Financial & Performance Management Consulting

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Michael Warwick Nicholls are the UK's leading suppliers of individuals within Financial Management Consultancy. We have a constant demand across financial services, FMCG, energy and utilities, high-tech and telecommunications, retail, pharmaceuticals and public sector. MWN find the ideal individuals to help transform the finance functions of some of the world's most respected commercial and public sector organisations.

Today's CFO needs independent advice to help them navigate the complexity of their role. They are responsible for reducing costs and ensuring that management receive the right decision support information as well as acting as a business partner to the different business operations.

Finance and Performance Management Consultants act as an advisor to the CFO and deal with all that falls on their agenda. Helping clients with such a diverse range of issues, work streams within the F&PM service line include:

Activity Based Costing & Management

Activity Based Costing, when used well, has the potential to help an organisation to allocate costs, capital and revenue effectively to products and services greatly assisting the identification of profitable and non-profitable activities.

Consultants have experience in building effective ABC models that are practical, take account of materiality and are objective and transparent.

In some cases, the models constructed can be aligned with performance management frameworks and executive compensation and incentives. They can also be used to identify areas to target for cost reduction and performance improvement initiatives.

Business Intelligence & MIS

Getting rapid, accurate business information and supporting analysis is critical to managing any business effectively. Consultants assist clients with:

Evaluating and selecting the appropriate MIS tools and software
Project managing implementations
Integrating MIS systems with your existing architecture including ERP platform
Balanced Scorecards
Consolidation packages
Developing operational KPIs and a 'single version of the truth'

Cost Management

Consultants analyse the cost base of an organisation using a number of tools including benchmarking, activity analysis, interviews, process mapping, strategic sourcing and analytical reviews. They can work with management to identify savings, whilst not jeopardising core operations and revenue generation. They are also able to Project Manage the realisation of these savings.

ERP and Enabling Technologies Implementations

An ERP Implementation or re-implementation presents a tremendous opportunity, investment and challenge for any organisation. It is critically important that the implementation is effectively planned and managed to avoid cost overruns and ensure that the correct decisions regarding design and bespoke configurations are made. Consultants have experience in the following areas:

Project Management of ERP implementations throughout the entire lifecycle
Specific and up-to-date experience in SAP, Peoplesoft, Microsoft Navision , Oracle, JD Edwards, Hansaworld and other leading ERP packages both for larger and SME enterprises
System selection and evaluation of alternate solutions
Evaluation of implementation partners and commercial proposals including preparation of 'Requests to Tender'
Experience, and often SAP certification, in all modules of SAP and related core Finance Process areas including O2C, P2P, GL etc
Implementation of enabling technologies including workflow and document imaging
Troubleshooting failing implementations pre or post go-live
Integrating a systems implementation with a change in Finance Operating Model to Shared Services or an Outsourcing environment

Corporate/Enterprise Performance Management

Consultants have skills across the entire Performance Management spectrum including:

Balanced Scorecard implementation
Use of Six-Sigma methodologies
Activity Based Costing models
Use of related software tools and MIS systems

Consultants can help clients use these tools to align their organisation and the related behaviours with the key strategic goals that they set. Typically, this process will involve helping them to identify and evaluate these goals, collect the associated data analysing patterns and performance impediments and improvement opportunities.

Finance Operating Model Design

Consultants work with CFOs and Executive Management to evaluate their current Finance Operating Model and develop a future vision for Finance aligning it with overall business requirements and strategy. Often this will include a review of current finance systems and the potential for Shared Services or Outsourcing of Finance functions.

Consultants can work with the client to evaluate alternate operating models and develop recommendations and, if required, a business case and implementation 'Route Map'.

Finance Processes & Controls Effectiveness

In recent years, due to both the implementation of the Sarbanes-Oxley Act in the US, with international implications and a growing awareness of the prevalence and risk of fraud, there has been an increased focus on the internal controls environment generally. Finance Effectiveness Consultants with extensive Sarbox implementation and internal audit operations experience can assist in:

Evaluating client controls environment and making recommendations for improvements
Preparing controls documentation
Testing the effectiveness of controls
Advising on and assisting in implementation of best practice and SOX compliant processes

Finance Vision & Strategic Planning

It is essential to periodically assess whether a Finance function is properly aligned with the wider business, performing at a high level and meeting aspirations. Consultants can help clients evaluate their current organisational and systems environment and shape a 'route map' towards a more effective Finance function. They can bring the experience of managing and delivering change in similar organisations and knowledge of current finance best practices to help shape and implement this future vision.

