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.
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.
Decentralized and fragmented team
Low resource utilization
High Cost of resources
Lack Training and Learning curve path
Cross training capabilities
Optimised resourcing through talent arbitrage
Higher people efficiency
Skilled staff for specialised roles
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
Streamlined processes across finance function
Automating repetitive tasks using RPA
Timely & accurate reporting
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
Agile turnaround times
Digitalisation of manual processes
Strategic automation for building efficiencies
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 stream mapping
Quality Management and Six Sigma processes
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.
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.
Future ready operations
In today’s post-COVID world, digital transformation is at the top of the several boardroom agendas. With evolving customer expectations, stiff competition, everchanging legislations, and a higher need for streamlining operations, businesses need to focus on reinventing and innovating at all times to stay on top of their game. In fact, a recent IMA study found […]Read More
The world of finance is witnessing a paradigm shift in today’s dynamic marketplace. Frequent legislative changes, rising expectations from the finance department, and data-driven decision-making have become the norm. Cash remains ‘King’ and it’s even more important for finance teams to run and maintain an efficient record-to-report (R2R) function. R2R is a highly specialized finance […]Read More
Multi-process finance & accounting outsourcing will be worth US$16.5 Billion by the year 2025. Quite clearly, firms are not thinking twice about an outsourced finance department, if it is bringing a slew of benefits to the table, without breaking the bank. Yes, there is no doubt that outsourcing your finance functions will improve process efficiency, improve productivity, […]Read More
QX Finance & Accounting Services helps mid-to-large enterprises reduce F&A operations costs, improve service quality, and accelerate process optimisation
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.
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.