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Financial function redesign
An effective formalized structure of a company’s financial functions will allow it to distribute responsibilities for different tasks and allocate appropriate resources for their fulfillment. In terms of restructuring, we provide assistance in:
- Defining the optimal organizational structure and size of the financial function, based on the scale of the business and the scope of the CFO’s roles and responsibilities;
- Development of organizational documentation, such as procedures for subdivisions and job descriptions.
At Deloitte, we understand that creating shareholder value is critical to any business, public or private. Let us discuss our experiences and how we can assist you in your journey.
Shared services centers
The concept of financial shared services implies the merger of financial functions sharing similar tasks in service centers within a corporate and management structure. In the process of reorganization, a new business unit is set up which performs all the financial and accounting operations for all the group’s companies.
With respect to the reorganization, we provide support in:
- Centralization of the financial processes requiring a high level of competence (period closing, transformation, tax accounting and reporting, etc);
- Consolidation and unification of routine processes (accounts receivable and payable, invoicing, salaries, etc).
The initiative will result in improved quality and reduced expenses for the company’s financial and accounting operations.