19 - 20 October 2017 |
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Reports

What finance pioneers are doing to drive value into the business (and what's working)

Finance leaders are finding themselves at a watershed moment. With the past characterised by transactional efficiency and the future by knowledge driven value-add, now is the time to be proactive. 
As always, there are the pioneers amongst us who are blazing a path into the future. We have reviewed some of the most impressive examples to date, to identify how and where these pioneers are making a difference. 
Read this report to learn about seven areas that offer real opportunities for change – and 5 finance leaders who are not afraid to break the mold. 

Video

Using Analytics to Enhance the Value of Finance

In a bid to maintain a cost neutral shared services function, Incitec Pivot are now looking at how to add value to the business using data warehouse information and dashboards.
In this interview, Rhonys McDowall, Manager of Australasian Finance Shared Services at Incitec Pivot, explores how the finance team is:
• Improving the visualisation of data coming into the shared service
• Generating insight from transactional data for strategic decision making
• Reducing risk by improving audit and control capabilities

Presentations

Improving Service Delivery and Functional Efficiency at the Department of Foreign Affairs and Trade (DFAT)

The Department of Foreign Affairs and Trade (DFAT) has gone through substantial change, following machinery of government changes and the integration of AusAID into the department’s unified corporate structure in 2013. In this presentation from Finance Transformation 2016,  Paul Wood Chief Finance Officer, Corporate Management Group at DFAT, explores how DFAT is endeavouring to improve their functional efficiency and improve the delivery of services onshore, as well as to their 100 decentralised posts overseas, across 80 different countries. Paul also shares how DFAT is implementing a range of red-tape innovation techniques, and their interest in becoming a shared services provider for other government agencies in Australia, including:
  • The challenges of integrating over 1,000 former AusAID staff into the department and integrating all related human resources, property services, and financial policies and systems
  • How to improve functional efficiency and service delivery both onshore and offshore
  • Reducing internal red-tape and streamlining processes to create new opportunities
  • Preparing to become a shared services provider for government – looking into the true cost of service delivery in order to develop pricing and costing models for other departments

How Automation and Digital Disruption Create Shareholder Value at AHG

Andrew Chilcott, Head of Management Accounting, Automotive Holdings Group (AHG)  is currently running a number of finance transformation projects across the AHG business, including AP automation, P2P and T&E programs. In this presentation from Finance Transformation 2016, Andrew discusses key insights from these projects including how he founded AHG’s digital disruptor ‘Matchacar,’ including:

  • How to kick-start automation in different parts of your business – pros and cons of a uniform solution
  • Hidden dangers that can lead to implementation burn out
  • Why alignment with a strategic vision reduces risk and delivers long term value
  • The power of Digital thinking and why technology is not always the answer to your problem (Matchacar case study)

Finance as a Business Partner: Delivering Insights, Improving Performance and Optimising Market Opportunities

Andrew Sharrock Financial Controller - International & Institutional Banking at ANZ is working with ANZ on a 3 year program of work, based around their ESAR framework – elimination, standardisation automation and re-location. In this presentation from Finance Transformation 2016, Andrew discusses the business objectives around the project, including the goal to become more efficient and to fully leverage the capabilities of their offshore hubs in Bangalore and Manila, including:
  • Getting back to the basics by simplifying onshore work, such as reporting by consolidating the number of journals entered
  • Moving their offshore hubs up the value chain, by not only offshoring high-transactional work, but also highlevel functions such as analytics and management reporting
  • Implementing strong governance frameworks to manage the quality of offshore work and setting quantitative benchmarks to measure performance
  • Exploring the related benefits of labour arbitrage, reduction in cost base and increase in quality
  • Working more closely with the business to become a true finance business partner and developing a continuous improvement culture

Interviews

Interview with David Cohen, Chief Financial Officer, Gadens Lawyers

Gadens is unique in the corporate services space, running a seamless model which enables their joint-venture executives to standardise, streamline and automate common national processes whilst enabling every individual office to remain independent and have discretion to manage their own profit pools.
In this interview, David Cohen, Chief Financial Officer at Gadens Lawyers, explores the core areas of Gadens transformation journey to date, how they are using automation to drive efficiency and the steps they are taking to move finance up the value curve to provide improved strategic direction for the business.

Lessons Learned from Melbourne Health's finance shared services journey

In this article, Corey Montry, Director, Financial Services at Melbourne Health, explores the core elements of his team’s finance shared services journey, the importance of investing in people and your team in order to have a successful shared service and the strategies that they are using to move finance up the value curve to become a strategic business partner.

Interview with Stuart Dorrington, Head of Financial Control, EnergyAustralia

In this video interview, Stuart Dorrington Head of Financial Control at EnergyAustralia, explores the new technologies EnergyAustralia's finance function is leveraging to drive efficiency, the steps they are taking to successfully drive leadership in their team and the biggest lessons learned from their finance transformation journey to date.

Exclusive Content

A brief snapshot of EnergyAustralia's Finance Transformation journey

In this video interview, Stuart Dorrington Head of Financial Control at EnergyAustralia, explores the new technologies EnergyAustralia's finance function is leveraging to drive efficiency, the steps they are taking to successfully drive leadership in their team and the biggest lessons learned from their finance transformation journey to date.

Driving innovation in finance transformation at Australia Post

In this case study, Silvio Giorgio, General Manager, Group Finance Operations at Australia Post, shares insight into Australia Post’s finance transformation journey to date, including the technologies they will be rolling-out to drive efficiency and innovation and how they are moving their finance function into the role of a strategic business partner.