Finance transformation

Successful transformation is the key to success

The implementation of all concepts in the finance area lead to transformation processes that always affect both the organization and the finance applications. Today, commercial processes and systems in large corporate groups are so complex that successful transformation is the key to success.

This requires specific transformation approaches that combine project management, business expertise, knowledge of cultural aspects, and technical know-how. Successful project teams must master at least these disciplines.

Target Operating Model
Transformation of finance systems
External triggers for transformation

Target Operating Model

The Target Operating Model itself must first and foremost be aligned with the requirements of the business and is therefore as individual as the company itself. Nevertheless, trends can be identified and general principles formulated. The separation of transactional financial processes and the preparation and provision for performance management (reporting factory) from the analysis of information and the provision of advice to management is becoming widely accepted. In this way, the worlds of numbers can be standardized, processes professionalized and the performance of controlling improved.
The result is the creation of shared service centers that ensure the standardization of methods, bundle key competencies and guarantee high service standards for the entire organization. Efficiency gains are achieved along the way through economies of scale and methodological excellence. Shared services are thus also increasingly finding their way into controlling.
Digitalization also opens up new opportunities for typical accounting shared service centers. On the one hand, improved collaboration options allow a virtual organization across several locations. On the other hand, the further automation of processes is leading to the withdrawal of simple transactional activities, so that offshoring and wage arbitrage are becoming less attractive. RPA also plays a role here. What becomes essential is the qualification of employees, who can now be hired at locations where talent can be acquired.

Transformation of finance systems

With S/4 HANA as a beacon, a new generation of systems is available for finance. In corporate performance management, old technologies need to be replaced and specialized solutions for consolidation, planning and BI become integrated platforms. In this way, quality is increased, complexity and, last but not least, operating costs are reduced. With 4C Solutions we support our customers in the transformation of the CPM landscape.

The introduction of the new ERP S/4 HANA reaches deeper into the business of every company. On the one hand, this results in significant opportunities to gain or expand competitive advantages and, on the other hand, significant risks of failure. The complexity of these major projects can only be successfully managed by a team of IT and business experts who are not attempting this for the first time. In addition, the project should not be left to the system integrators themselves, who have their own agenda.

External transformation triggers

Investors and customers expect many companies to make a sustainable contribution to the future of our society through corporate social responsibility management. If CSR is to be more than a fig leaf, it goes beyond an annual report. To achieve this, CSR must be anchored in corporate management. This transformation of management can lead to the transformation of the entire business model and is therefore not only a task of the CFO area but of the entire corporate management.

Current topics

SAP S/4HANA, Target Operating Model, Shared Services, Optimierung des Rechnungswesens

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SAP S/4HANA

Through a clever transition management, exploiting the potential optimal.
Target Operating Model

Finance Office Evolution
Shared Services

Consolidation & centralization of service processes
Optimization of accounting

Best possible support from accounting for business model
Digital Agenda

Roadmap for implementing digitization projects
Process Mining

Revolutionize the transparency & efficiency of your business processes!
Digital Finance

Digital Processing, Big Data, Predictive Analytics
Process Automation

Process transparency as the key to optimization
CSR Reporting

Creating transparency for the control, processing of data in reporting
ESG

A transformation of companies is imperative

Our broschures for Finance Transformation

Digital Finance, Target Operating Model, CSR Reporting

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Download PDF
286 KB

Digital Finance - Digitization will increasingly change finance

Where does digitization begin?
Digitization is the project to use digital technology to offer new products, to improve processes and to improve communication and networking
Digital Strategy, Digital Operations and Digital Capabilities

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518 KB

Whitepaper on Digital Agenda: How to ask the right questions

Developing a finance vision
Creating new solutions: Design Thinking Workshops
Defining tasks and dependencies using the Digital Agenda

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685 KB

Whitepaper Target Operating Model - Preparation for CFO 4.0: Without a clear target image of the future finance organization, the CFO area will become the company's dinosaur!

How can the new available data be integrated into the reporting?
What does reporting and control look like under industry 4.0 sign?
What effect will the relocation of CRM systems to the cloud have on the CFO?
Is the old paradigm that every number in the company must come from the CFO area losing its validity?
Can one trust the promises of the manufacturers who once again promise integration?
When can reporting and planning finally become part of general corporate management and not a controlling event?

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4,5 MB

Study and thesis paper CSR Reporting

Motivation of the study
Experience in the implementation of CSR reporting
Summary: These are the issues that will need to be addressed

Our experts for Finance Transformation

Get in touch with us through Xing or LinkedIn

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Stephan Grunwald

Senior Partner

stephan.grunwald∂4cgroup.com

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Markus Noçon

Senior Partner

markus.nocon∂4cgroup.com

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"The participants' assessment of the workshops was extremely positive, because it provided clarity in many areas about what changes with SAP S/4HANA compared to SAP R/3. It is also useful for the participants to know which steps need to be taken now and before the changeover to S/4HANA and how S/4HANA will affect their future working methods.

Dr. Volker Obermann, Global Head of Group Corporate Finance & Shared Service Areas Viessmann about S/4 HANA Discovery Workshops with 4C GROUP

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