Finance Transformation

Fluctuating markets, mounting regulatory compliance, and rapid advancements in technology have forced organizations to frequently assess and redeploy business strategy. As companies regularly re-evaluate and change course, the finance organization has evolved into a competitive differentiator—one that provides critical decision support and analytic capabilities to business stakeholders.

Lengthy, expensive transformation efforts are a thing of the past, as management is pressed to strengthen controls, realize efficiencies, and improve analytic capabilities in real time. To turn this change into opportunity, businesses should adopt a targeted view of "finance refinement" focused on incremental improvements that support the long-term vision.


Finance Transformation Challenges

As a company embarks on a finance transformation, there are a number of challenges that it will encounter across all levels of the finance function. A well-defined, integrated approach will help companies overcome these challenges. It is important to remember that finance transformation is a constant journey of improvement. Download the White Paper

Why MorganFranklin?

MorganFranklin understands the complex circuitry of the finance function and the change management needed to transform it. Our teams develop and deliver cost-effective solutions that span industries, regions, and operating models. We identify and sequence improvement initiatives to maximize value across the finance function and organizations at large. This requires a more agile and targeted approach toward transformation—one that rewards lower costs and utilization of existing assets to effect change. Because we work at the intersection of technology, process, and organizational effectiveness, organizations turn to us to define and deliver on transformation agendas.

"The MorganFranklin team was key to a critical year of transformation for us. Their willingness and flexible approach were greatly appreciated during a time of restructure and the integration of global teams. Over the course of the year, we saw great improvement for the business in areas such as cash forecasting diagnostics and processes, financial business systems, and treasury processes, including bank account reduction."

Doug Diemoz
Former Chief Executive Officer, Mexx


Capabilities

  • Assess existing operations and gather requirements for future-state finance operating model
  • Monitor project interdependencies to ensure on-time delivery
  • Create finance transformation roadmaps to align strategic objectives and stakeholder expectations
  • Fully define key performance measures and practical mechanisms to monitor performance
  • Align strategy and approach to financial systems, data management, and reporting
  • Execute robust change management plans to support adoption and delivery
  • Build understanding of business requirements, risks, and complexities

Impact & Value

  • Reduce costs
  • Shorten close cycle
  • Achieve greater efficiencies across finance operations
  • Align daily finance and accounting operations to strategic objectives
  • Eliminate redundant tasks and reduce manual activities
  • Measure success with KPIs
  • Improve quality, accuracy, and timeliness of financial information
  • Focus on value-added analytics to inform business decisions
  • Improve internal controls
  • Increase competitive positioning
  • Assign limited resources to projects with highest returns