Finance Management

Our experienced professionals deliver innovative solutions to transform your organisation's finance function. Our best practices in finance management will improve your business performance. iSource combines outsource, geographical dispersed systems, procedures and policies that can transform your technology services, operational management and permit your accounting to make better spending.

We help companies refine and contour their back-office functions for maximum efficiency.

Why iSource

iSource will drive cost reduction and improved service. Our capabilities will enable your finance function to better support your corporate agenda and enable high performance.

To assist clients with the provision and execution of back-office services, we offer expertise in:

• Back Office Performance

• Shared Services

  Achieving cost savings and high quality service through consolidation and redesign of support functions into service centers.

• Tax Management

  Increasing shareholder value by helping tax departments move from cost centers to value generating operations.

• Working Capital Management

• Accelerated Close

  Improving and accelerating the financial close process.

Our offerings effectively help your organisation to:

• Lower finance processing costs.
• Improve working capital.
• Improve customer satisfaction.
• Lower IT costs.
• Improve customer care cost.
• Improve capital planning.

We know that creating a Shared Services capability that actually delivers the high-performance benefits clients want is not an easy task. iSource teams are able to do this consistently and reliably thanks to our proprietary framework for Shared Services delivery. Our clients gain the confidence of knowing that, when they engage us to help them implement or reshape their Shared Services model, their team will be operating at maximum efficiency, using a proven delivery approach, constantly refined to be the best of the best.

Shared Services

The growing need of iSource's clients to realize performance improvement and cost reduction in back-office functions is fueling a demand for Shared Services solutions; and the professionals who can deliver them. iSource, using our proprietary framework for Shared Services delivery, can help clients reach their Shared Services goals more quickly, at less risk and with lower implementation costs.

All organisations find themselves confronted by two, potentially contradictory, imperatives:

• to improve service
• and to reduce costs

For many organisations, Shared Services is a vital means to achieve the high performance necessary to meet these imperatives. Implemented correctly, Shared Services can deliver the following benefits, all of them contributing to a leaner, more effective organisation:

• Significant reduction in ongoing back-office costs through process standardization and continuous improvement.
• Improved service levels.
• Better control and reporting as increasingly required by international legislation.
• Processes benchmarked against global leading practices.

While the goals are clear, the planning and execution of a Shared Services strategy is complex and demanding. Increasing numbers of clients will turn to iSource for their technology and business re-engineering strategy; driven from every corner of ones business.

iSource's commitment to high performance in Shared Services is powered by its proprietary framework for delivering Shared Services. This framework crystallizes all of iSource’s specialist financial information and covers full cycles of shared service activities. It subsequently also acts as a repository of leading practices and allows each client team to leverage the accumulated wisdom and know-how of iSource's core specialist team. It provides:

• A common understanding of the Shared Services model and its concepts.
• The ability to mobilize a Shared Services program quickly and deliver enhanced value to the client through a proven process.
• Access to iSource's thought leadership, experiences, lessons learned and success stories in the field of Shared Services.

Utilizing the framework combines the effectiveness of a small, client-focused team with the power of the world's largest consulting company.

Management Services

We develop innovative cross-industry solutions for our clients, allowing them to successfully turn insight into action, manage efficient operations, employ company assets effectively and supervise enterprise risks.

Our cross-industry expertise helps your organisation master business insight, efficient operations and asset management strategies to outperform the competition.

We deliver innovative ways to transform your organisation's finance function to improve your business performance. In working with clients, we:

• Establish strong relationships to deliver long-term sustainable value.
• Act as a business partner. Our clients' business outcome is our single most important objective and measures the quality of our service.
• Use a team approach that empowers our clients to maximize their contributions to the project.
• Complement our clients' expertise and services.

Our solutions include:

• Internal and outsourced strategies for operational excellence in transaction processing.
• New analytic capabilities enabling strategic decision-making.
• Effective enterprise-wide performance management capabilities to drive shareholder value.

Strategy

We collaborate with organisations to help them develop and implement a strategic finance plan and structure that meshes with their goals.

We develop functional finance strategies to enhance or implement the following:

• Effective finance organisation strategies.
• Productive post-merger finance integration.
• Tax-efficient operating models.
• Improved finance capability development.

