Running Finance function of an MNC subsidiary

Challenge

  • Lack of finance leadership at the subsidiary
  • Parent not having adequate confidence in finance deliverable
  • Delay in monthly financials
  • Delay in statutory compliances
  • Complex and manual processes
  • Lack of clarity on India operations

How we helped

  • Assessment of the issues in due consultation with Head Quarters
  • Complement resources to fill the talent gap in F&A
  • Changes in design and processes to avoid inefficient activities
  • Recommended changes in the ERP system to improve in line with the above
  • Realigned the roles and responsibilities to smoothen the operations
  • Identify the business metrics and define KPIs
  • Aligned the reporting calendar with HO SLAs
  • Ensure timely reporting of financials and alerts
  • Assistance in timely compliances and provide alerts
  • Weekly/monthly governance calls for updates

Benefits

  • Timely reporting of monthly financials
  • Improvement in quality of reports with analysis & insights
  • Improved working capital helped timely payments
  • Timely payments helped in speeding project execution and getting better discounts
  • Support on business strategy and organizational changes
  • Improved coordination between local and HO teams
  • Helped in reducing duplicate and wasteful activities
  • Building trust between India office and HO
  • Timely statutory compliance within defined SLA
  • Economical to the MNC client to have the expertise of CFO