Global Finance Transformation
For Companies Expanding Internationally
Growth companies face many challenges as they expand internationally. The Finance Department is particularly vulnerable due to local regulatory requirements and the need for operational efficiency. As foreign companies are acquired, Finance effectiveness can diminish due to a loss of standardization and a lack of corporate governance in countries that often need it most. A large Finance Transformation initiative could solve some of these problems, but such a large project does not come without risk, it will distract your team from their day jobs, and it will require significant budget.
We are a global management consulting firm and we work with executive teams to improve Finance operations. We utilize an approach that is both cost & resource effective and is uniquely suited to meet the needs of CFOs managing global operations. We don’t believe in massive change programs but rather focus on incremental high value (speed, benefit, low risk) initiatives to deliver change.
Our View on Common CFO Issues
“The Finance departments of our acquired companies have different ways of working.”
A robust integration capability is critical for a global organization. Bring acquired companies onto your financial system as soon as a suitable end accounting period is confirmed, generally transition acquired company’s processes to your way of working but be vigilant to see if any process really does need to be different. Don’t worry about standardizing every process, only focus on the most important and maintain a highly engaged governance board to make quick & enforceable decisions on standardization.
“We need greater control over our expenditure.”
Many organizations spend large sums implementing procurement systems to gain greater control over expenditure. Some rely on more process driven approaches, like mandating PO compliance, to help bring some order. But, expenditure control is not just about reducing spend, it’s more important to ensure you're spending on the right things than just managing every expenditure. Build out a pyramid reporting capability that allocates expenditure to specific initiatives that can then be rolled up to assess expenditure against higher level strategic goals.
“We need to reduce the total cost of the Finance function.”
Global Finance cost can be reduced through; automation, centralization or relocation. Automation works best when done incrementally, big bang automation rarely works, and it is critical to complete process automation before deploying AI agents. Centralization can work but depends on the level of digital processing and acceptance of remote collaboration in the relevant markets. Outsourcing is never as cost effective as advertised but it will work for high volume highly standardized non variable processes.
“We have to get better at managing divestitures & acquisitions.”
Successful foreign acquisitions & divestitures require both senior executive decision making and the coordination of hundreds of very detailed tasks across multiple business functions, external advisers & statutory agencies. A lack of focus in any one area, like making a late statutory filing, can jeopardize critical closure deadlines. A senior chief of staff willing to manage down to the lowest level of detail but reporting directly into the most senior executive responsible for the transaction will help prioritize detailed actions with strategy.
Our Approach
THE INTELLILINK DIFFERENCE
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We work in small teams that partner closely with client resources. This facilitates client ownership and minimizes the total cost of the change program.
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Our consultants are both highly experienced & hands-on. Although senior they get into the details of the work. This delivers a high quality output while minimizing team size.
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We combine both on-site & virtual capability. We have local consultants spread across the world and blend both on-site and virtual project management to cost effectively implement change.
We Have Run Finance Transformation Initiatives Across The World
Intellilink Solutions, Inc.
100 Park Avenue, 16th Floor, New York, NY 10017
www.intellilink.com (212) 465 3100 info@intellilink.com
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