Wanting to achieve greater efficiencies and enhance the value of the finance function, our client engaged Veracity to assess their current state to identify opportunities for improvement.
01.
The Challenge
A leading full-service sports and entertainment firm engaged Veracity to review finance functions that may have been impacted by their recent sale of assets to another company. The review was conducted to determine what efficiencies could be realized by evaluating their current state organizational structure, processes and technologies.
02.
What We Did
RGP analyzed and documented the finance function’s current state based on a client customized approach in the following areas:
- Financial Close
- Consolidation and Reporting
- Accounts Payable
- Accounts Receivable
- Time and Expense Capture
- Planning Budgeting and Forecasting (FP&A)
- Contract Set-up
- Billing and invoicing
A Gap Analysis based on leading practices and RGP insight was prepared and presented to senior management and stakeholders, A Roadmap and Implementation Plan was then created for the recommendations to be implemented.
03.
Our Impact
Upon completion of the initial analysis a roadmap was created, highlighting a path forward that was based on leading practices for organizational structure, processes and technologies. The analysis focused on the finance organizational structure, process activities associated with the finance function, and the technology (e.g., MAS500, Concur & Hyperion).
The client implemented the RGP recommendations, improving efficiencies, reducing processing costs to further enhance the finance functions value proposition.
