Operating on an Ailing Finance Department
Life is Good
Picture this…you’re one of the largest and fastest growing surgical services businesses in the country. Public and PE-majority owned, you have more than 180 locations nationwide, providing exceptional integrated healthcare experiences between providers and patients. You’re on a successful mission to enhance patient quality of life through partnership and compassionate, personalized care.
Services
Finance Function Transformation
Business Process Outsourcing & Optimization
Financial Close Solution Implementation
KPIs & Dynamic Dashboards
Big Challenge
But, your finance department isn’t entirely healthy. You’re paying premium compensation for professionals who are dissatisfied with their work due to the large volume of manual and data entry activities dispersed across disparate systems. (Each month, AP manually processes 10,000+ invoices and posts 4,000+ journal entries supported by 5,000+ reconciliations.) Your finance team is unhappy…and you’re unhappy because you’re struggling to improve finance processes while reducing costs. So, you decide you can save money by outsourcing accounting and AP work to a labor arbitrage partner. The goal is to find $300,000 in savings. But your sponsor isn’t sure the plan is sound, and they want outside expertise.
Help Arrives
So, you turn to Accordion for a 4-week project to vet and validate your plan. With surgical precision, Accordion’s team of multi-disciplinary experts reviews the treatment plan and dissects the broader anatomy of the finance department (its people, processes, and technology). Accordion says you could follow the initial plan, which would reduce some of the unpleasant symptoms (employee dissatisfaction and high costs). Or, Accordion could perform a more substantive operation to actually cure the finance department of its real illness: disparate systems, faulty data, and a decentralized environment created as a result of rapid growth and multiple acquisitions.
You listen to the experts and pivot from a short-term AP project to a 4-step CFO transformation program, engaging a multidisciplinary Accordion team with experience in CFO technology, transaction execution, strategic FP&A, operational and technological accounting, and, of course, CFO-driven transformation.
The 4-Step CFO Transformation Program
Life is Even Better
Now your Accordion-led CFO-driven transformation program has saved you $10M, and improved company liquidity by $30M. Accordion’s experts have helped you reduce finance team headcount, where warranted, via outsourcing and automation, meaning your current team is comprised of exceptionally talented finance professionals who are engaged in meaningful work, and are immeasurably more satisfied. And, because of the successful implementation of the Accordion transformation initiative, the market now considers you best-in-class for your innovative digitization within finance.
