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Global manufacturer transforms finance with implementation of business analytics

Finance transformation with business analytics helps global manufacturer scale its finance capabilities to facilitate rapid growth.

Overview

Accenture has assisted this global manufacturer to transform its finance division into an enabler of the company’s future growth and productivity objectives. The design and deployment of business analytics and reporting solution will help free up resources within the client’s finance division to enhance its partnering capabilities and better serve as an enabler of enterprise-wide growth.

OPPORTUNITY

With plans to grow into a $15 billion company by 2017, the company’s focus over the last decade has been on organic growth and acquisitions. As a result, the organization has myriad disparate systems and processes in place. The company’s finance group leadership saw an opportunity to transform finance into an enabler of future growth and productivity objectives.

Its objectives were to:

  • Build a scalable finance capability to support future business growth.

  • Transform the role of finance to strategic business partnering, supporting investment and pricing decisions, new product innovation and expansion into key emerging markets.

  • Shift the focus of finance talent from data gathering and transaction processing to providing insight through standard metrics and predictive analytics.

Accenture assisted the client with a finance benchmarking assessment. This evaluation resulted in the initiation of a Business Analysis & Reporting (BA&R) program. Accenture was selected to lead the implementation phase in August 2013. This phase is expected to conclude in June 2015.

SOLUTION

The Accenture team, assessed the client’s business model to understand the true drivers of its businesses, also analyzing the client’s strategic plans and investor communications and interviewing the leadership. It then worked closely with the Chief Financial Officer (CFO), the business unit Group CFOs, as well as the leadership of Financial Planning and Analysis, Commercial Finance and Operations Finance across the businesses to help the company conduct a finance benchmarking assessment and formulate a future state solution. The development of a BA&R strategy was proposed.

The Accenture team leveraged Accenture’s strategic global alliances with Oracle and SAP, as well as its Accenture Delivery Methodology for SAP Business Intelligence and Oracle to help shape its approach. Leading Accenture subject matter advisors helped to validate the solution and deployment strategies, with Accenture’s centers of excellence in India and Milan assisting with solution design and deployment.

The BA&R solution utilizing Hyperion and SAP technologies has been designed and is now in a build, test and deploy phase.

RESULTS

The BA&R solution designed and deployed by Accenture will free up resources within the client’s finance department, helping finance to enhance its business partnering capabilities and serve as an enabler of enterprise-wide growth. The implementation of a comprehensive enterprise performance management solution will assist the client in its efforts to standardize along a common set of dimensions and metrics for managing the company. This will assist it to gain better insight into business forecasts, and facilitate better and more informed decision making. The implemented solution will also help drive efficiencies: one quick win, a process improvement to implement top down target setting, resulted in a 50 percent reduction in budget cycle time.