Economic factors, new technologies, and market trends have created an opportunity to evolve the way finance & accounting services are delivered to the business. Many finance and accounting leaders have chosen to implement a shared services model to optimize transactional finance and accounting activities, while enabling resources to focus on higher-order analytic, reporting, and strategic business-focused efforts. Organizations have varying levels of achieving these objectives.
Our Assessment Services Identify Opportunities to:
- Reduce costs
- Improve service
- Improve fiscal controls
- Increase ability to standardize processes
- Enhance risk control and mitigation
- Increase consistency and availability of information
- Increased resource availability for strategy and innovation-focused efforts
As a result of competing service demands and continual change in the business, many finance and accounting leaders may not have complete visibility of their service delivery costs. Additionally these factors also inhibit organizations from having appropriate and thorough performance measures. Therefore it becomes a struggle to compare their processes with peer groups and best practices.
WGroup works with finance leaders to identify specific actionable cost saving and areas of improvement. We work with clients to identify standardization opportunities, help leverage best practices, assist in the identification of risks and mitigating factors, highlight target areas that would benefit from insourcing, outsourcing, or contract restructuring and provide a high-level F&A service delivery model and organizational recommendation that best fits your business goals and culture.
In as little as 3 weeks time, WGroup's F&A Rapid Evaluation will provide insight and indentify actionable strategies to improve finance and accounting performance and support. We begin by conducting a series of interviews to assess the capabilities of the F&A function, client satisfaction and areas for value creation. WGroup’s proprietary methodology is focused on aligning the F&A function to generate value to the business and support overall business goals as well as evaluate it against industry standards and best practices. WGroup’s F&A Rapid Evaluation results in a “power plan”, which is a set of recommendations to improve cost and efficiency, enhance customer satisfaction and improve analytics, insight and value to the business. Contact us to learn more about our approach.