Finance Transformation

• Assess the maturity of the current finance function using Grant Thornton Bharat’s Finance Maturity Assessment Model across various dimensions such as processes, technology, people and digital
• Identify high-level opportunities for improvement
• Develop a roadmap to improve maturity

• Understand relative performance of finance function vis-à-vis leading-edge finance practices
• Identify high-level opportunities for improvement in the maturity

• Identification of opportunities and a high-level roadmap to improve the efficiency of the finance function

• Define the desired future state of the finance function
• Assess current maturity and operating model across key dimensions (process, skills, data, technology, governance)
• Identify the capabilities and technology enhancements to achieve the future state
• Develop a roadmap to progress to the desired finance operating model

• Ensuring that the finance function is able to support the current as well as future business objectives
• Identification of process, technology and capability gaps

• An efficient and “future ready” finance organisation
• Leverage contemporary technologies to reduce manual processes
• Increased strategic influence in the organisation

• Assess viability of Finance Shared Services and build a business case
• Develop shared services strategy including dimensions such as scope, location, governance
• Develop a roadmap to implement the shared services strategy
• Manage transition of processes into shared services
• Assist in outsourcing of finance processes and provide ongoing vendor management support

• Lack of standardised and automated processes
• High cost to serve
• Limited scalability due to decentralised finance function

• Financial benefits through lower cost to serve
• Reduction in manual and non-standardised work
• Greater customer orientation
• Allows finance to focus on business partnering

• Assess current state finance processes, systems & controls, data, org. structure and operating model by conducting assessment workshops with all relevant stakeholders
• Identify gaps and opportunities for improvement
• Benchmark the current finance organisation, process, systems and controls and technology with industry leading practices and recommend right-fit solution

• Re-structure finance and accounting function from traditional organisation to a more agile process driven function
• Defined measurable KPIs and enhanced performance of the team
• Automated manual and redundant processes with ERP, AI/ ML, planning, recon and consolidation solutions
• Evaluation of finance maturity
• Identified opportunities for: process improvement and inefficient or multiple finance processes

• Future-state roadmap to improve the finance function
• Identification of areas for further assessment
• Improved alignment of resources across strategic and tactical components of the business
• Improved operational efficiency
• Lower finance operating costs

Intelligent OCR solution combined with RPA and ML technologies driven by approval workflow assists the clients to effectively automate their AP process as below:

• Intelligent OCR auto extracts invoice data from scanned files and sends data to RPA system
• RPA extracts PO and GRN data and performs 2-way/ 3-way match with invoice data and handles exception
• RPA uploads matched invoices into ERP and processes vendor payments, posts GL entries and sends remittance advise to vendor

• Manual & time consuming
• Data accuracy
• Scalability when there is huge transaction volume
• Potential control issues

• Productivity savings of c. 30-40% by reducing manual effort
• Can handle very large volumes as compared to manual processing
• Improved accuracy and controls
• Doesn’t require any changes to existing IT infrastructure

• FP&A maturity assessment and diagnostic study
• Alignment of FP&A to overall strategy through business analysis – strategy workshops
• Define scope, metrics and establish leading practices based on robust market research
• Identification of right talent and build Centre of Excellence with defined R&R
• FP&A operating model transformation
• Define process and sub process within FP&A and prepare SOP and policy manual

• Budgeting takes too long with multiple versions making it hard to track
• No standard policy or operating procedures across organisation
• No system controls
• Manual driven budgeting and forecasting with approvals happening over emails
• No real time view on budget vs actual and variance
• Inaccurate reports and dashboards with not clearly defined KPIs

• Real-time reports and dashboards that gives an accurate view of budget, actuals and variance
• Standardised processes and policies across organisation
• Better and faster decision making
• Enhanced system controls and workflow reduces error and re-work
• Better position your organisation to act on opportunity as business dynamics evolve
• Increased collaboration among stakeholders
• Minimum time spent on budget process

• Business process maturity assessment and diagnostic study and align to overall strategy 
• Define scope, metrics and establish leading practices
• Basis the interviews, prepare process, sub-process, and activity level details for all the identified processes with roles and responsibilities by department. Detail the functionalities required in future state.
• Evaluate a set of available ERP software basis the criteria developed in consultation with the senior management
• Score the tech products /software available for the criteria that is needed across various parameters

• Align business processes across organisation through elimination of repeatable processes, process standardisation and simplification and finally automation
• Maintain standard policies, procedures or operating procedures across organisation
• System based controls and workflows with segregation of duties with defined roles and responsibilities
• Accurate reports and dashboards with clearly defined KPIs

• Best-fit ERP solution with the benefits of industry leading practices
• Implementation plan and approach (big bang, functional rollout, etc.)
• Business case with TCO and ROI understanding
• Clearly defined detailed execution plan with pre-requisites/ dependencies for technology implementation

• Business requirement and gap analysis
• Odoo configuration and end-to-end implementation (including system testing and end user training)
• Integration with 3rd party apps, Banking channels, E com website, etc.
• Data migration from different ERPs

• Automated and integrated solution (Increased efficiency by 40%)
• Reduction in the time spent on month end closures
• Reduced manual processing (Hours saving of 20 %)
• Better compliance and business process management

• Cost effective: Low deployment/ license cost
• Reliable and user-friendly UI/UX with simple navigation and configuration, attachable audit trails and mobile enabled solution
• Highly customisable as per business requirements, Python and PostgreSQL based web platform and ownership of source code to clients
• Seamless integration with all cloud platforms, Odoo apps, marketplaces & banking channels, 3PL logistics
• Strong worldwide community with 20,000 + community members and development centres across the world

• Information CoE & strategy for long term data analytics foundation and target operating model
• Enterprise Data Management on MDM strategy, assessment and BDW architecture advisory
• Data Integration in profiling, mapping, transformational rules and dimension management
• Advanced visualisation for multilayer, interactive visualisation for both data mining and consumption

• Evaluating and enabling data driven decision making 
• Rationalising data and measure discovery for clear KPI overview

• Data Security 
• Data Quality Management
• Master Data Administration
• Meta Data Convention
• Data Governance Structuring
• Data Technology Platforms
• Advanced Analytics on statistical modelling and forecasting, predictive analytics and machine learning