Business Challenge
- Manually Intensive & Time Consuming Processes – Significant time, effort, and manual activities supporting virtually all aspects of planning, forecasting, and reporting including direct, indirect, materials, discretionary expenditures, allocations and rate modeling, and executive presentations
- Enterprise Reporting – Challenges producing standard reports and ad-hoc analysis given disparate systems, lack of data integration, sub-optimal tools, limited self-service, & needed system knowledge
- Legacy Technology – Reliance on increasingly outdated technology platform where key business needs (e.g. models for calculating allocations & rates, integration) were supported via Excel
- Limited What-If Analysis Capabilities – Very challenging to complete integrated, real-time what-if analysis, scenario planning, and simulations; dependency on fragmented Excel environment
Solution
- Process and Requirements Decomposition – Conducted discovery working sessions to understand current state issues, identify business needs, and document the existing solution architecture
- FP&A Maturity Assessment – Benchmarked BAE against industry competitors and best practices across key domain areas and capability attributes; conducted cross-functional prioritization exercise
- Finance of the Future Vision – Introduced leading practices and collaboratively developed an end-state performance management vision addressing process, technology, data / information, and people
- Roadmap – Created multi-year roadmap outlining key recommendations, prioritized initiatives, future state architecture, and necessary process improvements to achieve “Finance of the Future” state vision
Impact
- Catalyst for Change – Created awareness and understanding of the most important challenges and business needs, stakeholder alignment around the top business priorities and future state vision, and a compelling business justification for taking action
- Finance of the Future Blueprint – Created clear strategic and tactical “blueprint” for improving performance management capabilities through the roadmap and near-term implementation plan
