Finance Transformation Project

($13 Billion Movie Production Company)
Challenge:
  • 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.
Highlights:
  • 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.

Outcome:

  • 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.

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ECM Consulting Group | United States