A construction company recognised the need for a detailed review of its finance and supporting processes. They were viewed as overly manual and inefficient, given the scale and complexity of the business. The goals were to identify opportunities to improve efficiency and to enhance the granularity and relevance of financial reports.
Workshops were held with key stakeholders where nine in-scope processes were mapped and issues were identified. Root causes were then confirmed through data analysis and validation. Solutions were established, alongside appraising delivery options. A detailed report defined key solutions to achieve the desired outcomes.
The summary report and follow-up highlighted:
• 150+ issues, which either impacted the ability to provide relevant data or caused inefficiencies
• 10 core root causes from which 15 key solutions were validated
• An equivalent of 4 FTEs time was being spent on Non-Value Add time
• Solution areas would address 70% of lost time and 60% of data granularity problems