Given the importance of enterprise performance, the finance function must move beyond its traditional role and increase its support to the steering of the strategic, financial and operational activities of the enterprise. The objectives are to maximise the return on capital employed and cash generation to accelerate the achievement of profitable growth.

On the strategic dimension, there are six top issues facing CFOs: supporting the CEO in the definition of the strategic plan, aligning financial planning to that strategic plan, positioning the function as a key player in business transformation and value creation, making good investment decisions, defining the right management framework to optimise the enterprise’s financial performance, and managing information to guarantee the comprehensiveness and precision of the financial indicators of value creation. 

On the more operational dimension, where the objectives are to maintain and increase competitive advantage, the challenges are to secure and improve direct margins, strengthen operational and financial prediction capability, control operating costs and accelerate the generation of free cash flow.

To address these issues, the finance function must rethink its organisation, develop its skills and optimise its activities, where appropriate taking advantage of digital developments.

Get in touch

Cyril Capello

Partner

Phone 00 33 (0)1 55 46 13 00

Email finance.france@argonandco.com

Get in touch

Crispin Mair

Partner

Phone +44 (0) 845 644 6972

Email finance.uk@argonandco.com

Finance case studies

Core Finance Model: Elior Group

Core Finance Model: Elior Group

Elior Group, one of the world’s leading operators in contract catering and support services, has become a benchmark player in the business & industry, education, healthcare and leisure markets (more than € 6 Bn revenue).

The goal of the project was to review the enterprise performance management framework, in line with the new corporate strategy.

Our role

  • Assess performance management needs of the businesses and corporate, in line with the new corporate strategy
  • Redefine performance management principles, i.e. analytical dimensions, organisational hierarchies, level of granularity of financial and non-financial information
  • Redefine some business rules like overhead cost allocation, define KPIs and produce a POC of new dashboards
  • Perform a gap analysis and build an implementation roadmap

Results

  • New enterprise performance management framework (‘Finance blue book’)
  • New analytical dimensions in line with strategic challenges and business needs
  • New performance management dashboards
  • Training of BU CEOs and CFOs regarding new dashboards
  • Implementation plan

Finance Transformation plan, including ERP implementation: Property management / Real estate

Finance Transformation plan, including ERP implementation: Property management / Real estate

Foncia Groupe is a French property management and real estate transaction company. With 550 branches across France, the company is a major French property administrator.

The assignment aims to transform the finance function and tools to support the group growth, size and associated complexity.

Our role

  • Frame finance transformation plan (dimensions to monitor business performance, target processes and target organisation)
  • Collect finance needs and formalise request for proposal (RFP) to select the future finance system (ERP)
  • Co-management of the ERP project (finance and procurement scope) alongside with Accenture (third party integrator)
  • Provide expertise to functional requirements
  • Drive project Change Management and training

Results

  • Collection of Foncia functional /technical needs and formalization of an RFP in a timeline of four months
  • Evaluation of the main ERP solutions of the market (Oracle, SAP, Workday, etc.)
  • Alignment of Foncia Management for an innovative solution (Workday Finance)
  • Implementation of the ERP (procurement, accounting and reporting) in 14 months in France

Finance operating model: Corporate Business Travel industry

Finance operating model: Corporate Business Travel industry

Amex GBT is a leader in the business travel services industry with a global presence in nearly 120 countries and yearly sales of 1.5bn$.

Amex GBT was carved out from Amex Group and its CFO wanted to ensure that the Finance function was effective and efficient. The CFO need was to design a new operating model for Finance, as well as an implementation roadmap.

Our role

  • Define a new operating model for the Finance function with clear building blocks and their interactions
  • Build a high level process map to capture all processes performed by the Finance function
  • Design a detailed RACI matrix and target organisation charts
  • Assess current sizing by process and propose target sizing
  • Define skills requirements and target career paths

Results

  • New Finance function organisation reflecting target operating model
  • Clarified roles and responsibilities within Finance including with outsourcers
  • Increased service quality and efficiency for the Finance function

 

Over the counter Project Management Office

Global petrochemicals manufacturer

Over the counter Project Management Office

SABIC is a global petrochemicals manufacturer producing a diverse range of products including commodities, plastics, agri-nutrients and metals. It is the fourth largest chemical producer globally with an annual turnover in excess of US$39bn.

SABIC needed to improve their end-to-end processes to restore service levels (DT1P) that had been adversely impacted by an ERP go-live as well as significant organisational change.  A need for a Project Management Office was identified to closely support the individual workstreams in the delivery phase to secure the targeted benefits.

Our role

  • Support in directing, controlling and coordinating activity across all content workstreams
  • Provide good practice guidance on the project management processes in the context of a cross-functional global business change programme
  • Identify any risks to delivery of the identified programme benefits and propose mitigation strategies
  • Provide project administration support to ensure the effective control of project activities and costs

Results

  • Customer service rate improved from 67% to 93%
  • A structured milestone and activity tracker, including risk management and action tracker
  • Business requirement workshops and workstream roadshows facilitated
  • Programme governance in place including full meeting cadence and monthly steerco meeting
  • Project communication plan with periodic communications cascaded to stakeholders

Order to cash process improvement

Global biopharma

Order to cash process improvement

Bristol-Myers Squibb (BMS) is a global biopharma company focused on delivering innovative medicines to help patients fight serious diseases.

Following the shift of their business, financial, procurement, HR and IT services into a European above market capability centre, BMS was looking to standardise and optimise processes to improve operational efficiency and enhance the customer experience. The client needed our help to identify improvement opportunities in the end to end order to cash process.

Our role

  • Assess existing order to cash processes across 20+ EMEA markets
  • Benchmark processes against industry best practice to identify improvement opportunities
  • Evaluate and prioritise improvement opportunities to establish an implementation roadmap

 

Results

  • Identified 37 opportunities to improve operational efficiency and increase customer satisfaction
  • Workstreams prioritised based on a number of factors (complexity, benefits, impact, resources, strategic alignment)
  • Stakeholder buy-in across all levels
  • A manageable programme of 20+ workstreams  with a PMO to manage progress

Order to cash process assessment

Global winemaker and distributer

Order to cash process assessment

Treasury Wine Estates is a global wine making and distribution business with revenue of AUD$ 1.7 billion. It has some of the most recognised and awarded wine brands in the world, including Penfolds, Stag’s Leap, Etude, Pepperjack, Wolf Blass, Lindeman’s and many more.

The company had most of the core supply chain processes in place, but needed to improve the supporting systems and their performance reporting. The business wanted to review and improve its order to cash process.

Our Role

  • Review the order to cash process of European operations using the scprime® approach to identify actions to improve process maturity
  • Develop a prioritisation matrix to identify quick wins
  • Design an improvement programme for the next year
  • Assess whether a change to organisational structure was required to improve alignment with business processes and drive the proposed changes

Results

  • Objective review of current process maturity and process gaps
  • Roadmap to bring the supply chain processes up to the desired state
  • Vision of the future supply chain organisational structure
  • Asked to conduct a similar assessment on the company’s Asian customer service centre