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Finance & Accounting Transformation Trade-Offs

Finance & Accounting Transformation Trade-Offs. Mark Champion ACMA MCMI EMRG Annual Sourcing Summit Tue 19 th June 2012. F&A “Consensus” Transition. X. Low Cost. X. X. High Speed. High Quality. Centralisation to European SSC No real business support / buy in

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Finance & Accounting Transformation Trade-Offs

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  1. Finance & Accounting Transformation Trade-Offs Mark Champion ACMA MCMI EMRG Annual Sourcing Summit Tue 19th June 2012

  2. F&A “Consensus” Transition X Low Cost X X High Speed High Quality Centralisation to European SSC No real business support / buy in No requirement to standardise processes / systems Consultants departed at go-live

  3. F&A “Disciplined” Transformation • “Right touch” project management • Team approach with consultants & outsourcer • Simplified and standardised processes & systems • Change Management Board X Low Cost High Speed High Quality

  4. Successes of Disciplined Transformation • Single entity created from 19 European companies covering 41 countries • Inefficient intercompany processes eliminated • Documentation of key business processes • Rapid implementation • “Surprise” processes rapidly outsourced

  5. Outsourcing of Systems Accounting processes • Star players identified in off shore team • Commitment from outsourcer to support retention specifically for this team • Strong commitment from on shore team to transfer the work successfully • Simplified processes prior to transition • Developed tools to support offshore team • Detailed training plan and joint reporting back to senior management during transition • Clear KPI’s set & active monitoring thereof • Motivation of teams through recognition from client including high profile awards. Manage offshore & onshore as one team as far as possible

  6. For Further Information and Networking: Mark Champion ACMA MCMI Email: mark.champion@virgin.net http://uk.linkedin.com/pub/mark-champion/11/376/504

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