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