Finance Transformation Propositions

Finance Transformation is complicated

All Chief Financial Officers (CFOs) want to grow revenue, cut cost and make their businesses more resilient. This is hardly a ground breaking statement, but why do so many Finance Functions fail to achieve this? There are several challenges that CFOs deal with and it is important to focus on matters with high potential returns, while managing risk effectively.

We regularly engage with CFOs and the following are some of the messages that we have heard about their challenges that they face. Do any of these challenges resonate with you?

Finance Transformation – CFO Hot Topics

There are many challenges that Finance Functions deal with, but we believe that
there are 4 hot topics that have the potential to materially impact the efficiency and
effectiveness of how Finance Functions operate:

1. Adopting digital innovation

  • Digital innovation opportunities in the finance space are not well understood and adopting a digital mindsetrequires change
  • “40% of the Fortune 500 are expected to no longer exist within 10 years if they do not evolve soon” - digitalistmag.com

2. Moving to the cloud

  • Most organisations have or are currently considering using the cloud more broadly in their business
  • “48% of enterprises are moving to the cloud to replace on premise, legacy technology today” - IDG / Forbes study 2015

3. Getting the right people to do the right things in the right places

  • Deciding on who and where to perform finance activities (centrally, de-centrally or outsourced) is sensitive and complicated
  • “The level of standardisation of processes related to BPO services makes it a perfect candidate for automation” - 2015 CIO.com

4. The connected Finance partner

  • Finance partners are not always connected with the right business intelligence to drive value
  • “Over 50% of ‘Thriving Not Just Surviving’ respondents said that finding good finance business partners is a major barrier” - CIMA survey

Why do Finance Functions need help?

Almost all Finance Functions can improve, but often opportunities to do so are not recognised either within the Finance Function or the wider organisation. Our propositions are designed to help Finance Functions address the broader finance
transformation needs, articulate the business benefits and find solutions to resolve the ‘hot topics’. Our 4 key areas address:

 1. Identify opportunities to improve

We can quickly help you understand and articulate how to:

  1. Use business systems, digital and cloud technologies better
  2. Get the right people to do the right things in the right way
  3. Enable finance business partners to provide business decision making support by providing the right information quicker

 2. Develop a vision, roadmap and business case

  • The digital age has enabled Finance Functions to automate many of the traditional accounting processes. Finance organisations are still lacking a clear vision and a roadmap towards a more optimal service delivery model, processes, systems and people competencies
  • We help organisations get clarity on their vision for the future by developing target operating models that sets direction, business objectives, efficient operations models, clear systems direction, utilise more efficient and effective standard processes and control frameworks

 3. Provide system integration and managed services

  • Many organisations are still using suboptimal finance systems that are hosted and managed by themselves. Some organisations are currently going through a new system implementation but have been unsuccessful in realising the expected benefits
  • We lead system integration programmes for new and upgraded finance, reporting and ERP solutions. We migrate on premise solutions to the cloud. Currently we service SAP, Oracle and Unit 4. Our tailored solutions are designed to ensure successful system integration projects that realise benefits, are on time and on budget

 4. Right people - right things - right places

  • The scope of business shared service centres and Finance Functions are changing as a result of the digital age. These functions will spend less time processing routine business transactions in the future and time managing data, reporting and driving innovation
  • We specialise on improving the effectiveness and efficiency of your finance, procurement, IT, HR and payroll functions. By using our shared service centres in India, Europe and in the UK to centralise routine activities we can free up time and resources to enable you to focus on other critical business challenges

How Sopra Steria can help

1. Identify opportunities to improve

We have a number of consulting assessment tools that have been designed to help you identify improvement opportunities for the Finance Functions:

How Sopra Steria can help

2. Develop a vision, roadmap and business case

Sopra Steria develop business plans and design target operating models that sets direction, business objectives, operations models, business and systems architecture, benefits, and roadmaps.

