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Finance Transformation is the way forward!
Transform Finance to drive strategic value
Industry convergence, changing business models, regulatory shifts, and acceleration of ‘digital’ across value-chain in the corporate environment necessitate a push towards a digital, fit-for-future finance function.
Successful finance teams must operate as strategic business partners, bringing data driven insights gleaned from advanced analytics and predictive modeling. They are required to be more effective at enabling and driving strategy, mediating external stakeholders, and making their organisations more resilient, streamlined and agile as they journey into the future.
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The Digital CFO: Using the Digital Finance Function Strategically
PwC study 2022: Transformation of the Finance Function
For 73% of CFOs, the digitalisation of financial functions is a high priority
Only 25% of finance departments use process mining
44% respondents expect their digitalisation budget to grow in the future
18.5% of CFO’s time is devoted to digitalisation
The goal? Shift to a modern finance operating model
Use digital innovation to automate transactional processing and enable strategic, actionable insights
How do you drive Finance Transformation?
Use a combination of modern and traditional levers to help accelerate growth, improve cost structure, and reinvigorate the workforce.
The key pillars of Finance Transformation
Finance modernisation is a strategic shift in the finance operating model enabled by continuous digital transformation across people, process, and performance.
Although it is anchored around seven levers, you can start anywhere but only true value is achieved when these are orchestrated together successfully through transformation.
Vision and Strategy
Lead with People
Finance Organisation
and Structure
Finance Workforce
and Capabilities
Lead with Process
Process Excellence and Automation
Cloud ERP and Digital Platforms
Automated and Predictive Controls
Lead with Performance
Advanced Analytics,
Insights and Action
Strategic Finance
Business Partnering
Accelerate your Finance Transformation journey with us!
Finance Effectiveness practice in Management Consulting drives this CFO agenda using a combination of modern and traditional levers to accelerate growth, improve cost structure, and reinvigorate the workforce. We help Finance transform the Business to generate fast, visible and sustainable impact.
Our clients realize the following benefits in finance- and business-related areas:
Tangible business benefits: Sustainable cost reduction, faster cash-conversion cycle
Agile operating model: Speed and quality of decision making, future-ready workforce with skills beyond core accounting skills
World class processes: Improved maturity realized through sustained performance levels in SLA-KPIs, digital enablement of end-to-end business processes
Business Partnering: Equipping the finance team with the right set of data and analytics infrastructure to act as business partners and help with strategy
Our service offerings
The PwC suite of Finance Transformation solutions helps you navigate today’s challenges, so you can move forward with confidence into tomorrow.
- Performance framework design and implementation
- Integrated planning and budgeting
- MS and analytics
- Financial and business analysis
- Costing design and implementation
- IPO readiness
- Post-merger integration
- Finance process assessment and benchmarking
- Finance policies and control advisory
- Book close and reporting optimisation
- Working capital and cash forecasting
- Transactional process engineering (AP, AR)
- Specialised finance process engineering (Tax, Treasury)
- Finance capacity enhancement
- Finance operating model diagnostic, design and implementation
- CoE set-up for value-add and services like FP&A, analytics, indirect tax advisory
- Fit for future finance workforce design and implementation
- Digital finance strategy and design
- Digital finance implementation
- Controllership analytics
- Vendor payables digitisation
- Customer receivables digitisation
- Asset management digitisation
- Technology assurance
- Finance talent and org assessment
- Benefits and business case management for ongoing projects
- Digital adoption and citizen-developer advisory
- CFO / controller secondments
- Accounting services
- Preparation of financial statements and reports
- Finance PMO secondments
- Captive shared services - design and transition (all functions)
- Outsourcing - design and transition services (all functions)
- BPO contracting advisory
- SSC / BPO productivity enhancement
- SSC / BPO service expansion strategy
- SSC operations
- Location assessment for centralisation / outsourcing
Insights
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