Scorekeeper or Business Partner? Finance Transformation Finance Transformation - Finance as a partner in business Finance evolution from scorekeeper towards a partner in business Business Leader & business partner Added Value Functional Expert Management accounting/ control Score keeping • • Fiancial accounting Transaction processing • • • • • • • Accounts payable Accounts receivable General ledger administration Collection Billing Fixed assets Payments • • • • • Administrative organisation Ledger management Closing (Month, Quarter, yr) External reporting Tax declaration • • • • • • Internal MA accounting Budget, realisation, comparison Medium term plan/ budgeting Forecasts Risk management Cash management Treasury management Cost allocation Decision support • Cost-profit analysis • New business/ pricing • Customer, productand channel profitability • Business case analysis Strategy & performance management • Environment analysis • Competition analysis • Business performance analysis • Benchmarking • Support to strategic planning • Balanced Scorecard • Scenario analyses Leading edge of finance is to be recognized as a business partner Value creation Business Partner Relevance • Financials and non-financials • Leading and lagging indicators (BSC) • Rolling forecast Relevance Reliability Efficiency Complexity Time Scorekeeper - informs - Functional expert - interpretates - Business partner - intervenes - Efficiency • Uniform financial IT systems • Workflow based consolidation process • Web-based reporting platform Reliability • Standardized account framework • Group wide standardized accounting and reporting manual • Pre-ultimo cross-functional closing meetings Complexity • Integrated reporting, forecasting and planning model • Integration of management and legal reporting • Standardized processes Plus talented people Stages of organizational development Stage 1 Scorekeeper • Inadequate processes Stage 2 Functional Expert Stage 3 Business Partner • Processes in place • Efficient processes • Lacking system • Stand-alone systems, integration, partial mismatched formats automation • Integrated systems • Fundamental reporting • Very high processing capacity needs • Offline reporting • More timely and higher-quality reporting content Stage 4 Business Leader • Virtual Close (on-time reporting) • Centralized processes • Seamless technology integration • Focus on analysis and • decision making • • Integrated VBM, opportunity, and risk management Finance Portal Integrated shareholder relations management Finance Transformation Portfolio o Finance Process Optimization & Re-design o Efficient & “Fast Close” 2.0 (Full PE Reporting Cycle) o Finance ERP Package Selection (7 steps proven best practice approach) o Finance ERP Implementation (Full-cycle Project Management, Target Operating Model, Financial Reporting Data Model, Chart of Accounts (re) design) o General Ledger (re)design & optimization o Future proof Financial Reporting Models (MA, FA & Regulatory) o Corporate Performance Management (KPI’s, TOM) o Cost Management Models (with our partner FinTouch) Contact Information