fixed, or as a wider range of process re-engineering for example in the context of a new ERP implementation.
We develop process metrics so you can measure progress on the finance transformation journey. We create operating manuals and user guidelines. With streamlined and compliant processes, the finance function is able to devote more time to data analysis and business partnering
Our Requirements of You
* Ensuring an executive sponsor from your organisation is allocated to the engagement, communicates the rationale behind it and signs off any ‘Terms of Reference’.
* Assisting in all possible ways to ensure that a contract, (and confidentiality agreement where necessary) is in place, in advance of any work commencing.
* Ensuring all support is in place and access is granted for all and any required data, processes, policies, meeting rooms and nominated resources to enable successful delivery of the engagement.
* Ensuring sponsor availability within the agreed timeline, to resolve any significant issues that may impact the timely completion of the engagement, if not resolved in a timely manner.
Our Commitments to You
* Provide support throughout service delivery using our World Class Professionals and Subject Matter Experts.
* Provide high quality deliverables in a timely manner and in line with agreements upon engagement with the client. (Any changes to this will be mutually agreed in writing, in advance, between all involved parties).
* Provide deep insights and genuine value-add in all possible areas throughout the engagement.
* Provide progress updates and feedback at regular intervals, agreed in advance or at the engagement ‘kick off session’.
* Respect all personal and professional development of client team members throughout the engagement.
- Finance process redesign
- Automation analysis
- New analytic models and reporting packs, deep diving into key financial performance and financial sustainability issues
- New target operating model
- New process and controls design / streamlining to create efficiency, better service and compliance (including lean six sigma approaches)
Available Service Engagement Models
*This service may be engaged via multiple engagement model options to provide maximum flexibility.
Network Units enable complete flexibility around any engagement. When using Network Units, clients can swap and change delivery experts, scope and duration of engagements in a frictionless manner with very little notice, in line with the quantity of Network Units purchased. Network Units can be purchased in blocks of any size and at any time and are billed in full at point of purchase.
Project Based Engagement
Project based engagements operate on the basis of agreeing work and any outcomes or milestones for delivery in advance of commencement of any engagement in a ‘Statement of Work’. Prices are fixed for the agreed deliverables and should changes be required, these may incur changes to delivery costs. Payment for Project Based Engagements are agreed on a case-by-case basis, giving consideration to risk, contract value, client payment history, relationship longevity and duration.
A HiveMind Subscription Service enables clients to flexibly engage with HiveMind Expert(s) in line with the subscription purchased. Subscriptions typically run for 12, 24 or 36 months or can also be arranged on a rolling 6 monthly basis. Subscriptions for 6 or 12 months are billed at the commencement of service, with billing for 24 or 36 month contracts taking place on the annual anniversary of subscription commencement.
Focus In On: Responsible for Finance / CFO
New Areas of Value:
Improved Forecasting / Predictive Insights / BudgetingHidden
Quality, speed and savings from optimisation and automation of finance processesHidden
Best in class cost and service efficiencyHidden
Time and resources to drive strategic topics and projectsHidden
Improved resilience and workload management across finance teamHidden
Becoming true business partner(s) to CEO and across the businessHidden
Attract, develop and retain quality staffHidden
Compliance and data quality is right first time, on time, every timeHidden
Meaningful and actionable KPIs and metricsHidden
Inefficient or non-standard processesHidden
Finance function under a lot of pressure from operational tasksHidden
Arguing over data quality instead of supporting data driven decisionsHidden
Unable to produce accurate timely reportsHidden