Transformation and Optimisation of Corporate Finance Function

In recent years, the Finance Function has become a significant part of corporate strategic decision-making. In order to become a strategic partner for business, the corporate finance needs to move its operating model strategically and put high demands on digitalisation and automation. This transformation of the Finance Function also requires changes in technical and non-technical skills of its representatives. PwC advisers are broadly experienced in projects concerning optimisation of the Finance Function and its set-up in compliance with the best practices.

Transformation of the Finance Function
Optimisation of the corporate Finance Function
Controlling

Transformation of the Finance Function

A transformed Finance Function allows the insight of the financial management in corporate strategic decision-making and thus increases its quality and reliability.

Change in role of the corporate financial team (business partnership)
Key skills of the financial team
Automation, robotisation and performance
Relevant data for strategic management
Cloud solutions of ERP platforms
Tools (robotisation, online platforms of smart documents and templates, etc.)
Compatibility with regulatory requirements

Optimisation of the corporate Finance Function

Optimisation of the target Finance operating model increases the efficiency of corporate cost management, sets efficient control mechanisms and lays emphasis on performance improvement while maintaining or reducing the current costs.

Target operating model, organisations, processes, systems, people
Finance organisation (roles, activities, responsibilities – RACI matrix, controls)
Optimisation of financial processes (process mapping, gap analysis, improvement of process efficiency, design of future processes, control designs, data flow analysis)
Process and capacity management – capacity planning (adequacy of utilised FTE and their effectiveness, changes to organisational structure concerning finance)
Shared services / outsourcing consulting
Post-merger integration

Controlling

Performance measurement and management (by appropriate KPIs setting), reporting quality for all levels of company management and other integral parts of controlling, including the setting and ensuring of outsourcing of transactions, belongs among the key services provided by PwC MI Finance department.

Managerial and statutory reporting (optimisation and rationalisation of reports including automation)
Budgeting and forecasting (preparation / design / redesign of the financial plan, comparison / analysis of the current situation vs. plan, standardisation and consolidation of analysis inputs
Calculations (regarding price, costs and plans)
Dashboard, performance measurement and KPIs setting
Cost optimisation (financial or even other departments as required, analysis of the current situation and proposal of the future solution while taking into consideration the expected trend
Optimisation of the chart of accounts – adjustment and mapping of CZ GAP and IFRS accounting data including reporting
Consolidation of the chart of accounts with respect to accounting dimensions
Outsourcing of accounting or selected accounting processes – setting associated processes and SSC functions
Performance of operative accounting tasks