Finance Performance Management
Chief financial officers (CFO) are finding it increasingly difficult to locate critical information to guide their financial and operational decisions. Globalization, risk and complexity of operations have made it more burdensome to convert information into actionable results. Today’s CFO, therefore, must be focused on providing near real-time business insights to key decision makers so they, in turn, can make smart and timely decisions.
The reality in most organizations is that data and information are dispersed across many different operating units and often are not accessible to those making the day-to-day decisions. We recognize these challenges and the impact they can have on your company’s future. We also understand that everyone is making decisions, not just your management team, board or financial analysts. With that in mind, we deliver technology-enabled solutions to provide the right information at the right time to the various end users throughout your organization. Our solutions ensure that employees are empowered to positively impact overall business performance. This allows more time for employees to focus on the company’s strategic imperatives, adding value beyond crunching numbers.
Insights for Strategic Decision Making
- Data and Information Assessment. Reviewing the quality and availability of data, as well as the tools and processes used to provide meaningful information to the business.
- Performance Management Tools. Designing and implementing advanced data aggregation and visualization tools.
- Business Performance. Leveraging advanced data analytics and enabling tools to gain insight into the performance levers of the business.
- Enhanced Management Reporting and Analytics. Providing real-time, historical and forecast data from multiple sources to deliver information and allow for better day-to-day and strategic decisions.
- Budgeting, Planning and Forecasting/Financial Planning and Analysis (FP&A). Utilizing performance management tools to optimize the processes that provide insight into and better manage the future performance of the business.
Data and Information Assessment
- Review sources and uses of structured and unstructured data.
- Assess the current hardware and software infrastructure that supports information sharing.
- Evaluate the company data model, master data, metadata framework and enterprise standards.
Performance Management Tools
- Initiate selection of enabling tools such as Essbase™ and Tableau™ and develop request for information/request for proposal, if necessary.
- Consolidate, rationalize and integrate disparate data sources for a single source of truth.
- Reduce ad hoc systems and reporting.
- Define key performance indicators (KPI) and conduct benchmarking.
- Create scorecards and dashboards to visualize data and track key metrics and trends.
- Align financial and operational data and KPIs across the organization.
Enhanced Management Reporting and Analytics
- Link financial measures and operational performance indicators.
- Reduce time spent on data manipulation and reconciliation.
- Facilitate access to relevant information for faster, more accurate decision making.
- Provide consistent information between the enterprise, business units and external stakeholders.
Budgeting, Planning and Forecasting/FP&A
- Design robust budgeting and forecasting processes.
See our Financial Transformation solution for more information.
- Develop and “pressure test” integrated business plans and budgeting and forecasting models.
Client Success Stories
- Designed five-day legal entity close and streamlined account integrity program (i.e., policies, procedures and leading practices) for a global financial services company.
- Redesigned the budgeting and forecasting process to adopt an activity-based management model for a global media company.
- Reduced pre-merger integration full-time equivalents by 30 percent utilizing an integrated finance organizational methodology for a packaging company.
- Developed EssbaseTM and TableauTM analytic models to consistently produce various ad hoc reports and analyses as requested by the CFO, the chief accounting officer and investors for a major hospitality company.