Streamlining Global F&A Operations

A Case Study in Centralization for a Global Leader in Orthopaedics

Client Challenge

A global leader in orthopaedics faced significant challenges in their finance operations. The primary issues included a decentralized finance structure with limited standardization across various business units (BUs), leading to inefficiencies, duplication of work, and high governance and coordination costs.

Response

In response to these challenges, a comprehensive project was initiated to centralize and optimize the finance operations (P2P, O2C, R2R). Extensive desk research on current finance operations was conducted, gathering data and verifying the baseline. Benchmarking against industry standards was also performed to identify best practices and improvement opportunities. Potential sourcing scenarios were defined, including the objectives and criteria for each scenario. Detailed tender documentation was prepared, and a tender procedure was initiated, which included multiple site visits in Eastern Europe. The project also included the design of a governance structure to support the transition to a Finance Shared Service Centre (FSSC) in Poland. This involved specifying governance principles, structure, roles, responsibilities, and change management processes.

Outcomes

The centralization of finance operations led to significant efficiency gains by reducing duplication of work and improving process standardization. This also facilitated better leverage of the global footprint of the company. The new service delivery model drove cost efficiency and improved the quality of The project ensured compliance with local legal requirements and supported the growth strategy in new markets. The governance design facilitated collaboration between regions, HQ, and the FSSC, ensuring a smooth transition and ongoing support.
Streamlining Global F&A Operations

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