Insights

Finance Function Assessment and Transformation Solutions for a Publicly Traded Utility Company

finance function assessment and transformation

 

Use Case

A publicly traded utility company with roots dating back more than 170 years was in need of a comprehensive assessment of its current-state finance function. Providing services to more than 200,000 customers, the company sought actionable intelligence on how it could better manage existing operations and fuel future growth.

The firm engaged CrossCountry Consulting to perform a series of technical analyses and provide improvement recommendations within the finance function.

Our Approach 

The cross-functional transformation experts at CrossCountry deployed a unique finance transformation methodology to meet the client's needs.

This approach included:

  • Producing current-state process and technology diagrams (depicting the current process and technology infrastructure for accounts payable, fixed assets, business unit reporting, financial reporting, and capital/budgeting processes).
  • Developing potential future-state organization structures.
  • Suggesting areas for future investment and prioritization.
  • Providing short-term recommendations to generate quick wins designed to alleviate current process pain points.
  • Providing long-term recommendations to optimize the finance function of the future.

Our Impact 

Due to CrossCountry's work, the client was able to:

  • Determine areas within the business that needed attention to facilitate growth plans.
  • Review benchmarking information to understand how peer organizations operated and how the finance function could offer business units greater support.
  • Provide management with new positions and activities the finance function could perform, such as acquisition due diligence.

 


 

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