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EFaaS™ for the CFO

EFaaS™: Enabling the All-in-One CFO to aim higher

As a CFO, many roles are expected of you—a strategist, an operator, a steward, a catalyst, a decision-maker, and a problem-solver.  All this amidst unrelenting challenges such as government interventions, tight corporate budgets, economic downturns, financial market instability, regulatory compliance, increasing competition, price wars, cost and revenue pressures, political risks and much more.

However there is a way to break free from these pressures. You can make your reactive finance function proactive to the greater needs of your business and be more effective as a strong business partner. CFOs of major firms look to achieve multi-billion dollars of cost take-out from their operations. They are typically facing the following issues:

  • Inconsistent global & local finance processes
  • Complex finance function landscape
  • Lack of standardization of General Ledgers
  • Multiple handoffs, reconciliations and manual intervention
  • Lack of analytical capabilities that hinder customer and business insights
  • Significant resource deployment in the function
  • Risk and regulatory compliance management

HCL’s EFaaS™ is specifically tailored to address challenges in Financial Reporting. In most Finance organizations, group consolidation requires lot of manual reconciliations and normalization of output from multiple data sources & Ledgers. This is an expensive and time consuming process which sometimes also leads to inaccurate internal and external reporting, thus reducing the time for more value added analysis.

Through EFaaS™, HCL establishes a global Business Services operating model, with standard processes& systems and a strategic governance framework that transforms end-to-end reporting services for both internal and external stakeholders of the organization.  This substantially improves the quality and timeliness of the period end ‘close’ process and enhances control and regulatory compliance capabilities

HCL’s EFaaS™ for the Finance function offers the following benefits:

  • Helps manage the Finance Function on an end-to-end basis and moves it to “best-in-class” practices
  • Facilitates the adoption of standardized chart-of-accounts
  • Provides timely, accurate and  value added reporting for internal and external stake holders & eliminates  manual reconciliation
  • Consolidates multiple instances of application and data warehouse platforms
  • Enhances Governance & Control  to improve Regulatory Compliance
  • Business “Outcome based” constructs where in HCL puts “skin in the game” to ensure success of the transformation

HCL collaborates with global strategic partners such as the Global Big 4 Consulting firms, to help create these utilities or shared service centers for our clients. These partnerships ensure:

  • Benchmarking with world class enterprise functions
  • Cost / benefits evaluation
  • Performance and change management frameworks
  • Stake holder assessments and leadership alignment
  • Communications strategy

By shifting from a transactional way of working to a transformational one, EFaaS™ has been found to be very successful in transforming the finance functions of many organizations, making them more proactive and agile to change. By taking charge of your finance function, HCL immediately releases pressure on your P&L, allowing your business to truly transform.

 

EFaaS for CFO

 
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We will treat any information you submit with us as confidential. Please read our privacy statement for additional information.