PERF RMANCE 04 - The Performance Portal - Ernst & Young
PERF RMANCE 04 - The Performance Portal - Ernst & Young
PERF RMANCE 04 - The Performance Portal - Ernst & Young
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Case study 1 — Developing a<br />
global finance strategy<br />
A global client and industry leader, with<br />
operations across the world, faced the<br />
challenge of globally aligning its disparate<br />
and bespoke finance organization. This<br />
included harmonizing process scope,<br />
organizational structures, target setting<br />
processes, people development and<br />
IT systems.<br />
Working with a small team from the client’s<br />
side, we developed an overarching vision<br />
and mission statement for the finance<br />
function, outlining the key principles of<br />
the future operating model for finance.<br />
<strong>The</strong> team developed three possible<br />
scenarios. Each looked at the implications<br />
for the finance functions with respect to<br />
processes, organization and governance,<br />
HR and people development, as well as IT<br />
systems. Together this formed the input for<br />
the Advanced Solution Center.<br />
" It’s different<br />
to our usual<br />
approach, there<br />
is much more<br />
involvement.<br />
This is about true<br />
ownership."<br />
“ It was the first time<br />
we had the chance<br />
to impact a strategic<br />
discussion”<br />
We brought together over 40 key<br />
decision-makers from around the globe,<br />
with representatives from all regions,<br />
business areas including shared service<br />
organizations and stakeholders from<br />
outside of finance for a two day event.<br />
After learning about the key aspects of<br />
the three scenarios, participants worked<br />
in small groups to develop their own<br />
interpretations of how the future finance<br />
operating model would function. Already<br />
on the first day, the groups presented<br />
their results to the plenary. By using<br />
our specific Advanced Solution Center<br />
techniques, it became quickly apparent<br />
that the individual groups had designed<br />
almost identical solution. This meant<br />
about 80% of the new finance strategy<br />
was agreed upon right away, including an<br />
updated version of the finance vision and<br />
mission statement. Before moving on to<br />
explore further details of the strategy, a<br />
leading academic on organizational design,<br />
as well as two representatives from other<br />
leading global companies, shared their<br />
views and experiences on finance strategy.<br />
This provided the chance to hear fresh<br />
perspectives and enabled the group to<br />
challenge established practices when they<br />
met the following day.<br />
At the end of the event, the key aspects<br />
of the finance strategy centered around<br />
the operating model, including processes,<br />
organization, people and IT, was defined<br />
and agreed upon. Documentation of the<br />
results was completed and circulated to<br />
the participants just two days after the<br />
event. <strong>The</strong> results formed the basis for the<br />
detailed strategy document agreed upon by<br />
the 40 key finance decision-makers.<br />
<strong>The</strong> key benefits achieved from the ASC<br />
event included:<br />
• Agreement of the finance strategy by all<br />
major decision-makers and stakeholders<br />
• Reduction in the time for alignment by<br />
about 30%<br />
• A strategy reflecting views and<br />
requirements from all regions and<br />
business areas, not just corporate<br />
headquarters