Turn finance into a growth partner

CFOs today are playing a critical role in helping their companies manage inflation, rising costs, and supply chain disruption. They also face the challenges of driving sustainable business growth, mitigating risks, building resilience, and developing new business models.

But to deliver as strategic growth partners, CFOs must elevate the finance function from a provider of transactional services to a vital source of strategic insights and guidance.

Challenge

Drowning in data; unable to surface insights

But many finance organizations struggle to realize this vision. They have inflexible and fragmented structures and operating models – they also suffer from manual, error-prone processes and backward-looking financial planning and analysis. They battle against legacy technologies, systems, and disconnected data while also facing the challenge of reskilling their people. As a result, finance teams spend too much time collecting, collating, and crunching numbers and not enough uncovering the insights and value that support strategic decisions.

As finance leaders' priorities shift toward supporting sustainable growth, managing inflation, and building agility, they must first address each of these challenges.

Solution

Remove burdens, release insights

Genpact's finance and accounting consulting services guide organizations as they transform into future-ready finance functions. Our hands-on experts reinvent finance operating models, eliminate the burden from transactional processes, and arm leaders with intelligent insights to support major business decisions (figure 1).

Three core assets help us accelerate this journey:

• The right mix of finance and accounting functional knowledge, design thinking, technology, and data analytics capabilities
• Our continuous transformation framework, which incorporates four capabilities linked by enterprise intelligence, seamless change management, and a client-focused culture. We bring industry expertise, technology, and data together in a way that delivers a combined value greater than the sum of its parts
• Proprietary performance and governance frameworks that drive world-class finance functions

See how we can support your business:

Finance strategy and transformation: We make sure your finance operating model, including process, technology, information, controls, and people, is ready for the future. We build on finance process diagnostics and benchmarks, robust master data management (MDM), embedded analytics, and advanced digital technologies.

Finance operational excellence: We look at functions end to end to deliver seamless processes for procure to pay, record to report, and order to cash. That includes ERP design, too. You can benefit from design thinking and Lean methods, digital technologies, and our deep process knowledge. And we break down barriers by identifying common datasets and eliminating duplication across finance, risk, and treasury.

Enterprise performance management (EPM): Companies survive and thrive by the decisions they make. But without access to real-time internal and external data and advanced analytics, they won't have the right insights. We redesign EPM functions so they become strategic business partners. We transform reporting and shift the focus from the past to the future.

Enterprise risk and compliance (ERC): We help you stay current with regulations and build an integrated compliance function. We offer Sarbanes-Oxley compliance support and design and implement internal audit programs. And with a global controls hub, you can transform third-party risk, T&E audit, ESG compliance, IT risk management, and internal controls.

Global business services (GBS) strategy and organizational design: Whether your business has a mature GBS function or is early in its journey, our insights and experience in designing, transforming, and running shared services help you meet your objectives. With our assessment tools, design frameworks, and digital technologies, we unlock value, achieve best-in-class operations, and turn GBS into a source of innovation.

GBS build and implementation: We realize your GBS vision with our experience in establishing delivery centers around the world. This includes program management, transition methods, operational excellence frameworks, change management, hiring strategies, facility management, and business-continuity planning.

GBS operations: We keep your operations moving with our GBS managed services. We offer flexible support, including program, people, process, and infrastructure management. And our service delivery frameworks help you stabilize operations, nurture a culture of high performance, and identify opportunities for innovation.

Working capital optimization: We help you deploy a cross-functional liquidity management team and take a holistic approach to identify and implement ways to improve cash flow across receivables, payables, and inventory management processes. Combining our functional and industry know-how with analytics, AI, and machine learning models, we help you maximize your working capital performance.

Change management: We help you plan your change strategy, align stakeholders, create communications, define roles, and establish knowledge management with our frameworks, tools, and accelerators.

Master data management (MDM) for finance: We provide MDM strategy and roadmap design, data governance and maturity assessments, and master data migration. We design centers of excellence and offer MDM technology implementation services with clear processes and controls.

Finance analytics: Our finance analytics suite provides CFOs with actionable insights. With our data analytics and advanced visualization and reporting solutions, we empower CFOs to transform their organizations' decision-making.

Impact

An insight-led, agile finance function

In a world of volatility, finance functions must become agile. The ability to quickly adjust to changing business needs is a differentiator we deliver. Building on our finance knowledge, data, tech, and AI capabilities, and proprietary frameworks we help companies create and operate world-class finance organizations.

• For Mondelēz International, we transformed finance across 22 key markets, created six highly productive global centers, and used digital technologies to transform finance across 75 countries and 150 processes. This resulted in better service, improved accuracy, governance, and compliance, faster time to market, and 41% lower operations costs
• A multinational consumer goods company wanted to implement a connected, seamless, and collaborative way of working across sales, commercial, supply chain, and finance functions. We helped the firm connect its plan-to-cash operations, powered by an advanced operating model and digital technologies that are driving customer loyalty, profitable growth, and resilience
• A global brewer looked to modernize its finance function across order to cash, source to pay, record to report, and master data management globally to best-in-class. We helped the company realize its vision for a streamlined, digital finance shared service that is agile and responsive to the company's strategic needs
• A global insurer struggled with complex and fragmented finance processes that were stifling growth and transformation. Using a blueprinting approach, we designed and deployed an advanced finance operating model that was simpler, scalable, and more efficient to speed up change and enhance competitiveness
• We helped a medical device manufacturer with a speedy and seamless way to collect receivables by helping it migrate to a cloud-based accounts receivables management platform hosted on AWS. We also reinvented its archaic cash management strategies with predictive analytics to cut past-due receivables and boost cash flow
• A leading beverage brand turned to Genpact to transform its finance function by connecting all data across the finance department. We used our data engineering capabilities and deployed an analytics hub to cut data collection costs, drive agility, improve cash flow, and cut revenue leakage by $25 million
• A global investment bank wanted a faster and more efficient way to close the quarterly books of accounts and accelerate its earnings release. We helped the bank redesign its financial close processes, integrate data flow between the front, middle, and back offices, revise policies, and optimize the finance technology investments it made that sped up its earnings release and improved user experiences

Why Genpact

Genpact is well recognized as a global leader in finance and accounting services. With over 40,000 finance professionals, 1,600 of whom are finance consulting experts, we provide services to over 300 clients globally. Analysts such as Gartner, HFS Research, Everest Group, and IDC position us as a leader in finance and accounting services. We're ready to help your business deliver outcomes that make it stand out in the market and grow.