Accounting Excellence

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Accounting Excellence - Strategic Realignment in Accounting

At the core of accounting lies not only the precision and speed of providing information, but also the imperative to promptly and accurately inform both internal and external stakeholders. With new regulatory demands, a shortage of skilled workers, and expanding global business operations, integrating automated processes becomes a key strategy to enhance efficiency and ensure the quality of information.

Accounting Excellence Current topics

Group Accounting (Consolidation Systems) and Disclosure Management

Optimization of Accounting

Accounting Standards / IFRS 16

Accounting and Closing

Cost & CO2 Accounting

Shared Service Center & Global Business Services

BEPS Pillar II

Performance Management & Controlling

Performance Management and Controlling Topics:

Management Model
Planning and Reporting
Cost and Profitability Management
Business Intelligence
ESG Controlling and Reporting
Procurement / Sourcing
CPM Platform

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Finance Transformation

Finance Transformation Topics

Finance Target Operating Model (Fin-TOM)
Finance Roadmap (Digital Agenda, Digital Finance)
ESG Transformation / CSR Reporting
S/4 HANA Transformation
Process Automation
Post Merger Integration / Carve Out / IPO Readiness
Crisis Resilience

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Accounting Excellence

Accounting Excellence Current topics

Group Accounting (Consolidation Systems) and Disclosure Management

Optimization of Accounting

Accounting Standards / IFRS 16

Accounting and Closing

Cost & CO2 Accounting

Shared Service Center & Global Business Services

BEPS Pillar II

Performance Management & Controlling

Performance Management and Controlling Topics:

Management Model
Planning and Reporting
Cost and Profitability Management
Business Intelligence
ESG Controlling and Reporting
Procurement / Sourcing
CPM Platform

Learn More

Finance Transformation

Finance Transformation Topics

Finance Target Operating Model (Fin-TOM)
Finance Roadmap (Digital Agenda, Digital Finance)
ESG Transformation / CSR Reporting
S/4 HANA Transformation
Process Automation
Post Merger Integration / Carve Out / IPO Readiness
Crisis Resilience

Learn More

Overview

Relevance

Accounting excellence encompasses the optimization and automation of accounting processes through advanced technologies and integrated systems. The relevance of this service stems from the need to be able to react ever more quickly to market requirements while ensuring the accuracy of financial reporting. Core features are the seamless integration of internal and external accounting, the use of AI for process automation and the realization of end-to-end processes in standard ERP systems.

Accounting Excellence addresses several key challenges in companies:

Speed and Accuracy: the integration of accounting processes increases the speed of data processing and the accuracy of information. This enables fast and well-founded decisions to be made at management level.
Complexity Reduction: The integration of internal and external accounting eliminates the need for cumbersome reconciliation processes between different accounting groups, which reduces complexity and creates transparency.
Cost Efficiency: Automated processes reduce the need for manual intervention, thereby lowering operating costs. Resources can also be deployed more efficiently.
Compliance and Standards: Digitalization and the implementation of best-practice processes simplify compliance with new and existing standards, which minimizes the risk of compliance violations.
Adaptability: Companies gain flexibility in the face of regulatory changes and market conditions thanks to the improved scalability and modifiability of accounting systems.

In Focus

IFRS and SAP S/4 HANA

Breakthrough in Corporate Management: SAP S/4 Promotes the Seamless Integration of the Worlds of Figures in Accounting

Speed and reliability are also improved by the long-standing trend towards the integration of internal and external accounting. The spread of IFRS was the starting signal for this. As a result, reconciliations between different accounting groups are no longer necessary and corporate management follows the externally communicated targets. SAP's new product generation, S/4, now fully supports this concept.

Process Automation

From Robots to AI: The Evolution of Process Automation in Modern ERP Systems

New technologies promise the next boost in the automation of high-volume processes. The use of increasingly intelligent robots makes this possible even in an ERP landscape that is not fully integrated. However, the greatest lever of automation is still the mapping of integrated end-to-end processes, as accounting is the sink of many upstream business processes. Modern ERP systems have been making this possible for a long time. However, many organizations struggle with integrative process optimization due to responsibility boundaries. As a result, the head of accounting is evolving from a personnel manager to a process manager.

