Here are the highlights of a Case Study on finance transformation:
 

Client situation

The bank was looking to:

• consolidate repeatable, scalable finance activities dispersed across the group into an Enterprise Finance Operations shared service
• Identify associated opportunities to reduce costs, improve service and increase control

Capco was asked to review finance functions across the group and develop a business case, vision and plan for transformation.

Approach

• Undertook a review to understand the current state of disbursement and execution of “EFO type” activities – repeatable, scalable activities associated with G/L management, reconciliations, enterprise reporting, accounts payable and fixed assets.
• Developed a future state vision for EFO, including scope and definition of activities, functions, and services; interactions with internal and external entities; high-level application architecture; and operating model.
• Identified gaps and potential opportunities in current operating model relating to cost management, service propositions, control frameworks and provided an implementation roadmap defining the sequence of activities required to capitalise on these benefits.
• Created a high-level “transformation business case” and a cost benefit analysis outlining potential savings against investments required to achieve these savings.

Deliverables

• Service model
• Functional model
• Organisational model
• Application architecture
• Implementation roadmap
• Financial implications

Strategic benefits

• Improved financial control
• Enhanced client service
• Signifcant savings in outsourced processing costs
• Improved risk management
• Infrastructure enabler for other initiatives