Is your fi nance function leading-edge?

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PwC’s Finance Function Diagnostic: a 360º view of your organisation’s finance function and assessment of its overall effectiveness

Contact

Contact us for an informal discussion aboutyour individual situation and considerations.

François JaucotPartner ConsultingTel: +32 2 710 41 22 Email: francois.jaucot@pwc.be

Pierre WangenDirector ConsultingTel: +32 2 710 41 20 Email: pierre.wangen@pwc.be

PwC fi rms provide industry-focused assurance, tax and advisory services to enhance value for their clients. More than 161,000 people in 154 countries in fi rms across the PwC network share their thinking, experience and solutions to develop fresh perspectives and practical advice. See www.pwc.com for more information.

“PwC” is the brand under which member fi rms of PricewaterhouseCoopers International Limited (PwCIL) operate and provide services. Together, these fi rms form the PwC network. Each fi rm in the network is a separate and independent legal entity and does not act as agent of PwCIL or any other member fi rm. PwCIL does not provide any services to clients. PwCIL is not responsible or liable for the acts or omissions of any of its member fi rms nor can it control the exercise of their professional judgment or bind them in any way.

© 2011 PwC Belgium. All rights reserved. In this document, “PwC” refers to PricewaterhouseCoopers, which is a member fi rm of PricewaterhouseCoopers International Limited, each member fi rm of which is a separate and independent legal entity.

PwC’s Finance Function Diagnostic

How can it help you?

• Improve your Finance Function

• As input into a strategy and/or improvement plan

• As a basis for a blueprint for Finance’s future direction

• To identify key issues and improvement priorities

• As a benchmark with world-class qualitative best practices

• As a health check on value and governance and to understand current problems/issues

• To provide comfort on Finance performance to the Board, the CEO, the CFO, the Executive, regulators

Today’s CFOs and Finance Directors face a complex, constantly changing and challenging business environment. The fi nance function needs to be fl exible, support the company’s strategies and deliver transparent, effi cient, forward-looking insight, while at the same time managing risk and compliance and effectively deploying and allocating scarce resources.

The balance of insight, effi ciency and control will depend on the individual organisation; many have had to dedicate time and resources to compliance thereby missing out on opportunities to provide insight and improve performance. High-performing fi nance functions will be looking to redress the balance.

PwC’s Finance Function Diagnostic is built around the fi nance function’s three objectives: Insight, Effi ciency and Control, plus an additional dimension, Enablers.

EnablersEnablers• Finance organisation

and operating model• Finance people• Finance systems and

data management

Insight• Strategy and planning,

budgeting and forecasting• Management reporting and

business analysis• Continuous improvement,

change management and benefi ts management

Control• Treasury, working

capital and cash management

• Risk management, governance, compliance and internal controls

• Tax function effectiveness

Effi ciencyEffi ciency• Purchase to pay

• Order to cash

• General accounting and fi nancial reporting

Our approach Our tools

• Confi rm scope

• Identify stakeholders and interviewees

• Plan interviews and workshops

• Kick-off meeting

• Prepare interviews (tailor questionnaires)

• Perform interviews: perform diagnostic assessment during interviews with identifi ed individuals

• Analyse fi ndings and challenge against best practices to:

– Identify improvement area’s

– Identify quick wins

– Develop recommendations

– Develop high-level action plan

• Draft deliverables

• Have management meetings to agree on fi ndings, improvements based on best practices, targets, prioritisation and action plan

• Present fi nal report (Maturity profi les, evaluation, improvements & recommendations, action plan)

• Agree on next steps

Finance function effectiveness diagnostic wheelA tool comprising a set of structured questions built around the 12 components of the Finance Function; it is supported by a narrative to provide guidance and assist in collecting the relevant information and performance measures.

Finance assessment toolkitAn integrated set of fi nance function-assessment tools that enable short, medium and deeper fi nance assessments. This is a structured approach that can be tailored to enable the best fi t based on the client’s requirements.

Global best practicesA compilation of best practices content and benchmarking tools on more than 150 critical business processes. This knowledge base provides instant access to a unique combination of process improvement resources you can apply directly to your business.

The Finance Function Diagnostic can be conducted over a 2-to-5-week timeframe.

PwC has developed several tools to support the Finance Function Diagnostic.