Our business design solutions  will help you design best practice business processes, people competencies, organisational structures and systems requirements that will fit your business maturity and aspirations.

  How Sopra Steria can help

3. Provide system integration and managed services

We help Finance Functions find innovative technology solutions for unique business challenges. We are a technology agnostic transformation service provider that focusses on:

  • Leading end to end system integration programmes during the design, construct and implementation of new and/or upgraded finance, reporting and ERP solutions
  • Migrating on premise solutions to the cloud based solutions
  • Providing hosting and application support services for SAP, Oracle and Unit 4

 We support the end to end systems transformation life cycle:

  • We identify digital improvement opportunities and system solutions that fit our clients’ needs
  • We support the redesign of OPEX-based operating models
  • Our market leading BPO team runs finance and accounting centres
  • We design finance system solutions based on client requirements and the latest available digital innovations
  • We construct new system solutions in an agile manner
  • We support end-to-end business programme and project management
  • We help independently test system and security configurations
  • We improve the quality of the data insight and perform the data migrations
  • We virtualise finance systems with cloud offerings and manage these systems based on unique client needs
  • We implement and deploy systems globally

  How Sopra Steria can help

4. Right people - right things - right places

  •  We help organisations by getting the right people to do the right things in the right places
  • Our core strengths are running and transforming the performance of back office (finance, procurement,HR and payroll) shared services and complex middle / front office services
  • Sopra Steria is the leading European-based provider of BPS (Business Process Services) that utilises advanced digital strategies and a lean culture
  • BPS provide a wide range of options to help you design a more efficient business operating model ,digitise your finance operations, and develop and operate shared service centres in India, Europe and in the UK

What has our BPS business achieved in 2015?

Our BPS Clients

How Sopra Steria can help

5. Sopra Steria BPaaS offering

  • The fully integrated Sopra Steria BPaaS (Business process as a service) offering was designed to provide a more integrated outsourcing option for IT, business process services and cloud hosting
  • The offering provides a stable platform, where business and IT support processes are managed by an integrated delivery team
  • The solution is built on the Sopra Steria cloud, leading support tools and BPS capabilities
  • Our BPaaS offering provides a variety of contracted service levels that range from basic entry level to more advanced service levels
  • The solution addresses the end to end back office functions: finance, procurement, HR, payroll, contact services and technology (software and hardware support)

 The benefits of an integrated Sopra Steria BPaaS offering:

  •  Improved integration between business and IT
  • Single hand-off with highly specialised team
  • Scalable and flexible pay-as-you-use model
  • Reduced capital expenditure
  • Greater leverage of shared resources through UK lead global (multilingual) support teams
  • Greater standardisation that reduces short term implementation cost and long term operating cost

What sets Sopra Steria apart from the rest?

Pragmatic and expert

We on-board and improve services that transform performances, bringing fresh thought using a variety of innovative approaches that can help the Finance Function find cost solutions to complicated issues.

 

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Proven

Our process design approach has been proven successful due to its unique focus on driving efficiencies but strengthening controls where required.

 

BR025V01-19Commercially Innovative

We align commercial structures, pricing and improvements to deliver your goals and to respond to future challenges.

 

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We work ‘with’ you

We support your retained teams in a collaborative manner and continuously help you explore design improvement opportunities.

 

Flexible

We tailor delivery to fit your risk-reward needs, leveraging global talent while retaining the local touch.

 

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Trusted

We are relied upon by some of the world’s leading organisations to deliver their confidential, secure and critical services.

 

Conclusion

Each of the challenges facing Finance Functions provides huge opportunities for the modern CFO to grow, protect and transform their organisation.

Whether it’s improving finance reporting, risk and control frameworks, making your business intelligence work for you  or you simply want to stand back and assess the efficiency of your processes, Sopra Steria can help you achieve these goals. Our Finance Transformation propositions are proven, innovative and pragmatic with an experienced team of experts to help you find  innovative solutions for your unique transformation challenges.