Optimizing budgeting performance & processes
The CHALLENGE
The client was challenged by lack of accuracy in budgets and transparency into cost-drivers which prompted a need to redesign the budget-process, install stronger governance structures and re-organize the finance and accounting functions to drive out efficiencies e.g. through a shared-service function.
The solution
On behalf of the CFO, analysis and implementation of a centralized finance & accounting function was facilitated, new company-wide budget process and governance was developed incl. new process for investments, new meeting structure for top-management aligned with new budget yearly cycle was defined, and new decision bases for top-management e.g. monthly reporting formats (budget vs actuals, activity breakdown, KPI tracking, etc). was established