Finance Managed Services

A global producer in the oil and chemical sector entered into a joint venture with a partner to develop a groundbreaking renewable green energy solution. This experimental project was outside the company’s traditional area of expertise, so they chose not to allocate resources for acquiring missing skills within the organisation.

Revision of Finance Department Setup

The management decided to revise the policy regarding setting up its own finance department. Instead of hiring new, scarce expertise, they opted for an external solution that did not rely on the internal staff, allowing resources to remain focused on compliance.

Operational Restructuring

Our experts in the standardisation of finance and taxes helped the company smoothly execute this strategic shift. Within a few weeks, the basic structure was operational, while other functions were phased in as needed.

Improvements in Scalability and Compliance

We then optimised the processes for financial and tax compliance with an integrated, cloud-based ERP solution provided by our team. This ensured that the company could scale up and down flexibly, while simultaneously meeting all regulatory requirements, ready for future growth and transitions.

A global online travel organisation faced the challenge of relocating its finance and tax compliance functions from local offices to a central location. The processes and technology were decentralised and non-standardised, resulting in in insufficient central insight into the global compliance status.

Revision of Operational Model

The management decided to revise the operational model. The local compliance processes were analysed to identify centralized opportunities. A centrally led model was chosen, in which local compliance was executed by PwC expert teams in the countries.

Operational Restructuring

Our strategy and operations experts assisted the organisation in this transition. Establishing a standardized approach and technology ensured that the head office teams gained insight and control over the global compliance status within a reasonable timeframe, without disrupting daily operations.

Improvements in Data Quality and Control

We then optimised the processes to enhance data quality, thereby strengthening the organisation's structure. This allowed freed-up resources in local countries to be deployed towards achieving accelerated growth business objectives. The system also provided global insight to the headquarters, preparing the organisation for further growth and centralisation.

A group of EU-based heavy electric vehicle manufacturers started a joint venture to develop a charging infrastructure. The company, with just a CEO and a limited support team, required a clear roadmap for setting up a functional organisation.

Revision of Implementation Plan

The management decided to adjust the implementation plan. Instead of directly investing in technology and personnel, a pragmatic approach was chosen where our experts assisted in drafting a detailed roadmap for all necessary steps.

Operational Restructuring

Our experts in Finance, HR, and IT worked closely with the company to execute strategic transformation. Within eight weeks, there was a comprehensive overview of operational requirements, including necessary decisions and future recommendations.

Improvements in Infrastructure and Processes

We then optimised the supply chain and operational structures by designing blueprints for procurement, finance, HR, and compliance processes. This enabled a selected transaction processing partner to become operational immediately, providing the company with flexibility and resilience to achieve their ambitious growth goals without prior investments in technology and personnel.

A European asset leasing company had significant growth ambitions and decided to establish a digital sales platform for post-lease cars as a separate entity. It was important to become independent of the parent company and be prepared for a potential transaction. Specialist knowledge was quickly required, and compliance had to be in order.

Revision of Business Setup and Digital Transformation

The aim was to maintain no local presence and conduct everything from a single central function. The management revised the business structure and emphasized centralization and digital transformation to streamline and centralize local financial, administrative, and tax functions.

Rapid Operationalisation and Automation

In just six weeks, we succeeded in operationalising accounts payable, payroll payments, monthly management reporting, and VAT compliance. Shortly thereafter, custom sales debtor processes and system integrations followed. Our experts ensured continuous automation, resulting in multiple efficient processes without interrupting operations.

Improved Compliance and Reporting

With the establishment of a cloud-based MS Dynamics Business Central ERP finance platform and an integrated managed service, we assisted the enterprise in ensuring compliance and maximising efficiency through automation. This was crucial to continue supporting strategic growth while improving existing structures and processes.

A European leasing company wanted to minimize human intervention in the Lead to Cash process, particularly during payment processing. This was essential as customers only received their goods after proper processing of payments in the system. Due to the large daily transaction volume and limited resources, late deliveries led to customer dissatisfaction.

Restructuring Processes

The standard processes were revised to implement a new working method supported by an AI-driven solution. These matched incoming payments based on payment description, customer/supplier name, and amount. Each transaction received a 'matching confidence rating', ranging from 'low' to 'high'. Transactions with a low or medium rating required extra attention.

Automation and Efficiency Improvement

Within weeks of introducing this new working method, the backlog of unidentified transactions was reduced to an acceptable level. The number of required resources to process the same number of daily transactions decreased. Freed-up resources were redeployed to support the company’s growth objectives.

Monitoring and Quality Control

Unidentified transactions were posted to suspense accounts, monitored daily by more experienced team members. Through clear instructions and 'track and trace' comments, side-by-side work was possible without slowing down the process.

A leading European manufacturer of smart charging stations for electric vehicles faced the challenge of winding down part of their activities over a period of three years. This involved the financial operations of companies in 11 EMEA countries. Maintaining reliable service delivery was crucial for both the company's management and customer satisfaction until the wind-down was fully completed.

Restructuring Operations

The management decided to revise the approach. Through the central model implemented by PwC Netherlands, we could immediately take over the financial role with minimal disruption, utilising the company’s own SAP systems. This approach significantly reduced the risk of delivery errors and ensured seamless continuation and eventual winding down of services.

Optimisation of Knowledge Management

Our finance and compliance specialists supported the company during this transformation. We first calculated the potential impact on the company and ensured that specialist knowledge, ranging from accounting, (statutory) reporting, audit, workforce, tax, and legal expertise, was always available. This way, the company retained enough resilience to shift back to its original goals in better times.

Efficient Resource Transfer

We also ensured that the released employees in the local markets could be redeployed to support other focus areas of the organisation, maximising the company’s operational flexibility and preparing it for future growth.

An international multi-brand retailer faced challenges with the annual accounting closure and the associated audit and compliance obligations. There was a need for immediate solutions to delays in closures and audits, followed by a review of the entire annual closing process. A key aspect of the desired outcome was the design and implementation of a robust closing methodology and efficient, high-quality data delivery to meet auditors' requirements. Ultimately, a centrally led, controlled, and managed audit procedure was necessary to ensure timely compliance in the future.

Reviewing the Process

Management decided to review the closing process. The existing issues were addressed by initiating a redesign with a future focus on data and automation.

Operational Restructuring

Our experts in Closing as a Service and Audit readiness helped the retailer make this rapid transition. By employing specialised process- and data specialists, audit risks and non-compliance could be quickly mitigated.

Improvements in Data Delivery

Subsequently, we ensured that the process review was efficiently implemented, with maximum data automation, and that all processes came under the control of the client's financial leadership and were managed by PwC. This allowed the retailer to remain resilient, restore internal confidence in better times, and maintain control to focus on day-to-day activities.