Financial Departments
Supporting financial officers, both guardian of the temple and business partner
Financial Departments
Supporting financial officers, both guardian of the temple and business partner
Between regalian functions, risk management and performance management, CFOs are at the heart of changes in their organizations:
- Supporting strategic thinking, lead management committees and Boards
- Supporting major transformation projects for support functions (human resources, IT, back offices)
- Setting an example in their own function through numerous digitalization projects
- Ensuring regulatory oversight and secure transactional systems
- Guaranteeing the company’s long-term viability through financial monitoring and risk management
Our Management Consulting teams support finance and risk management departments in the success of their missions.
Transforming finance departments
Reinventing finance to keep pace with organizational change.
Adapting financial management to changing business models
Disintermediation, moving upmarket, increasing volumes, product innovation, opening up new markets, internationalization: business models are changing dramatically in these very Schumpeterian times, and companies need to adapt, anticipate or react.
Finance Departments need to develop their management models with very concrete impacts on :
- data models, analysis axes, granularity, methods used (costs)
- steering processes and cycles, budget preparation methods, profitability analysis, but also the integration of numerous other indicators and the introduction of Balanced Scorecards
- governance, with changes in decision-making methods, management colleges and the dashboards that finance must provide to support decision-making at all levels of the company
Deploying a core model within a group and sharing services
The weight of habit, successive acquisitions, unbridled growth: all these criteria sometimes require rethinking.
Diagnosis (WHY) :
- 360° diagnosis of the finance department
- Audit of financial processes
- Review of existing processes and definition of requirements
- Convergence and harmonization of processes and management rules
Target operating model (WHAT) :
- Target process and organization of the finance department
- Review of management rules
- Implementation of shared service centers, review of the links between the different levels of the organization (group, BUs, subsidiaries…)
- Financial information systems roadmap, organization of the various application bricks
Implementation and deployment (HOW) :
- Rationalization of information systems
- Implementation of a new ERP and Greenfield approach
- Definition and deployment of an ERP Core Model
Modern finance
Modernizing processes
Digital finance
The dematerialization of supplier invoices and the use of QR codes to pay customer invoices are now well-established topics within finance departments. Beyond the technical aspects, we are also witnessing less regulatory and more economic transformations, such as :
- overhaul of intra-group invoicing flows and implementation of decentralized workshops, PO Flip and self-billing.
- implementation of closing cockpits
- use of advanced algorithms and AI for bank reconciliation of cash receipts
- dematerialization of expenses
- remote data transmission to tax authorities
All financial processes are affected.
New ERP
There are many use cases, and each organization needs to find the right solution for its business challenges. These are complex, risky and costly projects that need to be mastered.
- Implementing S/4HANA or, on the contrary, move away from SAP towards simpler Best of Breed solutions
- Streamlining systems and integrate them through the deployment of a new ERP system
- Choosing a tool dedicated to accounting and back office operations (purchasing, human resources) and integrate it with operational systems
- Articulating large ERP systems for core BUs with lighter solutions for foreign offices and small subsidiaries
From the expression of your needs through to project management, our professional project management teams support you in your decision-making process and ensure the success of your project. Our methodologies focus on the business case and process analysis, and perfectly address the technological dimension, guaranteeing long-term solutions.
Smart finance
It is possible to simplify processes and put your employees at the center, by developing their autonomy and versatility. This will depend on the level of maturity of your finance department. Your organization will become more responsive, adapting quickly and demonstrating resilience in crises.
Lean approaches adapted to services can also simplify processes, making them more efficient and less costly.
Finally, for demanding financial contexts, we can help you reduce your closing times, set up permanent inventories and industrialize your monthly reporting.
Substainable Finance
Finance can contribute to the sustainable development of organizations in a number of ways:
1) ESGR or CSR regulatory reports, calculation of carbon footprint according to various standards (ISO14064, GHG protocol, ADEME method, United Nations sustainable development goals, etc.).
- Over and above the regulatory minimums, we can help you take meaningful sustainable development indicators into account
- from the point of view of your business (distribution, industry, services),
from a financial point of view, highlighting positive results
2) Numerous studies have shown that the most successful organizations are also those that have best taken sustainable development objectives into account. The CFO plays a key role in guiding the company’s management through these changes: governance, operations…
3) Discover the Green P&L concept, an incredible tool for transforming your company while combining economic and financial performance.
4) Contribute to the United Nations Sustainable Development Goals 16 and 17 by implementing BEPS reports to manage your global tax situation.
Performance management
Aligning the organization with its strategy and management model
Financial and management consolidation
After almost 30 years of unification of statutory and management consolidation, today we’re talking about de-unification and real-time consolidation.
Together we take a close look at your statutory and management reporting needs, and advise you on your closing and steering processes, the advantages and disadvantages of different methods, and best practices in your industry.
We align management reporting with your management model and strategy. Based on group steering, you can “extend” the alignment of your transactional systems’ data models.
Michael Porter’s cost centers and value chains, profit centers and the BCG matrix are examples of tools used to streamline your analytical models. We can also help you bridge the gap with traditional ERP objects (orders, project structures, marketing segmentation, business partners, etc.).
Budget planning
Is the budget an obligation or a genuine management tool?
This obviously varies. The overhaul of forecasting processes is a major area of work for our teams. Depending on business models, industrial sectors and management styles, the tools used differ.
Zero-based budgeting, Rolling forecast, Driver Based Forecast, Beyond budgeting, we support you in defining and implementing your forecasting cycles, whether :
- to equip and give your controllers more time to analyze the figures and discuss
- them with operations, rather than crunching excel or powerpoint files
- to simplify them, reducing the number of forecast reports
- or, quite simply, to finally change the paradigm and adopt the practices that best suit your management needs.
Integrated business planning
Nothing is more complex than integrating an organization’s various forecasting processes. However, by going beyond the finance department alone, you can improve the organization’s performance and, consequently, create value:
- Demand planning
- S&OP
- Strategic plan
- Sales and Operations Plan (SOP), Production Plan (PDP) and Resource Planning (MRP)
Our Sales, Supply Chain, Production and PLM experts can provide you with a 360° view of your management needs.
Tax optimization
Determining the provisional normative tax rate, tax planning and transfer pricing optimization are essential topics for your organization, and you can take advantage of our experience and templates to create your own planning applications. Our experts in tax reporting and consolidation will help you define and implement a consolidated tax proof, a true financial control tool in the same way as the statement of changes in equity or cash flow.
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