An international manufacturing company group in Europe wanted to reduce their cost and improve the performance and quality of their finance and accounting processes.
Standardizing and streamlining the Accounts Receivable, Accounts Payable and General Ledger accounting, as well as budgeting and forecasting support in a way where these tasks would be performed efficiently, on a timely manner and by skilled specialists. Have all of them performed in a centralized location, instead of having each entity in the company group handle their own finances. Have an experienced accountants oversee the tasks and maintain communication with the financial controllers locally, and a team manager reporting directly to the group CFO.
Reviewed and standardized the related processes, and established a team of specialists to take over the tasks from the client. The tasks were fully taken over within a couple of months and the team would then work independently, but with constant and clear communication with the subject matter experts when needed.
