A CPG company was able to improve their working capital, DPO and days to close by outsourcing Finance Operations.
Business Challenge:
A CPG client was looking to reduce costs and improve organization agility for their finance department.
How We Helped?
Shared worked with the CPG company to identify scope for outsourcing vs retained staff and put a transition plan with multiple waves
Starting with the low complexity finance process – Accounts payable, over a period of 14 months transitioned the identified processes to our delivery center in India
Post stabilization, we were able to identify opportunities for process standardization, streamlining and automation
We leveraged analytics to help client improve their payables and reduce their DPO, improve working capital
Additionally, we built dashboards to provide visibility to the client for key metrics that matter and the health of their finance operations
Business Outcomes:
60% cost savings
24% improvement in working capital
15% reduction in manual journal entries and time to close