Evolution to higher performance
Does your company’s finance cost exceed 1.5% of revenue?
Is your payables processing efficiency below 6,000 invoices per person per year?
Do you allocate 80% of your cash receipts manually?
With the Finance Process Improvement service offering, IFC Group assists companies to improve their financial processes, achieving increased productivity and reduced costs, and enabling more focus on value-added activities. We have a scalable approach, whether a company is looking for a quick, targeted diagnosis or an in-depth analysis.
We help clients assess the current state of their finance processes and systems through benchmarking and best practice comparison.
Secondly, we identify clear process and system improvements and evaluate them through a cost-benefit analysis.
Thirdly, we prioritise and implement the improvements with the client’s team and monitor the realisation of benefits carefully.
- Develop understanding of current performance levels
- Obtain best practices for each process
- Target quick hit opportunities
- Prioritise remaining opportunities for improving processes
- Justify expenditures for new technologies
- Strengthen organisational focus on performance issues
- Better input/output ratio of the finance process
- More reliable ‘industrialised’ finance processes