Expert capacity solution for finance functions and shared service centers (FRO)

The Client turned to Deloitte requesting the support of dedicated consultants who would help the Group carry out a transfer of processes from overseas locations to a shared services center (SSC) based in Poland. The engagement covered several countries at once. One of the major challenges was the necessity to ensure an efficient and swift take-over of functions and transfer of processes to the SSC, while ensuring business continuity. Deloitte’s consultants were working on several accounting systems. The project involved the participation of over 15 persons from Deloitte Central Europe (mostly from Poland, with representatives of Deloitte Lithuania and the Czech Republic who joined the engagement as part of the flexible use of personnel resources). 

Within the provision of Financial Resources Outsourcing services Deloitte’s consultants supported the Client at different levels of organizational structure, such as Team Manager, Team Lead, AP Accountant, GL Accountant, Junior Accountant, Credit Control Analyst. Scope of services delivered by Deloitte included, among others, support in: 

• accounting processes,
• process optimization, improvement of tasks efficiency,
• development of procedures for selected processes,
• team management,
• communication between shared services center and the business,
• transition of processes,
• induction of new employees hired by the Client.

Support provided by Deloitte gave rise to comprehensive cooperation with the Client in multiple fields and entailed both taking over and implementing processes, as well as providing assistance with team management, handling staff shortages and improving process efficiency of the SSC in a flexible manner during periods of increased workload.

The Company turned to Deloitte requesting temporary take-over of a managerial function within its regional shared services center. Client’s objective was to find a person with considerable experience in managing various processes in the SSC area, who would perform a temporary manger’s function, review the existing processes, and recommend improvements. Once Client’s objectives and needs were defined, a person with a proven track record in leading processes and managing human resources was assigned to the engagement team, in line with Client’s expectations. Deloitte’s expert reviewed Client’s internal procedures, accounting schemes and verified whether the applied financial reporting was in compliance with statutory requirements. The Client was so pleased with services rendered by Deloitte that decided to extend the existing contract, and thus we were involved in finalizing the process of preparing financial statements for Polish entities covering previous reporting periods.

The Company turned to Deloitte as the termination of employment contract with one of the key employees in a managerial position resulted in a considerable shortage of staff. The Company asked Deloitte to appoint a BPS employee to the position of Tax Department Director to have time for recruitment. Most of all the Company wanted to provide the team with subject matter support in tax processes. Deloitte estimated the scope of support needed and offered the services of 3 BPS experts. Deloitte’s support entailed drawing up tax returns, assisting the Client’s team during tax control, filling the vacancies as quickly as possible and automating processes. Given the timeline for this engagement, Deloitte has regular contact with the Tax Manager, advises him on everyday operations and relieves him of current activities. A fixed team comprising 3 persons continues to support the Client with everyday business duties.

Company turned to Deloitte’s BPS Department for support in the transition of financial processes. Having outsourced accounting services to an accounting office, after some time the Company realized that complicated accounting processes, shortage of staff and insufficient support obtained from an external entity requires them to look for the assistance of a larger organization. Deloitte delegated 4 consultants to work on this engagement, whose task was to stabilize internal processes. The engagement lasted for nearly 12 months. During this period the team attained the assumed goals and helped the Company streamline accounting processes, which enabled the organization to build an efficiently functioning accounting department.

The Client, a listed company, operating in the construction, real estate management and rental sector, turned to Deloitte requesting the support of an accounting and finance team. The Client was experiencing staff shortages in the Financial Reporting Department due to temporary or permanent absence of several team members. Prompt response of Deloitte, flexible approach to the Client’s needs and fit-for-purpose presentation during the meeting resulted in the Client accepting the proposal, which was followed by delegating two Deloitte specialists to the Project Manager’s role. The engagement was performed on site, with Deloitte specialists using the equipment provided by the Client. The scope of the services covered:

• support in preparing consolidated financial statements for
  the first and the second quarter of the financial year;
• support in preparing separate financial statements (for several entities based on the provisions of IFRS and the Accounting Act);

Cooperation with the Client lasted for
more than several weeks. We have received positive feedback from the Company’s
Finance Director. For a couple of weeks our experts were part of the Client's
team which enabled them to fulfill reporting requirements and prepare consolidated financial statements in due time.

During the delivery of an advisory project on finance and accounting together with Deloitte, the Client who was a new owner of a recently acquired entity was struggling with staff issues as the notice period of the person holding the position of Finance Director was not over. In such case Deloitte suggested delegating a person holding a Senior Manager’s position to act in the capacity of Finance Director of the acquired company for the period of several months until a new person would fill the post. The agreed scope of services covered the management of the Accounting Team consisting of several employees and a two-person Controlling Department, coordination of work on the Company’s first budget and its further update (forecasts), management of the month-end close process and shortening it to 3 working days, monthly reporting based on the International Financial Reporting Standards (IFRS) along with performance against the budget, completion of statutory financial statements in accordance with the Polish Accounting Standards (PAS) and external audit, audit of the opening balance following the acquisition and introduction of relevant adjustments, building the controlling function, preparation of controlling reports (e.g. revenue and cost analysis for Monthly Business Reviews with the local and foreign Board) as well as current cooperation with the Finance and Accounting Team of the parent company and the local Board. During the engagement the person holding the Chief Accountant position quit the job, with very short notice period. The main challenges included the necessity to get acquainted with specifics of the Company’s business in remarkably short time, learn about its organizational structure and transactions in place, and support the Company when delegation of duties was not possible. Despite all that, our expert handled the task successfully. Regardless of the described challenges, during a few months of cooperation we managed to realize the preset goals and tasks, and seamlessly guide the Finance and Accounting Department through the difficult change period as well as smoothly hand the responsibilities over to a new Finance Director.