CFO Agenda

Investment and M&A

Mobile Financial Services

Strategy and Business Planning

Operating Model & HR Management

PMO and Transformation Programs

Policy and Regulatory

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SME Business Support

CFO Agenda

The role of the finance department in financial operations has evolved from that of a transactional accounting provider to more of a strategic/advisory partner. In this sense, the finance function should be a corporate strategic partner, simultaneously spearheading planning, driving growth and monitoring performance.

 

To reach this objective, the Finance function must (i) interact with a variety of stakeholders; (ii) streamline its accounting activities; (iii) clearly define the reporting line demarcation across functions, regions and corporate levels; and (iv) build a strong Finance Community.

 

Euromena Consulting can assist you in achieving this goal using a tried and tested methodology which is focused on 5 main services:

 

  • Financial Planning: developing financial models to simulate different scenarios and assess potential impacts

 

  • Accounting & Treasury: revamping the accounting process to reduce low added -value tasks or centralizing them in an “accounting factory”; secure cash management by implementing a range of key controls

 

  • Financial Controlling: designing and implementing Financial Control Department organization in order to enhance its efficiency and support in business monitoring, revenue growth and cost management

 

  • Risk Management: applying early warning systems in order to adapt to new strategic directions and developments.

 

  • Procurement & Supply Chain: benchmarking and defining best-in class P2P processes, covering (i) procurement policy definition and communication; (ii) contracting and calls for tenders’ management; (iii) markets and contracts implementation; (iv) reporting

CREDENTIALS

Corporate Fully-Fledged Financial Plan

Client: GCC Government Agri-business entity

Engagement focus: fully-fledged corporate financial plan development

Key activities:

  • Conducted a series of interviews and meetings with management layers to obtain data and inputs
  • Assessed respective revenue, operational and capital expense drivers and integrated them into the financial model
  • Assessed multiple scenarios to optimize financing terms (debt/equity ratio)
  • Presented to top-management team / ensured financial model handover to CFO team

 

Results achieved:

  • Fully-fledged P&L, Balance Sheet and Cash Flow statements
  • Project financing proposed structure
  • Simulation of scenarios by embedding various commercial and financial levers

Reorganization of the finance department

Client: Middle Eastern Mobil Telco.
Engagement focus: Organizational design.
Key activities:

  • Assessed the current Finance Function organization, productivity and contribution to business monitoring
  • Mapped all the current reporting processes, all used tools and information systems
  • Designed future Finance organization and sizing
  • Detailed Job descriptions in liaison with HR
  • Defined decision matrix per sub activity
  • Conducted sessions of validation with Executive Committee and VPs

 

Results achieved:

  • Drew up change management road map
  • Presentation to the VPs and the CEO for final decision

Strengthening of revenue and cash control process

Client: Sub-Saharan Africa Telco

Engagement focus: Reinforcement of control processes on revenue (revenue assurance). Securement of revenue and payment flows through the implementation of automatic interfaces between Information Systems.

Key activities:

  • Defined and implemented key controls to secure revenue and cash across the value chain though a check-list of controls to be performed
  • Enhanced the reliability of financial data through recurring reconciliations
  • Defined functional specifications and assisted in the implementation of automatic interfaces between Commercial IS Accounting IS to guarantee the integrity of revenues and payment flows

 

Results achieved:

Process and hand-over methodology to strengthen revenue and payment controls

Revenue Assurance Diagnosis

Client: Leading GCC Content Provider

Engagement focus: Revenue Assurance diagnosis

Key activities:

  • Reviewed the whole Revenue Assurance function to ensure that key RA activities were covered
  • Assessed the sizing of Revenue Assurance team
  • Detailed recommendations to improve the RA department

 

Results achieved:

  • Comprehensive diagnosis of the RA department
  • Reorganization recommendations

Securing cash management

Client: African Incumbent Operator

Engagement focus: control and reconciliation of financial flows within the internal distribution network

Key activities:

  • Defined and implemented daily reconciliation of sales with cash-in and stock variation, at the level of each agency
  • Outsourced cash collection to an external company
  • Specified and developed an automatic daily interface for cash-in between the billing system and the Finance ERP

 

Results achieved:

  • Significant reduction in fraud at the agency level
  • Control of bank conditions and full bank reconciliation at d+2

Post Deal Transformation Plan of a Telco and its Subsidiaries in Africa

Client: North African Telecom Group having acquired 3 operations in Africa

Engagement focus: transformation around three major processes (Revenue Assurance, Reporting and Cash Management)

Key activities:

  • Reengineered the entire revenue cycle (customer mgt, CDR’s collection and valuation, invoicing and payments) for mobile, fixed and interconnection
  • Conceived and implemented a monthly report to monitor activity through products
  • Implemented cash and treasury control processes

 

Results achieved:

  • Reassurance of 6% of total revenue (Fixed, Mobile and Internet) for one of the subsidiaries
  • Harmonized processes
  • Subsidiaries certified ISO 9001

Securing Fixed Broadband revenue

Client: Sub-Saharan African Telco

Engagement focus: Securing Fixed Broadband revenue for a large African Operator

Key activities:

  • Defined methodology to enable reconciliation between technical databases and Billing systems
  • Coordinated error resolution with all contributors (technical teams, sales representatives, etc.)
  • Re-engineered processes to ensure the alignment of all contributors
  • Trained and informed contributors of the new process
  • Investigated tools and possibilities for the enhancement of systems by further automation

 

Results achieved:
In progress

Key contacts

Fayçal El Darwiche, Founder and Partner, f.eldarwiche@euromenaconsulting.com