Diagnosing the root cause of Finance reporting issues and establishing the best path forward to drive an uplift in the quality and efficiency of Finance reporting
Opportunity
The nature of the business had changed significantly having transitioned from being a traditional print based business to one which offered its customers competitive digital subscription and advertising products and services. During this period of transition, the organisational model and executive accountabilities had frequently changed, causing disruption and complexity to both the structure and content of performance reports.
As a result of this organisational change, the Finance team was spending significant amounts of time manually generating reports and reconciling data, rather than acting as business partners and providing high value insights that enable executives to make better decisions.
To keep pace and provide timely information needed to drive business decision making, the team needed to uplift its reporting capabilities.
Solution
Established the best strategic path forward for Finance data and information needs:
Developed a holistic view of finance information needs and created user journeys to showcase the existing interactions and pain points between Finance and business teams, and what these could look like in the future
Designed future state report visualisations to be enabled by a cloud-based data analytics platform solution that would present financial information personalised for the user
Developed the finance information management architecture (transition and target state) ensuring alignment between business requirements and platform capabilities
Designed a remediation program operating model and roadmap to address the root cause issues and meet immediate/ high priority needs while developing a strategic and scalable data ecosystem for Finances’ needs into the future
Industry:
Media
Essential seven focus
Outcomes
Surfaced the root cause of reporting issues experienced by the business and finance teams across people, process, technology and data - eg. including inconsistent accounting practices, lapses in finance policies, and ageing technology platforms
Provided clarity on where to focus remediation efforts first to drive an uplift in the quality of reports and insights that finance provides to the commercial business leaders and head office, as well as an increase in the efficiency of how data and insights are managed and produced
Executive endorsement on the pathway forward and allocation of remediation program funding and resources to action priority initiatives and tackle urgent issues
“The PwC team were instrumental in helping us develop our Finance data strategy, creating clarity in a complex environment with evolving internal stakeholders needs and delivering an outcome which was actionable and able to drive immediate value.”
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Contact us
Guy Chandler
Partner, Advisory, Energy Utilities & Resources Industry Leader, PwC Australia
Tel: +61 439 345 045
