Finance and Shared Services

Providing finance leaders with the insights they need to make good decisions and power performance.

Finance is doing more than ever before

Today’s CFOs are faced with a rapidly changing business environment that’s constantly presenting new challenges. To deliver on their companies’ strategies, they need to be supported by a flexible finance function that delivers predictive insight and analysis, while at the same time continually increasing efficiency, control and compliance.

PwC’s finance consultants have the insights and the experience to help CFOs improve the value of their finance function.

  • Top performers spend 40% less time to close and report results internally than median performers
  • Top performers have 63% more FTEs in business partnering roles than median-performing companies
  • Top performers spend 20% more time on analysis vs. data gathering
  • Top performers have significantly higher levels of automation while also managing costs (Finance cost as a percentage of revenue is 0.6% for top performers and 0.9% for median companies)
  • 65% of global organisations made cost savings of up to 40% of their support functions by creating shared service and/or outsourcing.
  • Shared services are still a key driver for efficiency increase and cost reduction. However, the way shared services operate is changing. Industry leaders now expect digitalisation and multi- functional service instead of finance only.

Learn more about what sets top performers apart and whether or not you're keeping up:

Explore our Finance Effectiveness Benchmark study

Finance is doing more than ever before

 

How we can help

We have a wealth of experience designing and implementing multifunction shared services, outsourcing and robotic process automation (RPA) solutions. We understand the array of options available and can help you choose the model that will best support your organisation’s objectives.

PwC stands out from the pack through our end-to-end approach to providing shared services and outsourcing support:

  • Shared services set-up - feasibility, business case, location selection, detailed design and implementation. All supported by project plans and benefits realisation frameworks.
  • Outsourcing strategy and BPO partner selection - including rigorous provider selection process, service level agreements and contract negotiations. We provide an outsourcing health check for already established relationships.
  • Transition & Implementation management - with the best-in-class transition experts and PwC’s proven methodology, we ensure your shared services and outsourcing programs are executed on time and the risks are mitigated.
  • Shared service health check - maturity assessment, including assessment of your performance across several attributes: governance, controls, service level performance, and also process and technology maturity, to drive efficiency.
  • Operational excellence - including process improvement, operating design and implementation of enabling tools and technologies like process automation and AI to drive efficiency, insight and cost-reductions.

Our approach delivers best-in-class shared services and outsourcing arrangements. We work with you from initial strategy to implementation and optimisation.

 

PwC can bring the right expertise and work collaboratively with you to understand your strategic and operational challenges and are committed to helping CFOs solve important problems.

Enterprise performance management, or ‘EPM’, is the active management of performance across all areas of the business. This involves reviewing past performance – but is equally about having the right information and insight to be agile and confident in making decisions about the future.

The finance practitioner has evolved from a traditional number-crunching accountant to a true business partner. The finance function of the future is one that removes silos and creates meaningful links between data sources to analyse and steer performance across the entire value chain.

More than ever before, organisations must respond rapidly to changing dynamics in order to deliver on their strategic priorities and outpace the competition. Making the right business decisions quickly and confidently is integral to success. And good information needs to be at the heart of those decisions. Our EPM services assist organisations with the following key areas:

  1. Set the right business targets. A tight alignment between your business strategy and the KPIs you use to set goals, coupled with an aligned and motivational workforce reward model will create superior performance across every aspect of the business.
  2. Integrate business plans. An integrated sales, operational and financial planning process. Driver-based planning and sensitivity testing allows you to optimise how you allocate your business assets and more accurately predict future earnings.
  3. Improve business reporting. When the entirety of your organisation’s data is being captured, you can access the right information at any point in time to reveal what’s really happening and make decisions with confidence.
  4. Predict outcomes with analytics. Analytics lets you test your strategic decisions and discover patterns based upon the huge sets of data available to your business. Analytics moves you towards agile decision making based on an assessment of future outcomes.
  • We work with clients to help them articulate their vision for Finance and to convert this into a set of strategic goals for the function. Defining the end state for Finance ensures that transformation is focussed on the right outcomes and sets the boundaries within which change will take place.
  • We conduct a detailed assessment of how Finance is currently operating to act as a baseline for the transformation and identify the areas of focus in order to deliver the vision for Finance.
  • We then work collaboratively with you to design a target operating model for the Finance function. This model describes the way that the function is organised to manage and execute operational decisions and covers the process, system and data architecture, organisation and capability framework.
  • Once the future operating model is defined, we work with clients to develop an appropriate implementation roadmap which ensures the function can transform from its current ways of working to the new target model and ways of working whilst continuing to serve the business.

We have a wealth of experience designing and implementing shared service centre, outsourcing and robotic process automation (RPA) solutions. We have a thorough understanding of the leading models and how they fit different organisations’ designs and imperatives.

To navigate today’s complex sourcing options, organisations need to apply deep, strategic rigour to the evaluation, management and execution of their sourcing commitments. At PwC, we embed aligned areas such as accounting, tax, governance, and risk and control into the sourcing activity. We work with you from initial strategy to termination or renegotiation.

Contact us

Stephen Loadsman
Partner
Tel: +61 7 3257 8304
Email

Steve Kranes
Partner
Tel: +61 2 8266 8465
Email

Ian Hockings
Partner
Tel: +61 3 8603 2610
Email

Shane West
Partner
Tel: +61 2 6271 9265
Email

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