Artificial intelligence promises to automate further process steps. As part of a financial AI strategy, initial candidates can be identified and experience gained through pilots.

Go to Process Automation

Group Accounting and Disclosure Management

Optimizing Group Accounting: Increasing Efficiency From the Individual Company Level to Group Reporting

In group accounting, the integration of accounting systems leads to a considerable simplification and acceleration of the preparation of consolidated financial statements. By implementing accounting excellence at individual company level, we enable a fully automated reconciliation to the Group chart of accounts. These include segment reporting and the efficient management of intercompany transactions.

Shared Services & Global Business Services

Shared services and global business services are a solution strategy for the accounting challenges faced by global organizations, as they enable the efficient bundling of financial and accounting services. By centralizing these functions, companies can optimize their operational processes, increase transparency and improve reporting. This leads to improved decision-making at management level and supports stronger integration of financial management into the overall corporate strategy. Shared Services and Global Business Services thus make a significant contribution to improving financial performance and competitiveness.

Go to Shared Services und Global Business Services

Why 4C?

As a leading management consultancy, we have in-depth expertise and extensive experience in the implementation of accounting solutions. Our approach combines process excellence and technology with customized strategies tailored specifically to the needs of your business. Rely on our expertise to transform your accounting processes and realize significant competitive advantages. Contact us to learn how we can help your business succeed with customized accounting solutions.

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Our Success Stories

Use Case Viessmann - Target Operating Model

The finance organization was structured similarly across various areas of the corporation, leading to high complexity and inconsistent reporting data. To enhance effectiveness and efficiency, a review was conducted, identifying core areas for alignment with growth objectives, including a comprehensive roadmap for initiatives and digitalization.

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Use Case Norma - Digital Roadmap

With digitalization, the focus was on exploring potentials in the finance sector to communicate a clear vision and roadmap internally within regions and to the board. The aim was to outline the finance department's "Value Proposition" and define the core action areas for the next five years through a workshop series called "Digital Agenda 2025".

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Use Case UTA - Performance Management

The previous process was conducted using Excel, based on a highly complex cost accounting system, which also served as the foundation for legal billing. The aim was to establish an integrated system where consolidation and reporting could also be incorporated.

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What our Customers Say

“

"The challenge of mapping an integrated business model of a global industrial group was big. Markus Noçon and his team masterfully implemented it and created a system that convinces through layout and usability. Despite the different business plans of the individual companies, from construction to production and service, it is thanks to the competence of the team that this has been implemented in Planning Analytics in a user-friendly way. By implementing Cognos Controller at the same time, an integrated system was created that maps the business processes from budgeting and planning to consolidation and reporting. The training of users at our locations in the USA and the Caribbean allows us to develop analyses and reports independently (cultural and language barriers were never an obstacle). Schedule and budget were always adhered to. 4C has repeatedly provided us with valuable ideas and impulses, and through professional methodology has created a system adapted to our specific needs."

Ulrich Wrabetz, Finance Director at Proman AG

“

Your Temporary Co-drivers

Stephan Grunwald

Senior Partner

stephan.grunwald∂4cgroup.com

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Markus Noçon

Senior Partner

markus.nocon∂4cgroup.com

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Peter Keefer

Partner

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Relevant Articles

Get in touch

We would like to point out that this website only offers a limited insight into our services. Our expertise and range of services cannot be fully represented on this platform. For individual advice and to address your specific concerns in the best possible way, we cordially invite you to contact us directly so that we can offer you tailor-made solutions.

Thank you for your trust. We look forward to hearing from you.

Claudia Bauer

Head of Marketing & Business Development

+49 89 599 882 0

claudia.bauer∂4cgroup.com

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Maike Ring

Expert Marketing & Business Development

+49 89 599 882 0

maike.ring∂4cgroup.com

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Accounting Excellence

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