Opportunity  |  The Finance function within a global technology company’s business unit located in India faced significant operational challenges. Recent growth in the Indian market strained already inefficient business processes and systems that were highly manual and error prone. Leadership dissatisfaction with function performance reached a tipping point when performance began to limit overall organization growth in the region and compromise their ability to support the execution of the company’s growth strategy. The Country President and Global Head of International Finance asked Axiom to evaluate the function’s organization design and determine changes necessary to quickly improve the Finance function’s performance in serving its customers and increase capacity of the function to support expected future growth in this most important emerging market.

Approach Over a period of 12 weeks, we applied our “fast-cycle” organization design approach with the Finance Team to: identify current and expected future business requirements associated with the India business’ strategy and growth plan; articulate the primary lines of service expected from the Finance function to support current and future requirements and define service level agreements (SLA) for each, identify the organization design issues that caused current function underperformance and model future process capability/capacity to determine if the function, as currently designed, could effectively enable expected growth, develop a detailed understanding of 15 current business processes (in Accounts Payable and Compliance/Tax Reporting lines of service) and identify specific actions to improve cycle time, work quality, capacity, and workforce utilization and ensure compliance with all company and regulatory requirements; redesign current business processes and “pressure test” their capacity and capability to ensure that each could deliver expected process performance; and develop a comprehensive plan to ensure expected performance improvements would be achieved within 3 months of implementation.

Results

  • 15 Accounts Payable and Compliance/Tax reporting processes were redesigned with post-implementation resulting showing 100% on time performance, accuracy, and regulatory compliance
  • Improved workforce productivity by 38% for key roles within the organization.
  • Process cycle time improved in a range from 5-30% across the 15 redesigned business processes

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