Finance Shared Services Implementation
- Design Stage
Overview of Case Study
A German multinational company that manages complex supply chains for both chemical manufacturers and consumers has decided to set up a Finance Shared Service Centre (FSSC) in KL, Malaysia to support the APAC region in the Procure to Pay (P2P), Order to Cash (O2C) and Record to Report (R2R) functions.
Challenge
To analyse, identify and advise on a FSSC setup to optimize processess whilst ensuring the Business run as usual.
Specifically, the AGOS team is requested to deliver the following:
1. Design of To-be processes for P2P, O2C and R2R, Tech Solution Recommendation and Organisational Structure
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To gather requirements and analyse current as-is P2P, O2C and R2R processes for the respective countries in APAC
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To design process flows for overall P2P, O2C and R2R processes and subprocesses according to SSC best practices
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To propose system and automation recommendations for P2P , O2C, R2R, and MDM processes in the short, medium and long term in line with the process improvements proposed
2. Process Improvement Recommendations
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Requirement gathering and data analysis
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Propose elimination, simplification, standardisation and automation opportunities in the current processes and work out the estimated time savings
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Classify process improvements to be implemented in the short term, medium term and long term
Solution
AGOS Asia has completed the recommendation for the design of FSSC To-be process to eliminate, simplify, standardise or automate existing processes.
Stakeholder mapping and engagement action plan is developed. Local countries tax and regulatory concerns were addressed. Additionally, feedback/concerns from stakeholders were obtained and addressed in online workshops and follow up sessions to ensure smooth and comprehensive transition.
To-be processes for P2P, O2C and R2R were also designed based on industry best practices and documented in process flowcharts with the process improvement and control points clearly indicated.
Outcome
Design phase for APAC Finance Shared Services Centre implementation was completed within timeline.
The AGOS Advantage for Finance Shared Services
We are a group of Shared Services Practitioners with > 15 years of Finance Shared Services and Shared Services experience. We have been Senior Finance Leadership Team members and have the experience in developing Target Operating Model and successfully implementing Finance Transformation strategy for MNCs from US, UK, Germany, Japan, Korea. We strengthen the ecosystem offering by providing a ready to execute management team for Finance Shared Services set up in Malaysia and Southeast Asia.
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Managed large Finance Shared Services team of >100 pax and strengthened the ecosystem offerings by providing a ready-to-execute management team for Finance Shared Services set up in Malaysia and Southeast Asia.
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Effective change agents for your organisation and team by us “proving” to the team on efficient and effective Finance practices.
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Strong network with CFOs and Senior Finance Leadership team (Head of FSS, Head of GBS, Head of Finance Transformation) of MNCs in Southeast Asia.
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Implemented 6 Captive Finance Shared Services setup for global organisations within the Pharmaceutical, Fast Moving Consumer Goods, Chemical , software, irrigation, media industry.