Protiviti’s Finance Optimization professionals help organizations reduce transaction processing time, cost and risk of errors, while increasing time spent on value-added activities.
Recent surveys have indicated that most finance organizations spend only 17 percent of their time on value-added activities, as much of the finance function’s capacity is devoted to transaction processing instead of providing insightful information for decision-making. Numerous manual tasks, proliferation of spreadsheets, informal hand-offs and inadequate status tracking drag on efficiency and increase the risk of errors. Organizations that lack sufficient time for value-added activities often require more than five days to close the books, use a spreadsheet-based financial consolidation process, need many manual journal entries or other manual activities to close the books and lack the capacity to analyze business drivers and identify root causes.
Our Finance Optimization consultants help companies shrink transaction processing costs by up to 30 percent, reduce error rates by up to 90 percent and compress cycle times by up to 70 percent. We help clients implement standardization across business unit functions in processing information, submitting local ledgers and posting closing entries in order to lower exception rates and the level of rework needed.
Our services include:
- Targeted Process Improvement (Close & Report, Procure to Pay, Order to Cash, Budgeting and Planning)
- Shared Services, Process Standardization and Consolidation
- Outsourcing Non-core Transactions