Finance Transformation Consulting
Drive business excellence with advanced finance transformation services. Implement cutting-edge technology and processes—Call us today!
QX’s Finance Transformation Overview
A disruptive economy has led to a significant change in the CFO’s role and the finance function. A post pandemic world has resulted in CFO taking the driver’s seat to manage risks and ensuring business continuity. From optimising cash flows, reducing revenue leaks to better reporting, the finance function has been responding with agility to dynamic business conditions. The CFO’s primary role has evolved to become a trusted advisor to the CEO and the board and ensure improving organizational resilience.
QX Global Group’s finance transformation consulting services enables the CFO and the finance function to respond with agility to changes in the business with a highly optimised operating model. Using our unique 3P approach; the power of PEOPLE, PROCESSES and cutting edge PLATFORMS, QX helps deliver innovative outsourcing and business process management solutions to transform the finance function.
“As more organisations undergo business transformation, the finance function need to make sure they stay ahead of the transformation curve by optimising their operations.”
Mahesh Jain, CEO,
QX Finance & Accounting Outsourcing Services
The CFO Imperative
Our CFO Value Creation Approach
QX’s CFO Value creation approach addresses the emerging challenges of the CFO to create positive business outcomes and drive higher process efficiency. At the core of our 3P approach, is aligning people, process and platforms (technology) coupled with robust governance policies that drive value across the finance function and the entire organization.
QX’s CFO Value Creation Framework
Key CFO Challenges
Decentralized and fragmented team
Low resource utilization
High Cost of resources
Lack Training and Learning curve path
Cross training capabilities
VALUE CREATION
Optimised resourcing through talent arbitrage
Higher people efficiency
Skilled staff for specialised roles
KEY CFO CHALLENGES
Lack of standardization and rationalization
High effort during critical path leading to a longer closing, consolidation & reporting
Issues with quality of input received
High volume of Adhoc transactions
Multi hands off due to lack of best practices
Lack of visual management
Risk of Incorrect accounting and reporting
VALUE CREATION
Streamlined processes across finance function
Automating repetitive tasks using RPA
Timely & accurate reporting
KEY CFO CHALLENGES
Low First Pass Yield
Longer cycle time due to high manual efforts and multi hands off across processes
No tracking capabilities due to manual ways of working
Excel and outlook usage leads to low technology penetration across functions
Lack of Automation across processes
No Active task monitoring during critical path
Lack of web based solutions for enhanced visibility
Lack of Data Management capabilities
VALUE CREATION
Agile turnaround times
Digitalisation of manual processes
Strategic automation for building efficiencies
KEY CFO CHALLENGES
Lack of proper write off policy
Non standard threshold limits
Segregation of Duties to many staff
Lack of Authorization policy
No Policy for Aged and Open Items
Ineffective Quality Management System
Lack of controls across activities
VALUE CREATION
Defined SLAs
Value stream mapping
Quality Management and Six Sigma processes
QX F&A Business Process Consulting Approach
Our finance & accounting business process management consulting approach ensures remodeling your finance operations for higher efficiencies and better business outcomes. From process mapping to creating new operating models such as shared services or global business services (GBS), QX helps you transform your finance & accounting function and prepare you for resilient operations.
The Finance Transformation Framework
QX’s finance transformation framework involves four fundamental stages to achieve your business goals. From laying the foundation to evolving into an intelligent finance operations function, QX supports your organization through each stage ensuring the journey is smooth and focused on end business outcomes.
FOUNDATION
Stable operations
- Process Standardization
- Track Productivity
- Control Deployment
- Reduce NVA
- Policy & Practice tracking
- KPI/ SLA Tracking & Reporting
BENEFITS
- Process Standardization
- Track Productivity
- Control Deployment
- Reduce NVA
- Policy & Practice tracking
- KPI/ SLA Tracking & Reporting
AUTOMATED
Efficient operations
- Intelligent Workflows as per business needs
- Digital Reporting – Critical Metrics
- Intelligent RPA and ICR
- OCR Adoption with ML capabilities
- Self Service portals
- Language Support
BENEFITS
- Incremental productivity – tracking and reporting
- Reduction in cycle time across F&A
- 100% visibility to all processes through workflow
- Driving touchless processing and reduce hand off
- Effective work allocation and monitoring
SMART
Predictive operations
- Enhanced Control & Compliance
- Touchless Processing – Cloud based technology – F&A
- Data mining for transformation
- Design Thinking
- Maturity Assessments – Benchmarking
BENEFITS
- Top Quartile Performance
- Touchless processing and STP
- Real time process health insights
- Improves Vendor/ Supplier relation
- Optimum resource utilization
INTELLIGENT
Future ready operations
- Augmented Tools with AI and Cognitive features – F&A
- Predictive Analysis through Tools
- ERP Implementation and Enhancement
- Intelligent Insights Tools
BENEFITS
- Future Ready with zero defect operations
- Potential working capital impact by $XX
- Real time business decision making
- Best in class at industry level
- Intelligent end to end operation – Global
QX Tech Stack
Business Transformation Solutions
Finance & Accounting (F&A) Transformation
QX Finance & Accounting Services helps mid-to-large enterprises reduce F&A operations costs, improve service quality, and accelerate process optimisation.
Know More
Recruitment & Staffing Firms Transformation
QX Recruitment Services delivers recruitment process outsourcing support to staffing businesses worldwide, helping them build an agile workforce with offshore service delivery model and scale productivity with enhanced efficiency.
Know More
Accounting Firms’
Transformation
QX Accounting Services provides cost-effective, reliable and secure outsourcing services to CPAS and accounting firms in the UK, USA, Ireland and Canada to resolve talent gaps, extend practice services and reduce costs while increasing profits and margins.
Know MoreSchedule a no-obligation consultation
Schedule a complementary 30-minute consultation with us to know how we can help achieve your business transformation goals.
Book a Consultation