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
