Finance Transformation

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Overview

The CFO’s role has transitioned beyond traditional book-keeping and cost management. CFOs increasingly focus on their core business and use process transformation and technology interventions to get real-time insights, make quick decisions and enable their finance departments to function more effectively.

Our team of financial and transformation experts identify opportunities and work with the CFO and the finance team to create a transformation roadmap by envisioning the future state and identifying the drivers that would enable them to reach the desired state. This change management process is managed and executed by our set of transformation experts in collaboration with the client’s core team and our Business Operations team.

There are multiple benefits that can be derived through finance transformation.

  • Improved accuracy
  • Reduction in revenue leakages
  • Strategic insights and faster decision-making
  • Enhanced compliance
  • Streamlined processes
  • Accelerated monthly closing
  • Improved customer and vendor relationships
  • Scalability and competitive advantage

How BDO India Can Help

        We provide a range of services within Finance Transformation:

A structured diagnostic ssessment brings in a standardised approach to transformation. Our experienced Transformation team ensures objectivity in decision-making while prioritising the interventions. The triggers for such assessment could be multiple. Based on the combination of triggers identified, we help choose the right assessment models by looking at process maturity and optimisation of key defined metrics and leakages.

Transformations succeed when they are incremental, cost-effective, and sustainable. The diagnostic assessment reveals the opportunities for improvements. Improvement opportunities are aligned with business objectives. We help clients tie their transformation strategy to business outcomes and goals. A clear end-state vision for the overall transformation effort would be established.

While driving transformation with or without digital intervention, it is important to anticipate and avoid roadblocks that would emerge while driving change. Our team of transformation experts deploy a framework which performs stakeholder analysis, manages resistance, opens communication channels and engages with the teams, draws up a plan detailing how the change program would be implemented and how the impact of the change on customer/ employees would be minimised.

Digital transformation is a foundational change in how an organisation delivers value to its customers. We at BDO India drive finance transformation through our in-house digitisation team and our business partners by building workflows and automation interventions to achieve greater business efficiency and operational resilience.

How BDO India Can Help

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