Take a leap towards a futuristic finance function with Grant Thornton dGTL

Business leaders have started recognizing the strategic value created by re-defining and re-designing  finance. We enable business leaders to reimagine finance, provide new revenue and value producing opportunities by leveraging digital technologies.

Survey

Grant Thornton dGTL's Digital Finance Maturity Assessment

Ever wondered, how digitally mature is your finance function? Take the survey curated to help finance leaders discover how their function fairs in terms of maturity amongst peers and leaders across the Indian industry. Take the survey now.

Our services

Strategy and Governance
Finance Maturity Assessment

Service offering:

  • Assess the maturity of the current Finance function using GT’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

Client issues addressed:

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

Benefits:

  • Identification of opportunities and a high-level roadmap to improve the efficiency of the Finance function
Finance Target Operating Model (TOM)

Service offering:

  • 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

Client issues addressed:

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

Benefits:

  • An efficient and “future ready” Finance organization
  • Leverage contemporary technologies to reduce manual processes
  • Increased strategic influence in the organization
Shared Services and Outsourcing Advisory

Service offering:

  • 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

Client issues addressed:

  • Lack of standardized and automated processes
  • High cost to serve
  • Limited scalability due to decentralized Finance function

Benefits:

  • Financial benefits through lower cost to serve
  • Reduction in manual and non-standardized work
  • Greater customer orientation
  • Allows Finance to focus on business partnering
Process & Operations
Finance Assessment and Diagnostics

Service offering:

  • 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 organization, process, systems and controls and technology with industry leading practices and recommend right-fit solution

Client issues addressed:

  • Re-structure finance and accounting function from traditional organization 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

Benefits:

  • 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
Finance Process Optimization

Service Offering:

  • Improve efficiency, accuracy, and timeliness of Record-To-Report (R2R), Procure-To-Pay (P2P) and Order-To-Cash (O2C) processes
  • Review of policies, procedures and controls of R2R, P2P and O2C processes
  • Improve timeliness, reduce rework, minimize errors, and maximize analysis time associated with the Financial Close
  • Increase standardization and timeliness of account reconciliation
  • Assess existing reporting capabilities, systems, and data elements for report simplification and automation 

Client issues addressed:

  • Stretched period end close process with regular out of period adjustments, 
  • Extended MIS/ stat reporting with delayed financial consolidation
  • Significant manual and detective controls
  • Unnecessary hand-offs to complete tasks
  • Improved R2R, P2P and O2C processes with standard and clearly defined SOPs and policies

Benefits:

  • Ensures compliance with reduced period end close
  • Centralized and consumable financial data
  • More time for financial result analysis with improved decision making
  • Clearly documented policies and procedures to align staff and tie-back to controls
  • Improved speed and accuracy of data and information output
  • Sustainability in the operating model to absorb and respond to dynamic, and changing report requirements
Technology
Vendor GST Invoice Automation

Service offering:

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

Client issues addressed:

Most organisations process Accounts Payable (AP) manually by keying in the invoice details into their ERP systems (SAP, Oracle, etc.) and process payments -manually, which has the following issues:
  • Manual & time consuming
  • Data accuracy
  • Scalability when there is huge transaction volume
  • Potential control issues

Benefits:

  • 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
Financial Planning and Analysis (FP&A)

Service offering:

  • FP&A maturity assessment and diagnostic study
  • Alignment of FP&A to overall Strategy through Business Analysis – Strategy workshops
  • Define Scope, metrices and establish leading practices based on robust market research
  • Identification of right talent and build Center 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

Client issues addressed:

  • Budgeting takes too long with multiple versions making it hard to track
  • No standard policy or operating procedures across organization
  • 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

Benefits:

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

Service offering:

  • Business process maturity assessment and diagnostic study and align to overall Strategy 
  • Define Scope, metrices 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

Client issues addressed:

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

Benefits:

  • 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
Open-source ERP

Service offering:

Odoo (On-Demand Open Object) is a modern age open-source ERP. Some of the key services that we offer are:
  • 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

Client issues addressed:

Small and medium enterprises, particularly, E-commerce, Retail, FMCG, Manufacturing, Pharma, Oil & Gas and Service sector, with fragmented systems or in Tally or any third-party ERP or no ERP and manual driven processes with less or no controls have been considered for Odoo ERP implementation with issues addressed:
  • 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

Benefits:

  • 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 Customizable 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 centers across the world
Management Information Services (MIS)

Service offering:

  • 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 visualization for Multilayer, interactive visualization for both data mining and consumption

Client issues addressed:

Business Intelligence in:
  • Evaluating and enabling data driven decision making 
  • Rationalizing data and measure discovery for clear KPI overview

Benefits:

  • 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
Insight

Digital Finance Predictions: Six predictions that can help finance leaders to prepare better

Our Solution

A Smart platform for reconciliation processes

Case study

Reviewing business process and ERP software of a leading manufacturer and supplier of steel