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Finance function diagnostics and benchmarking

Goals and Challenges

  • Implement a formalized financial strategy
  • Improve communication between finance departments and business units
  • Ensure that reporting quality and preparation time aligns with the company’s development targets and financial market requirements
  • Eliminate duplication of roles and authorities within the finance function

What we do

Deloitte CIS provides an integrated assessment of the finance function based on commonly accepted indicators and efficiency improvement criteria.

The assessment is performed both for each accounting section and reporting procedure, and for the finance department as a whole. Action plan for process optimization, as well as instructions and regulations, are developed to help to meet targets as established through chosen efficiency indicators.

This optimization can be aimed at facilitating communication between the finance department and other departments; coordination of work performed by accounting and finance departments of the head office and branches; ensuring that finance function staff is qualified and works effectively; formalization of processes, efficient resource allocation and automation of accounting processes.

Our approach

Our methodology for assessing finance department efficiency is set out in several stages.

How your business will benefit

  • Financial services will be streamlined, with focus on ensuring excellent communication with business units
  • Finance function processes and organizational structure, including performance indicators, will be formalized
  • Scalability of the functions to reflect growth and centralization of some functions at head-office level
  • Defined and well-reasoned allocation of responsibilities between financial service staff, based on performance indicators
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