Finance Transformation, Shared Services (SSC)

  • IMPLEMENTION
  • TRANSITION
  • MANAGEMENT
  • CONTINUOUS IMPROVEMENT

ORGANISATION

  • Global Engineering PLC – €40b, 100kFTEs
  • MENA region – €400m revenue, 2500 FTEs,

project SCOPE

  • centralization of back office function
  • harmonization of finance operations accross Middle East,
  • Ensuring efficient internal controls (RCM)
  • Significant reduction of SG&A costs

project GEOGRAPHY

Middle east and North Africa – MENA
UAE, SAUDI ARABIA, QATAR, KUWAIT EGYPT, BAHRAIN, JORDAN, TUNESIA

FINDINGS

  • Not harmonized process
  • delays in booking
  • delays in reporting
  • inefficient Internal Controls System (RCM)
  • lack of Risk Analysis
  • Poor cooperation and transparency
  • duplication of functions
  • very negative perception of Accounting dep’t by other departments.

CHALLENGES

  • 8 Legal Entities in different countries
  • negative attitude of managers
  • resistance for change
  • poor corporate culture
  • Lack of knowledge about controls and risks
  • complicated and not coherent processes in each country

ACTIONS

  • Strategy Development
  • Governance Structure prep.
  • Service Scope and Design
  • Business Case development
  • Process Mapping and Optimization
  • IT and infrastructure
  • Talent management and Organization Design
  • Transition planning and execution
  • Change Management, communication
  • Performance Management
  • Continuous Improvement

DELIVERABLES

  1. SSC implemented, back office centralized
    • processes – O2C, P2P, R2R designed and implemented.. Sales, procurement and operational support processes centralized in SSC/BSC. Procedures harmonized
  2. Governance and oversight established
  3. SLAs & KPIs designed and managed
  4. Internal Controls implemented
    • Efficient Risk Controls Matrices (RCM) implemented in all 8 countries – Majority of Controls centralized and more reliable. Management awareness of risks & controls
  5. FTEs and costs reduction
    • Reduction of Finance staff from 85 to 50, Procurement from 25 to 15. Overall EUR 1.5m costs reduction

EXPERTISE APPLIED

Finance & Accounting

  • Strategic Fin. Planning, Execution
  • Budgets/Forecasts/Actual P&L/BCF
  • FP&A, Statutory, Group Reporting
  • Financial and reporting discipline

Business Turnaround

  • Back office costs optimization (SG&A):
  • Restructuring & Process Improvement
    • Centralization
    • Regional Shared Services (SSC/BSC)
      • creation, transition, management,
      • continuous improvement

Change management

  • addressing staff concerns,
  • facilitating cultural alignment
  • operational processes streamlining

Project management

  • proper process planning
  • roadmaps preparation and execution
  • efficient resources allocation

DOWNLOAD FILE

Finance transformation – SSC project (pdf) – less than 1MB

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