Project-One-and-Pharmaceuticals-Finance Transformation

Spotlight on: Finance Transformation




Finance Transformation was mobilised in 2014 to achieve a step- change in Finance performance, by embedding consistent global processes, data, systems and service centres, delivering high quality, efficient services to support global business growth and strategy.



Lack of standardised processes

Modern, simplified and standardised processes

Complex system landscape

Value-focused Operating Model with cost of finance to sales in the upper quartile

Federated operating model

Faster and greater business and financial insight

Poor quality source data

Engaged and capable workforce, creating value

Significant manual intervention

Such a significant undertaking required the shaping and delivery of a complex suite of interconnected projects and initiatives, working right across the business, not just the Finance function.

Project One adding value:






Global Processes Designed

Programme Mobilised

Global Close Calendar

FX Forecasting


Commercial Management Reporting

SAP Harmonisation

Planning Hub

Manufacturing Accounting

Transactional Improvements

External Reporting Hub

Inter- Company Processing

Master Data Management

Data Cleansing


real change • real difference

Spotlight on: Finance Transformation

Spotlight on: Finance Transformation







SAP Harmonisation (2016-17) Challenge: Finance Transformation required our customer’s ERP estate of SAP systems to operate consistently and to improve global planning and reporting across the five global regions within a new

External Reporting Hub (2017-19) Challenge: To significantly reduce manual intervention and improve data quality for statutory financial reporting across XXX+ legal entities globally. Approach: Project-managed this $XXm project from requirements gathering through to post go-live Hypercare, across employees and third parties. Built a communication dashboard over the underlying data reconciliation tool, used monthly for 18 months to demonstrate data clean up progress to the Business, as well as a month-end dashboard still used today. Outcomes Simplified systems and processes

FX Forecasting (2019-21) Challenge: Improve the forecasting accuracy of

“Project One is extremely well thought of and we are very happy with your work. ​Pro-active, organised, diligent and good communicators…you have driven the project forward superbly!” Specialist Finance Director Lead: Leading the delivery of the second release in Asia across four main technologies and vendors delivering transactional, reporting and analytics capabilities. Coordinate: Across multiple vendors within the technology workstream, to ensure all inter-dependencies are managed within and across workstreams, and with other parallel projects. Manufacturing Accounting Programme - MAP (2019-22) Challenge: To create a standard process for breaking down costs across their XX manufacturing sites around the world, so they can perform site-to-site comparisons and trace detailed costs back to products. ‘MAP’ is delivering one standard cost component structure, with enhanced analytics and reporting to enable decision making which will reduce Cost of Goods Sold. Approach: Shape: Budget, team structure and plan shaping in preparation for CFO sign off. Intercompany Processes & Practices (2020-21+) Challenge: The business recognised a need to establish a standardised end-to-end intercompany process to act as the foundation for future automation opportunities. Establishing best practice global intercompany solutions will lead to improvements in how Finance interoperate with the rest of the business. Approach: Mobilise: Building a team to define, deliver and embed a standardised and effectively governed intercompany process. Shape: Defining a Target Operating Model covering the end-to-end process, data, governance and technology. Coordinate: Driving significant and critical interdependencies between initiatives and cross-functional working. Lead: Leading the programme through to transition into BAU, including establishment of benefit tracking processes.

“Project One has been an asset to the team, bringing a blend of good project management and strong relationships within the business built over a number of years.” Technology Lead, MAP Embed: Plan and manage development of the BAU team’s capability to take on and sustain the partnership with Supply Chain, FX process and continuous improvements. intercompany trade to reduce foreign exchange exposure and variance, enabling Treasury to reduce FX impacts on Group P&L Approach: Discovery: Understand the problem and sources of information available to inform intercompany forecasting. Collaborate: Launch and facilitate cross-functional data sharing, workshops and continuous improvements across the enterprise, specifically including Global Supply Chain, Finance, Finance Transformation and IT. Trial and Pilot: Develop a proof- of-concept to prototype and refine the new ways of working. Following early FX savings, the pilot was extended to include all major manufacturing sites and their Top 11 markets.

Target Operating Model. Approach: Project One stabilised the existing

programme and implemented new governance and controls. Outcomes Solid SAP Foundation: Re-engineering of the existing SAP systems provided a consistent foundation for subsequent reporting projects. Harmonised Data: Rationalised and kept clean

Period-end closure times reduced by up to 24 hours Reduced errors through minimised manual intervention

“What impressed me most was your ownership and ability to take on additional responsibility. This instilled confidence across the senior leadership team in the deliverability of the programme.” Director FT Commercial Commercial Reporting Hub (2017-19) Challenge: To standardise and consolidate a suite of critical reports used to manage commercial performance globally, enabling a consistent and trusted set of KPIs and metrics to be adopted, and so improve performance across the business. Approach: We defined a control and cadence heartbeat to keep momentum through daily tracking. We established strong working relationships between the teams to ensure a productive, focused team environment. Outcomes Single source month-end reports based on a stable platform and high-quality data Stronger relationships between the business community, IT teams and third-parties

through automated data flows with minimal manual intervention.

“We couldn’t have delivered this without the unique blend of skills, ‘can-do’ attitude and pragmatism that you bring.” FT Programme Director



real change • real difference

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