Many business processes suffer from traditional, often uncoordinated procedures. As a result, competitiveness often suffers due to a lack of agility, high process costs and a lack of transparency relevant to decision-making. Many companies have recognized these weaknesses, some have completed extensive transformations, others are in the midst of them, while still others have broken off harmonization efforts or have not addressed them at all. The establishment of a promising foundation of coordinated data, processes and IT systems is an essential factor for being able to survive with constantly increasing competition. The path to this goal must be active and sustainable.
Heterogeneous Processes, Systems & Data as the Reason for Lack of Agility
Historically grown and often highly heterogeneous process and system landscapes in finance and accounting often lead to lengthy, cumbersome and expensive projects, which are aimed at adapting processes and systems to changes in business requirements. An agile, timely response to changing business requirements is often virtually impossible. Opportunities are not recognized or taken advantage of, potential risks and their effects usually increase unnoticed and often lead to high costs only at a later point in time. In addition to expensive change efforts, heterogeneous landscapes are also usually characterized by high maintenance costs to maintain operations and the status quo. A multitude of existing process-related interfaces, system breaks, redundant data collections and technically complex system interfaces complicate the improvement processes.
This results in the necessity for time-consuming manual coordination work to achieve comparisons of results. The available potential of existing systems is not used, among other things due to lack of integration of the modules, lack of knowledge of the systems or clean mapping of changes in business requirements. Even if the hurdle for the implementation of harmonization efforts is often high, this should not mean that organization cannot be set up for the future.
Successful Harmonization Requires Comprehensive Know-how
The development and implementation of harmonization initiatives usually requires a combination of procedural, technical and IT expertise, complemented by the necessary professional know-how. Knowledge of what is “state of the art” and of future-oriented approaches as well as familiarity with industry-related standards are essential. A further key to the successful implementation of change efforts is the early and active management of changes (change management) and the expectations of all stakeholders, whereby psychological aspects should not be neglected. The vision and its benefits, as well as the implementation planning, should be transparent, understood and supported by all concerned.
The FAS AG Harmonization Approach
FAS AG supports you holistically in your harmonization efforts in finance and controlling. From the analysis, development of the vision, specification and determination of a detailed plan, to its implementation and ongoing optimization. Our proven process and technical experts, the technical know-how and our partner network let us provide you with complete and result-oriented support in your projects. We support you in harmonizing existing process structures, defining and implementing homogeneous target processes, determining and implementing the necessary technical adjustments in the affected IT systems, establishing a “single point of truth” as the basis for homogeneous processes, and efficient reporting. In addition to our comprehensive understanding of process management, we also make use of new technologies such as process mining for the reconstruction, analysis and design of processes. In addition, our comprehensive service portfolio enables us to provide targeted support and add further necessary service components in finance and accounting.
If you are interested or have any questions, please contact us.