Finance Transformation Initiative

Following an initial request from the CFO of a leading oil & gas E&P company and his senior leadership team to support the optimization of the Finance Shared Service Centre, we partnered on a project that evolved into five distinct work-streams, supporting the transformation of the Finance Organization.

Client Challenges

• Lack of process documentation and standardization
• Incomplete set of Internal Controls 
• Unstructured Master Data Management practices and ownerships

Synergyc solution

• Early onboarding of Client key stakeholders
• Processes deep dive
• Creation of “Level-5” Process Documentation
• Establishing a robust Internal Controls framework across all Finance processes
• Design and delivery of Client’s Master Data Target Operating Model

Achieving the results

• Process standardization and harmonization across Countries
• Improved Management visibility of the E2E Accounting processes
• Clear set of Controls available across all Finance function, including testing methodology and schedule
• “One Master Data Team”, responsible of ensuring accuracy and acting as Center of Excellence across the whole organization
• New templates validated across Functions ensuring data consistency and minimizing time waste or repeated requests
• Enhanced communication by providing the needed accountability and control
• Improved performance accountability by applying industry standard KPI’s