Consultancy Case Study

Finance Transformation

Objectives & Project Background

A major online and home shopping retailer was operating with six separate finance functions across four locations. Parkwell were engaged to review finance functions across the group and set up a single shared service centre.


Anticipated Benefits

  • The single shared service centre would eliminate the inefficiencies, duplication and divergent processes and policies which had arisen under the separate functions.
  •  A single shared service centre would allow for a reduced headcount, improved control over the function, a reduction in operational risk and more scalability for the client’s future plans.


Parkwell identified the stakeholders, including sponsors and key users, and interviewed them to establish their needs.

  • Having recommended a necessary headcount reduction of 25%, we liaised with HR to expedite this process and the TUPE transfers that were required.
  • We used our knowledge of best practice finance processes to develop a single set of processes for the new finance function.
  • We implemented a single version of the finance system and migrated historic data to it.
  • We developed and implemented a user acceptance testing approach.
  • We identified additional training requirements.
  • We delivered training for staff on the operation of new processes.


  • A new finance organisational structure, including recommendations for appropriate staff numbers and detailed job descriptions for each role.
  •  A document of new finance function processes and training sessions on their use.
  • A new management reporting pack.
  • A new chart of accounts.

Project Conclusion

The project was implemented to the agreed timescale and was deemed a success.

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