FINANCE PROCESS
TRANSFORMATION

Most companies realize the value of efficient, consistent and scalable business processes, yet struggle when it comes to driving process improvement and optimization. They are challenged with manual processes, bottlenecks, and under-utilization of Oracle EBS, all of which adversely affect business performance.

 

At Transformious, we understand that finance process transformation (FPT) is important for any organization to drive tangible results. We have depth of experience in leading FPT initiatives that addresses many of these deficiencies and delivers results to the bottom line. We focus on process design as a component of any technology implementation

TRANSFORMATION SERVICES

ARE FOCUSED ON

  • Uniform, centralize and automate finance processes
  • Identify and fix broken processes and delays that affect closing and reporting
  • Fix Intercompany from Transaction Creation, Accounting to Reporting
  • Implement Intercompany Netting and Settlement governance and policy
  • Improve financial controls

OUR FINANCE PROCESS TRANSFORMATION SERVICE

IMPROVES THE ACCURACY OF FINANCE PROCESSES THAT PROVIDE HARD AND SOFT BENEFITS THROUGH

  • Improve: Management & Statutory Reporting, Internal Controls, Cost Management and Profitability
  • Reduce: Cost of Operations, Transaction costs, Period end close time, Manual Intervention, Duplication Efforts, Reporting costs, Complexity of balance sheet reconciliations and Dependency on Legacy Applications.

WE ARE EXPERTS IN FINANCE PROCESS TRANSFORMATION

ACROSS A BROAD RANGE OF FUNCTIONS THAT INCLUDE

  • Finance Process Standardization and Optimization
  • Fast Close Initiatives
  • Intercompany Reconciliation and Netting
  • Accounts Payable Optimization
  • Accounts Receivable Optimization

CREATING VALUE
THROUGH FINANCE
TRANSFORMATION

FINANCE PROCESS STANDARDIZATION & OPTIMIZATION

Most companies realize the value of fluid, consistent and scalable business processes, yet struggle when it comes to driving process improvement. They are challenged with manual processes, bottlenecks, and under-utilization of Oracle EBS, all of which adversely affect business performance.

 

At Transformious, we understand that finance process transformation (FPT) is important for any organization to drive tangible results. We have depth of experience in leading FPT initiatives that address many of these deficiencies and deliver results to the bottom line.

 

We initiate these programs by working with your team to identify opportunities for improvement, and designing end-to-end business processes to ensure they operate as efficiently as possible through deep-dive sessions. We focus on process design as a component of any technology implementation. After all, there is little value in supporting an inefficient business process with the latest technology.

FAST CLOSE/MONTH-END CLOSE

In our years of working with CFOs across various industries, we have found that many organizations still struggle with the vision of timely financial close. Whether your organization is challenged by a complex closing process, extensive manual intervention at closing, getting a handle on the ever-increasing statutory requirements, or relentless focus on cost and efficiency, we can help you prioritize and tackle these opportunities together.

At Transformious, we help you realize significant improvements in your financial close process, including substantial reduction in manual intervention across several processes.

INTERCOMPANY ACCOUNTING/RECONCILIATION (IAR) & NETTING

Intercompany Accounting / Reconciliation (IAR) refers to the processing and accounting for internal financial activities and events that impact multiple legal entities within a Group. IAR can include sales of products and services, cost allocations and royalties, etc.

 

With mounting pressure on companies to achieve a more efficient financial close in order to support timely filing and internal control, too many still struggle with the time-intensive requirements of managing Intercompany Accounting and Reconciliation (IAR) that is often inefficient due to processes and systems. Just as with closing, it is often a great challenge and a lot of work to balance intercompany accounts on a monthly basis. We have seen companies defer the balancing and reconciliation effort to quarterly, as it was not deemed achievable within a month.

 

 

We can help you address the common challenges of IAR, including:

  • Intercompany Governance and Policies
  • Transaction Creation and Management
  • Netting and Settlement Process Automation
  • Intercompany Reconciliation and Reporting

Transformious can help your organization unlock this potential through the implementation of Intercompany best practices. We can design an approach that is fully integrated and cross functional that assigns ownership and accountability, and that is based on well-delineated processes. It’s a blend of people, processes and technology.