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Finance Effectiveness

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.

For 73% of CFOs, the digitalisation of financial functions is a high priority

Only 25% of finance departments use process mining.

Only 25% of finance departments use process mining

44% respondents expect their digitalisation budget to grow in the future.

44% respondents expect their digitalisation budget to grow in the future

18.5% of CFO’s time is devoted to digitalisation

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

The goal? Shift to a modern finance operating model

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.

How do you drive Finance Transformation?

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 Organisation
and Structure

Finance Workforce and Capabilities

Finance Workforce
and Capabilities

Lead with Process
Finance Organisation and Structure

Process Excellence and Automation

Cloud ERP and Digital Platforms

Cloud ERP and Digital Platforms

Automated and Predictive Controls

Automated and Predictive Controls

Lead with Performance
Advanced Analytics, Insights and Action

Advanced Analytics,
Insights and Action

Strategic Finance Business Partnering

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

Tangible business benefits: Sustainable cost reduction, faster cash-conversion cycle

Agile operating model

Agile operating model: Speed and quality of decision making, future-ready workforce with skills beyond core accounting skills

World class processes

World class processes: Improved maturity realized through sustained performance levels in SLA-KPIs, digital enablement of end-to-end business processes

Business Partnering

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
Maximising enterprise performance
  • 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
Transforming finance processes
  • 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
Agile finance operating model
  • Digital finance strategy and design
  • Digital finance implementation
  • Controllership analytics
  • Vendor payables digitisation
  • Customer receivables digitisation
  • Asset management digitisation
  • Technology assurance
Digital finance enablement
  • 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
Finance operations
  • 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
Multi-function shared services

Insights

Contact us

Ritu Rekha

Ritu Rekha

Partner and Leader, Finance Effectiveness, PwC India

Gaurav Agarwal

Gaurav Agarwal

Partner, Finance Effectiveness, PwC India

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