Finance Transformation

Finance transformation is about evolving finance and accounting to become service-oriented and strategic business partners. It requires making the people, process, and technology changes needed to align operations with the strategic goals of a business. The return on investment (ROI) can be significant, helping to reduce complexity and risk, make faster strategic decisions, lower costs, and deliver greater value.

But finance transformation is not easy. Resources will be limited and teams will change. Enthusiasm for new initiatives must be balanced with the need to stay focused on day-to-day responsibilities. In light of these challenges, the best approach is one that focuses on executing a coordinated set of activities over an extended period of time. When combined with executive support, centralized oversight, and disciplined project management, a structured and well-planned transformation initiative will generate a competitive advantage well worth the investment.

"The MorganFranklin team was key to a critical year of transformation for us ... The team members worked in a spirit of collaboration, enabling us to achieve our goals within the ambitious timeframe we had set for ourselves. 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
Chief Executive Officer, Mexx

Why MorganFranklin?

MorganFranklin works with clients to plan and implement sustainable finance transformation programs that generate quick wins and lasting value. We have experience across all components of finance transformation, from assessment and planning to implementation. We start with industry-leading best practices and tailor our services to align with each company's unique situation. To deliver the most value to our clients, we combine project management and finance functional expertise with technical accounting, business intelligence (BI) and data management, IT architecture and strategy, process improvement, and organization design skills. We also provide expertise in change management and training to facilitate the adoption of new processes, systems, and tools.

Our finance transformation model combines transformation roadmaps, performance measures, leading practices, data management solutions, IT architecture strategies, and effective program management offices (PMOs) to drive change and deliver lasting benefits.

Capabilities

Assess existing operations and gather requirements for future-state finance operating model and vision across organization design/capabilities, process, information management, and technology
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 actual 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