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- The company had outsourced a portion of its finance and accounting functions.
- The CFO desired to reassess the effectiveness of the finance organization.
- The key objectives were as follows:
- Understand and define the requirements for the tax, treasury, and technical accounting functions.
- Design a finance and accounting organization that will serve as a partner to the operations group.
- Understand and define retained and outsourced finance and accounting roles.
- Interviewed key members of the retained and outsourced finance organization.
- Conducted surveys at the staff and management level to get different perspectives on the effectiveness of the finance organization.
- Researched relevant resources on leading practices related to the design of world-class finance organizations.
- Obtained Executive Team’s buy-in regarding the approach to implementing the new organization.
- Identified key professional skills required for new key positions.
- Proposed a new finance organization with a net FTE increase of 2.
- The split between decision support and transaction processing activities changed dramatically with more of a focus on decision support.
- Roles enhanced or created included:
- Revenue Assurance
- Corporate Controller
- Cash Management
- Process Improvement Mgr.
- Technical Accounting Mgr.
- Tax and Internal Audit continued to be supported by the Parent Company.
- The timeline to implement the new finance organization structure was 8 months.