In order to make better decisions all organizations should have a single source of financial truth. Nowhere else is this more readily apparent than in the CFO office. That’s why Affecto offers the best practices, tools and services to develop a fact-based decision culture in this sector.
To increase an organization’s performance continuously, you need to build on a solid foundation, providing decision makers near real-time transparent financial information. Starting from the simple things such as combining financial and operational data and providing management dashboards for on-the-go analysis, all the way to executing finance transformation programs by renewing key systems and processes such as ERP’s, consolidation, planning and profitability management.
Affecto has developed a technology-independent concept for financial reporting based on best practices. Called ‘Smart Consolidation,’ we used it to accelerate the specification development and illustrate at an early stage the full scope of the solution. The basic solution can be extended with modules such as XBRL to further integrate the report from end to end.
Managing profitability instead of reporting costs
Affecto has delivered profitability and cost management solutions to enable rapid profitability analysis of a company’s entire value chain by applying activity-based costing and bill-of-materials methodologies. The outcome is a deeper understanding of the true profitability of specific products and services, customers and sales channels, enabling management to take timely, corrective action.
Using driver-based planning to save time and improving forecasting accuracy
A key element to improving the planning and forecasting process is to be able to model how real world transactions turn in to revenue and costs. Using driver-based planning allows line managers and controllers to share a common language to describe business outcomes, and analyze likely scenarios. By adopting rolling forecasting as well, companies can reap the benefits of a quicker analysis-action cycle and forego a traditional budget, saving more time to focus on the business.
And finally, we always approach assignments with the long-term relationship in mind. That is why we have partnerships with all the key CFO office technology providers: one size will never fit all.
Affecto’s CFO Services provides an unique combination of finance, industry and advanced analytics expertise and thus provides high business value to CFO’s office. On top of wide finance core offering, we enrich customer solutions with software robotics, advanced analytics, consumer data and operative planning (Sales & operation planning – S&OP).
Our finance expertise areas are planning (planning, budgeting, foresting and reporting), controlling (profitability & cost management) and financial reporting & management. We help our customers to improve their strategic planning, budgeting, rolling forecast, driver based planning, legal consolidation, disclosure management, cost calculation, sales and variance analyses.
We provide following services:
- Technology and business process consulting
- Reporting and business intelligence
- Advanced analytics and as-a-service analytics
- Application management
|Petrus Metsälä||Tina Kragelund|