the flinder effect™

the way we view and transform finance functions

the flinder effect
© Copyright flinder 2019. All rights reserved.

the flinder effect is our way of running and transforming the outdated finance function to a world-class, technology-enabled and data-driven finance function.

 

it leverages fit for purpose processes and empowered finance staff delivering an efficient, well-controlled finance function that delivers insight that is aligned to the business strategy.

 

the flinder effect comprises our:

9 Pillars of Finance Function Excellence™

5D Transformation Methodology™

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just some of the typical challenges in the finance function

do these sound familiar in your management information?
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time-consuming

preparing management information is a slow and labour intensive – pulling data from various sources, mapping, sorting and presenting it in various spreadsheets that probably have errors, some of which are identified and the whole process is repeated!
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delivered late

because it’s so time-consuming, management information is often delivered late due to the inefficient processes and lack of automation. this also typically leads to insufficient time for interpretation
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multiple versions

multiple applications without a single source of the truth (SSOT) strategy leads to stakeholders working from different numbers. too much time is spent discussing the validity of the numbers rather than what they actually mean and making informed decisions
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finance only

finance functions and finance professionals spend most of their time in their comfort zone of finance information. whereas heterogeneous data sources (financial & non financial) will tell a much more enlightened and enriched story. it’s not the what that matters, but the why!
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no interpretation

finance functions are spending so long on preparation of management information they just don’t have time to interpret the information and add meaning to the numbers and value to to the business. additionally, these new business partnering skills are often not readily available by the team
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lacks relevance

too often finance isn’t aligned to the business vision. as a result there is also a lack of alignment of management information to the business strategy and thus what is delivered provides little or no meaningful information for key stakeholder to make informed decisions and just lacks relevance

“we literally could not operate without these measures being in place…I would sum up working with flinder as an absolute pleasure, they’re the best accounting firm I’ve worked with!”

Mark Henderson, Founder & Chairman – The New Craftsmen

9pillars

the flinder effect™ part 1: 9 Pillars of Finance Function Excellence™

we optimise your finance function around each of our 9 pillars

vision & strategic

objectives

(core)
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at the heart of every business is the vision, this is the same for the finance function. too few finance functions have a vision and even fewer have a vision and a strategy that is aligned with the business strategy. finance needs to support the business and the finance vision and strategy direct the finance team to best support the business

efficiency, control

& insight

(value drivers)
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finance functions should be efficient and well-controlled in order to deliver insight to the business to make more timely and better informed decisions. however, these ‘value drivers’ are competing demands of finance; if a finance function is too well controlled, it’s at the expense of being efficient. if a finance function lacks efficiency, it’s often at the expense of creating insight. it’s important to get the right balance to match the vision and strategy of the business

people, processes,

technology & data

(enabling foundations)
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standard processes that leverage technology are absolutely key to delivering the value drivers – primarily they will deliver efficient transaction processing with embedded controls. data is becoming increasingly more valuable as we learn new ways to unlock it to make better decisions. with the exponential increase in data, finance professionals are uniquely positioned to become the business story-tellers as they partner ever more closely with the business on the strategy
book a discovery call to see how you could save time, money and grow your business

we get the benefit of complete confidence the management information we are looking at is accurate and relevant!”

Ed Simpson, Founder & Director – The Legal Director

5D

the flinder effect™ part 2: 5D Transformation Methodology™

we transform your finance function across our 5 phased approach

discover

develop business case, high-level future operating model and scope initiatives
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mobilisation
vision & strategy alignment
assess current state
prepare business case for change
set out high-level future operating model
business sign-off

design

develop transformation blueprint, detailed design, source providers & quick wins
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✓ detailed design of to-be environment; people, processes, technology, data, strategy & structure
design transition plan
✓ RFP or identify and select service providers & contract
✓ implement quick wins
✓ business sign-off

develop

develop new ways of working, technology and plan rollout & cutover
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establish management structure & organisation
develop processes
✓ develop technology & data cleanse
✓ plan, develop & deliver training
✓ establish service infrastructure
business sign-off

deploy

roll out new ways of working & cutover and focus on benefits realisation
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complete pre migration & user acceptance testing
plan migration
✓ assess go live criteria
✓ cutover – new systems & processes
✓ migration & go live
✓ business sign-off

do

business as usual for new operating model and implement continuous improvement
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✓ hypercare & service monitoring
✓ continuous improvement
✓ feedback & refine
✓ business as usual
book a discovery call to see how you could save time, money and grow your business

hear what some of our clients have to say about working with flinder

(thank you!)
The New Craftsmen partners with flinder to provide increased control and accuracy; what they discovered was transformative.
Read more here.
The Legal Director partners with flinder to report quicker and more accurately; ultimately we’ve reduced their level of stress at month end.
Read more here.

book a call

book a discovery call to see how we could help you

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