What I do
Practical finance transformation for mid-sized companies
If you’re the CFO or Controller of a mid-sized listed or private equity company, I’ll work with you and your team to design and deliver a program to transform your finance function.
These programs usually focus on one of these:
Replace a finance system
Your old finance system has reached its end of life and needs to go. You’ve found the replacement, something cloud-based, and maybe have an implementation partner lined up.
You want someone to manage the implementation. They need to understand finance, how to make change happen and can work with different groups of stakeholders.
Improve efficiency & effectiveness
Maybe you need to reduce the cost of finance or provide the business with a better service. You might be considering process improvement, technology, shared services, or even outsourcing.
You want someone who can help you design a new operating model and the roadmap to make it happen.
Integrate an acquisition
Your company has made an acquisition, and now there’s a program starting to complete the integration.
You want someone to manage the finance stream who can scope the work needed, including any changes to your operating model, and work with other functions on end-to-end processes. Then complete the integration as quickly as possible.
Support a new CFO
You’re new in the role and have spent time understanding how the finance function works and what needs improvement.
You want someone to build and deliver the program. Getting you results quickly and doing this in a way that builds support for finance.
Here are two recent examples of work I’ve completed, and you can read more about these and other projects by checking out my LinkedIn profile. And while you’re there, let’s connect.
How I work
For the finance function of a mid-sized company, there are some challenges to getting this work done. Finance teams are leaner, and there’s more focus on getting value for money and seeing results faster.
I’ve developed a practical finance transformation approach built on seven principles to meet these challenges. These started from an article I wrote for CA ANZ in 2016 and then have been refined based on projects I’ve managed and research I’ve done.
1. Build understanding
Avoid the temptation to jump into doing.
Understand how things work, what the issues and best practices are, and test ideas, and you’ll get to the finish faster with a better result.
2. Focus on a few
Make more progress, and see results sooner by working on the most important projects first.
The same applies to tasks. Trying to work on too many at the same time is slower.
3. Sweat the details
Aim for better than “looks good on a slide”.
For a finance transformation, you must look at how finance operates – process, people, technology.
And do this in enough detail that everyone is confident it will work.
4. Engage the business
A transformation is never just about finance.
Engage with other internal and external stakeholders to get their ideas and help.
5. Give ownership
Get the whole team playing.
Plan the work so that finance project members can own their work. You’ll get more commitment, better results, and build skills.
6. Provide support
You’ve got a good project team, now set them up for success.
That means having an active and engaged Sponsor and SteerCo, plus providing the team with tools, training and guidance.
7. Track progress
Transformation programs take time, and you’ll need measures to track progress and see results.
These will help keep momentum and identify when a course correction is needed.
If you’re thinking about finance transformation and have questions or would like my help, please phone or contact me via the contact page.
I’ll help with companies in Australia and New Zealand, typically in a combination of on-site and remote work and fees are based on the size of your project and how much help you need.
Usually, more support is required at the beginning to plan and set up the program and less as it builds momentum.