Often organizations identify the need for process improvement/reengineering when the existing processes and operational set up are being overlooked for years leading to unmanageable operational issues and higher cost of Finance.
At HCL, we come with the flavours of industry and domain expertise, well-tested and proven framework and competitive people.
Our BPR methodology follows a dynamic and robust process capture methodology which involves direct and in-direct interactions with the client business and process owner’s and Subject Matter Experts.
Organizations are moving towards a centralized approach in running their operations while taking advantage of the globalization, access to global resource pool and modern age technology support to reduce their cost of operations.
Co-sourcing/Outsourcing and Shared Services provide an opportunity to enable their finance stream to focus more on analysis, decision-making, cost control and other value adding activities than on transactional mundane.
We offer various services including advisory for Planning (establishment of shared services setup, Identification of processes to be centralized/decentralized), Structuring (define new business processes) and transition program management. Our SSA roadmap is provided below:
The best in class companies have always managed to foster innovation and improvement in their operations in order to manage costs effectively. Typical cost management initiatives undertaken by the leaders are Cost of capital reengineering, Policy changes & discretionary spend management, Shared services/co-souring, Organization redesign and BPR.
Our Strategic Cost & Operational Reengineering approach focuses on implementing Top-down and Bottom-up strategies to cut down the operational cost of the organization.
SCORE is an ideal solution for pro-active organizations looking forward to reap the benefits of internal efficiency and controls. The SCORE approach will aim to identify the various potential saving opportunities across all functions in the organization.
On one end, there are myriads of external challenges like competition, stakeholder expectations and supplier management. On the other hand, the regulators across the globe have been enforcing new compliance requirements and responsibilities for the CEO and CFO. In this situation, it is extremely important for the CEO and CFO to understand, monitor and manage the corporate performance in order to enhance their profitability.
Application vendors have already filled with the market with numerous CPM tools and products posing the need for careful evaluation of the best fit tool for the organization.
At HCL, We offer tool based and non-tool based advisory and implementation services for corporate performance management.
Our CPM programs begin with a goal mapping exercise whereby the operational goals are aligned to the strategic vision and mission. This is followed by the analysis of key business requirements, establishment of metrics and dashboards for monitoring.
Right from ERP to applications catering to specific finance functions to CPM, there has been an increasing number of application packages and tools in the market. The best of the products is not always the best fit for the organization. Organizations differ from each other not only by size and nature of business, but also by geographic scope, processes and the challenges faced by them. Hence it is extremely important to objectively and meticulously select the application which best fits the needs of the organization.
At HCL, we offer a carefully designed and integrated package evaluation and selection services over a wide array of finance processes and other business functions.
Our proprietary PacE methodology is devised based on a numeric scoring model eliminating the fear of being mislead by subjective thoughts. Our framework provides a comprehensive outlook into various factors like vendor fitment, product fitment, cost fitment, usability and flexibility to changes.
Often organizations undertake ERP implementation/migration and application migration activities without performing a process base lining exercise. The outcome of such implementation leads to performance failure and lost opportunity to enhance process to accommodate future business requirements.
Our core finance consulting team offers process blueprinting/base lining and business analysis solutions for both product vendors as well as corporate for various initiatives depicted below:
During this exercise, we analyze the current state business processes, identify future state business changes & requirements, analyze and redesign the future state process, detail out the functional requirements and also incorporate the regulatory compliance requirements.
The Finance function is always in the limelight being subject to multiple regulatory compliance requirements and the necessity to be highly transparent on financials and reporting.
In order to help our clients on various facets of regulatory compliances, we offer Audit Facilitation and GRC services for effective and timely compliance with SOX 404, SEPA and other regulations. Our services include regulatory requirements analysis, strategy for compliance, internal controls assessment, risk assessment, implementation and periodic compliance assessment.
We also offer an innovative framework, the “Integrated Compliance Solutions”, for large global organizations to meet their multi-geographic diversified regulatory compliance requirements.