The new CFO at a publicly traded Fortune 500 company was unhappy with his company’s current finance and accounting outsourcing arrangement. The service provider was underperforming, and material control weaknesses and audit risks threatened to derail upcoming debt negotiations. The CFO decided the best solution was to bring the finance and accounting function back in house and engaged A&M to transform the reestablished finance organization.
A&M developed a new operating model and roadmap including initiatives to improve business partnerships in planning and forecasting, centralize key functions, update policies and procedures, implement new planning and consolidation software, and develop a 5-year technology plan for all finance and accounting systems. The combined efforts significantly increased performance and confidence in financials and controls, leading to a successful debt renegotiation and decreased audit risk.