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
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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Our broschures for Finance Transformation
Digital Finance, Target Operating Model, SAP S/4HANA, CSR Reporting
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Our experts for Finance Transformation
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