From Words To Actions:lessons of transforming a traditional finance department

Kirill PopadyukBAT Russia

Before: Efficiency, Control, And Service

control

efficiency

service

After: Efficiency, Control, And Service

control

efficiency

service

FSC: Yesterday, Today, And Beyond

today beyondyesterday

450670

1200

91 FTE

81 FTE

78 FTE

9

25

>45

It’s A Worthy Game. But Looking Back...

underestimated correctly estimated

change management 89%

employee transfer 59%

adherence to deadlines 69%

implementation tactics 54%

Source: СSC Shares Services Roundtable, Lessons Learned 2005

QU

ESTI

ON

S

FUNDAMENTALLY RE-IMAGINING THE CONCEPT OF FINANCE SERVICE

THE PROCESS ITSELF GIVES YOU THE

REQUIRED EXPERIENCE

YOU ARE BOUND TO MAKE A MISTAKE OR TWO

CR

ITIC

AL

SUC

CES

S FA

CTO

RS

CR

ITIC

AL

SUC

CES

S FA

CTO

RS

KEY TO CREATING MORE SHAREHOLDER VALUE

CR

ITIC

AL

SUC

CES

S FA

CTO

RS

Know Your Stakeholders!

Our View Of Stakeholder Analysis

strong influence weak influence

wea

kly

affe

cted

stro

ngly

aff

ecte

d

chiefaccountants

generaldirectors

internalclients

of financedepartment

bookkeeperssenior

accountants

heads ofneighbouring

functions

financedirectors

The Way We Discussed Structure

Motivating People In Times Of Change

CR

ITIC

AL

SUC

CES

S FA

CTO

RS

Excellent Project Management Is The Key

time

%

of c

ompl

etio

n

processes

organisation

selection

migration

stabilisation

Critical Project Management Achievement

transition tothe new

model withno businessdisruption

managing migration

managing risks

CR

ITIC

AL

SUC

CES

S FA

CTO

RS

The Way We Saw Risk Management

low influence high influence

low

pro

babi

lity

high

pro

babi

lity

internalcontrol

breakdowns

loss ofkey

personnel

lack ofchange in

neighbouringfunctions

sabotage

FORTUNE FAVOURS THE BRAVE