Our capabilities contribute significantly toward:

• Reduced finance function costs.
• Defined opportunities to improve operational efficiency.
• Improvements in working capital.
• Reduced risk.
• Improved information and decision-making.

Next Generation

With our innovative solutions, companies can achieve significant benefits by expanding business capabilities, including: operating with greater efficiency; creating new sources of revenue; lowering costs; consolidating and streamlining processes; and improving product and service delivery.

Specific Services

• Next generation transaction processing
• Finance and performance reporting
• Planning, budgeting and forecasting
• Tax transformation
• Treasury management

Our clients benefit from the following Next Generation services:

• Next Generation Transaction Processing

  Next Generation Transaction Processing enhances enterprise-wide finance systems, creating value in the areas of: workflow automation, accounts payable, accounts receivable, general accounting, asset life cycle management and project accounting, virtual close/straight-through reporting and time and expense management.

• Finance and Performance Reporting

  This service includes comprehensive strategies to align various financial reports with management nodes and real-time distribution of key information. Our solutions provide innovative ways of automating the consolidation process and controlling the financial data needed to produce consolidated financial statements. Dimensional profitability reporting and analysis also help boost segment performance. Our solutions take advantage of new and emerging trends and technologies to increase information delivery speed.

• Planning, Budgeting, and Forecasting

  This offering helps clients improve strategic planning, budgeting, and forecasting, leading to: greater process efficiency, the availability of quality planning information to support decision-making and a framework for increasing shareholder value

• Tax Transformation

  The tax function is an integral part of corporate finance and accounting. Since there are currently no dedicated tax modules in Enterprise Solution systems, tax organisations must work with all major process groups, order-to-cash, purchase-to-pay, record-to-report to ensure the success of their efforts.

Workforce Transition Management

In this Point of View, we consider the importance of managing and measuring the labor savings attained through a Shared Services program, and look in some detail at the key issues that typically arise during these projects. We examine the importance of Organisation Transition Plans and identify 12 steps to a successful workforce transition outcome, helping organisations to achieve high performance.

Shared Services can deliver many improvements. Among the most notable are higher performance levels, better information and increased time for true business analysis. The most tangible benefit, however, is the reduction in overall labor costs.

Redesigning business processes into a Shared Services model can lead to substantially higher workforce productivity - better service at lower costs. It is important to consider that Shared Services works best with a new vision, performance objectives and organisation. Simply shifting existing resources from the old business environment to the new Shared Service solution may not maximize the benefit potential.

Analysis

A Shared Services solution may not be uniformly welcomed within an organisation. Understandably, the job impacts will generate feelings of anxiety among the workforce. Managers and other employees may see their jobs and/or their sphere of influence threatened. However, their cooperation and active participation are critical to the ultimate success of the new Shared Services solution. A well-managed workforce transition is an essential element of any Shared Services program. Good workforce transition management will benefit impacted employees, but even more importantly, it represents a disciplined approach to understanding and managing the risk of business disruption.

We have identified 12 steps to workforce transition:

Design Phase:

1. 1 - Determine the job impacts (eliminations, changes and additions) based on the new process design
2. 2 - Measure the baseline organisation to enable accurate labour savings measurement after go-live
3. 3 - Review existing workforce reduction policies to ensure compliance and define all available career options
4. 4 - Review and learn from other workforce reduction efforts within the organisation and review best practices from other organisations
5. 5 - Develop the Workforce Transition Plan to summarize impacts, timing, career options, contingency staffing plans, etc.
6. 6 - Obtain Workforce Transition Plan approval with Human Resources and business unit leadership
   
   Build Phase:
   Roll-out Phase:
7. 7 - Develop the Workforce Transition communication plan or 'toolkit' to help local Human Resource professionals manage the transition
8. 8 - Review process design and workforce impacts with impacted business unit managers and achieve buy-in to new organisation design
9. 9 - Arrange for contingency staffing to address the risk of business disruption should key resources resign before the transition date
10. 10 - Arrange outplacement services for those employees who will not be offered a new position within the organisation
11. 11 - Notify impacted employees of workforce actions
12. 12 - Manage and measure compliance to new staffing model