Consultants also assist in the Strategic Planning process including the establishment of the planning infrastructure, QA of current planning processes and establishment of long-term tools and behaviours that help clients re-evaluate their strategic plans on an ongoing basis and embed this into the organisation.

Specifically, they can assist in:

Performing a SWOT analysis to identify a clients strategic strengths, weaknesses, opportunities and threats
Set their strategic objectives and articulate these
Prioritise
Prepare short, medium term and long term plans
Develop and implement any associated reporting tools
Roll-out the plan

IFRS Implementation

The impetus towards global harmonisation of accounting standards goes hand-in-hand with the need many public organisations and private companies face to move from localised reporting, based upon UK GAAP or other accounting conventions to reporting on an IFRS basis.

Consultants support clients with:

The planning and project management of the transition where required
Ensure that clients continue to meet Local Reporting Requirements
Avoid any costly mistakes
Take the opportunity to re-assess their reporting process and underlying Chart of Accounts, including the implementation of Common COA structures
Embed IFRS knowledge and 'know-how' in their Organisation
Most importantly understand the options available under IFRS and help clients select the most appropriate ones for their circumstances

Merger Integration

Once the 'deal has been done', the challenge remains to integrate the back office functions, including Finance and to deliver planned savings. Consultants can:

Project and Programme Manage the integration process providing objective and experienced input
Evaluate existing Financial Management, ERP and other systems, business requirements and strategic goals to help design the future Finance Operating model and/or the Route Map to get there
Work with related functions - HR, IT etc - to deliver a coherent and coordinated integration

Outsourcing Advisory

Consultants assist clients throughout the whole lifecycle of an outsourcing project. Typically this could cover any or all of:

The design of the future operating model and evaluation of different options
Business case development
Evaluation and selection of outsourcing partners including scope of services and contract negotiations
Project and programme management of an Outsourcing Transition
Benefits tracking and realisation
Post Go-Live stabilisation
Performance improvement initiatives
Troubleshooting, turnaround and termination of services scenarios

Risk Management

Risk Management consultants can help clients manage and mitigate financial and operational risks arising across the business, including technology, tax, treasury, commercial and legal risks. Typically they can assist in:

Creating or updating an effective risk governance structure and reporting framework
Meeting regulatory requirements
Meeting stakeholder and investor requirements and expectations
Performing stress tests
Providing, in some cases, relevant industry specific skills and experience e.g. Financial Services.

Shared Services

The implementation of a Shared Services structure for Finance and/or other functions, such as HR, IT and Procurement, presents an opportunity to achieve economies of scale, leverage technology and best practice. It also provides an enterprise-wide platform to support further improvement initiatives. Consultants work across the entire lifecycle of Shared Services including:

Development of Business Case
Operating Model Design and Scope analysis
Integration with ERP systems
Implementation and migration of existing entities
Post go-live stabilisation
Performance improvement within live SSCs
Benefits realisation
Development of KPIs and Service Level Agreements

Corporate Treasury

The effective management of cash and liquidity is a challenge at any time, but has been especially brought into focus by the impact of the credit crunch in recent years. Treasury consultants can provide particular skills and experience in the following areas:

Evaluation of Treasury systems and banking relationships and costs
Provision of advice on effective Treasury Organisation design
Managing counterparty risks
Review procedures and controls

Working Capital Optimisation

Consultants add real value is in the discipline of Working Capital Optimisation. Recently the Credit Crunch has brought the management of cash and short-term liquidity more and more to the forefront as a key measure of the health of any business.

Working across the payables, receivables, stock and supply chain elements of a client's business Consultants help to design and implement effective process improvements which deliver measurable impacts to cash and working capital management and related forecasting activities.

If you are a qualified accountant who doesn't want life to revolve around the monthly reporting cycle, F&PM offers you a client facing, project driven value-add role that can genuinely accelerate your career.

If you are looking to move into Consultancy for the first time or you are currently a Consultant operating in the F&PM space and are considering your options MWN can provide you with widest range of opportunities within Financial Management consulting in the UK. For further details please contact Peter Nicholls on 07770 915407 or pete@mwn.co.uk

If you are a client looking for an experienced recruitment team to represent your company and secure the best possible candidates, please contact Genene Cooper on 07808766707 or Genene@mwn.co.uk