Finance

Finance and Accounting Departments must manage a business environment of constant change.

  • Business models become continually more complex as more customers want more detail – spreadsheets and outdated consolidation or forecasting tools hold back the team from delivering quality reports and analysis on time.
  • As the business expands globally and through M&A, a multitude of problems plague Finance and Accounting:
    - Integration of multiple data sources
    - Report consumers want different views of the data
    - Multiple statutory and regulatory environments to reconcile
    - Standardization to corporate requests is resisted culturally
  • As the demand for information continues to grow, the team is too busy to build new systems and processes – they are too busy to fix the weak foundation and start reengineering the processes.

Symptoms of Constant Change

  • No time to improve processes – triage and just survive immediate crisis
  • Closing processes that evolved over time, rather than being designed
  • Reliance on readily available tools such as interlinked spreadsheets that are prone to crash and outdated back-end systems
  • Disparate systems – not integrated or prone to repeated errors
  • Complex processes result in heavy reconciliations that are time consuming
  • Long close cycles – hard to deliver statutory and management reports
  • Risk of financial statements being misstated
  • Employee burnout
  • Higher auditing and accounting costs
  • Unable to sustain compliance and performance initiatives

JCB’s Financial and Performance Management practice helps organizations optimize the resources they have and better align their time and skills with the value of the organization.  We help address the information needs in the traditional roles of the Office of Finance as well as ever changing demands being placed on it.

Our solutions include:

  • Comprehensive consolidation solutions that shrink the time to close and report while addressing the compliance needs of the organization
  • Budgeting and Forecasting solutions that drive collaboration between Finance and Operations to remove the chasm caused by “Finance’s Budget"
  • Reporting solutions that link financial results with the operational effects of the business, helping align Finance with the operational stakeholders of the business