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The context
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Finance function having transformational cost reduction targets
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An estimated 50% of the efforts allocated towards transactional processing (against industry best practice of 30%), whilst only 20% of the time spend towards Business Decision Support and Performance Management
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Leadership having a vision to drive efficiencies, strengthen operational effectiveness, and enhance advisory capabilities
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THE SOLUTION
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Conducted an ABC Task & Output Diagnostics to capture organizational efficiency and effectiveness at quantitative and qualitative levels
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Rationalized tasks / resources (with focus on reporting and non business partnering activities)
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Identified opportunities for efficiency improvements (including standardization and automation)
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Established governance mechanisms and quality assurance framework for on-going Change Management
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THE IMPACT
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100+ FTE’s offshored / outsourced resulting in nearly 10 million CHF annualized cost reduction
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35 FTE’s worth of hard and soft savings achieved, driven by standardization and elimination of specific reporting and other transactional activities
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Redeployed resources enabling focus on Strategic Business Partnering
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Self-Service capabilities rolled out to the business stakeholders resulting in improved user experience and effective decision support