Finance Transformation Project
($13 Billion Movie Production Company)
- Due to changes in the industry and clients’ preferences, the company’s market leadership was being challenged and profits were going downward.
- The company had launched several initiatives to restore the desired profitability level. One of them, involved off-shoring finance and IT operations located in the USA, Western Europe, and Asia.
- Our mandate included making the Record to Report process more cost-effective and efficient globally.
- To reduce the cost of the Record to Report process, led the formation of the three Accounting Centers located in Poland, China and India.
- Led effort to streamline the Record to Report Process from a process and technology perspective.
- Maximized ERP system functionality and implemented “add-on” software as needed.
- Introduced a “continuous improvement” way of working to over 250 professionals.
- Identified the Voice of the Internal/ External Customers and developed KPI’s to monitor performance.
- Reduced people cost up to 50%.
- Efficiency gains enabled Finance to spend less time on transactional work and more time providing business insights.
- Standardized the Record to Report Process.
- The overall cost of finance lowered to below 1% of sales.
- Built infrastructure to integrate future acquisitions quicker.