Successful companies set up the key design principles and strategy to be adopted by the finance function before interim designs for Day One are considered. Typical design principles may include: the level of process and system customization, the degree of centralized governance, and the globalization of processes and procedures.
In defining their financial future-state operating model—organization, locations, reporting structures, policies, processes, technologies and workforce—the most effective companies treat Finance function integration as a major change program. The effort can involve major modifications in how one or both of the formerly separate organizations deliver their finance operations.
Finance is an area ripe for synergies after a merger. Indeed, Accenture has seen the total cost of the function drop by up to 40 percent—but many companies fall substantially short in realizing the expected synergies. They also tend to underestimate integration costs. Perhaps most problematic, integration teams tend to get caught up in the urgent task of preparing for Day One, and so may relegate synergy management and tracking to the bottom of the priority list.