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.

Scope

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.