Finance + Controlling
The CFO is metamorphosing into the Chief Performance Officer, who will be even more involved than at present in the steering and management of business processes.
Our clients operate in an environment marked by transformations, transactions and integrations replete with projects and measures. The task is to strike the right balance between standardisation, automation and digitalisation of structures, processes and systems and to continuously adapt these to a market environment that is changing at an ever faster pace.
The mounting use of technologies such as robotics, process automation or outsourcing projects such as transformations in internal and external SSCs will result in the elimination of, or shift in, positions in the financial area. At the same time, the use of these technologies will also create new positions in the field of finance aligning with digital requirement profiles.
PUBLICATIONS ON THIS TOPIC
Accountant supports manufacturing company with annual financial statements on an interim basis
Accountant supports manufacturing company with annual financial statements on an interim basis
After various key players were absent due to illness in the finance department of an multinational manufacturing enterprise, the decision-makers were faced with the task of finding an experienced and independent accountant at short notice who could ensure the annual financial statements were properly prepared despite a very short training period and an unfamiliar ERP system.
When selecting the candidate, it was important to the management for the candidate to be technically skilled in preparing annual financial statements, able to quickly familiarise themself with an unfamiliar ERP system, have an excellent grasp of accounting processes and be willing to make sub-entries in the ledgers if so required. It was furthermore important to all stakeholders involved for the candidate to be very practical and proactive and inclined to question processes in day-to-day business while actively making suggestions for improvement.
In addition to producing a surprisingly prompt annual financial statement, which the company had not expected, and providing professional support for the annual audit, the interim manager also left behind a list of suggestions for improvement. These were meant to boost transparency in accounting while reducing the workload.
Interim Transition Manager for the establishment of an external shared service centre at a chemical company
Interim Transition Manager for the establishment of an external shared service centre at a chemical company
The management of an international group decided to outsource its accounting processes to an external shared service centre. An international project team was formed to support the transformation in terms of both the processes and the employees involved and to ensure communication with the various stakeholders.
In selecting the interim manager for the region Germany/Austria/Switzerland, stringent demands were placed on their experience and personality, especially in comparable large projects. In addition, the interim manager needed to have extensive conceptual and operational experience in all areas of accounting. It was also important for the candidate to possess excellent communication skills in order to be able to communicate confidently and authoritatively with various national and international stakeholders.
Health-Care Group is growing – high pressure and challenges in the consolidated financial statements
Health-Care Group is growing – high pressure and challenges in the consolidated financial statements
A health care company – which had its own clinics and training centres – was on a growth trajectory. The task was to prepare consolidated financial statements for more than 100 companies using new consolidation software. In addition, process analysis and optimisation in finance and accounting were required.
An interim manager (m/f/d) was needed who had well-founded knowledge in the specialised field of consolidation, was able to draw on extensive industry expertise and had a profound understanding of IT and process workflows. In addition, the manager also needed to be experienced in training schemes that involved the existing team.
The challenges in connection with the individual financial statements were identified and resolved so that consolidation measures could be initiated. At the same time, the new system was modified to align with the required process steps. The line of communication with the auditors was securely established and the finance team received practical training to support them in the new processes.
Treasury established after carve-out of an automotive supplier to private equity
Treasury established after carve-out of an automotive supplier to private equity
A multinational enterprise – an automotive supplier – divested a division to a private equity firm. The task was to speedily implement centralised functions, especially in Treasury.
The following requirements applied to the selection of the interim manager (m/f/d): Solid carve-out expertise and private equity experience, expert knowledge in liquidity planning and government reporting, internationality, expertise in the establishment of new functions (cash pool & factoring) and extensive SAP skills.
hahn+friends were able to quickly provide assistance with an interim manager. He contacted the private equity house, the old group and the banks involved in order to determine requirements and make sure they were met. The expert directly contributed concepts and strategies to quickly implement liquidity planning, a factoring programme and cash pooling, thereby reducing the time needed for implementation.
Interim finance expert to optimise finance and accounting and place it on a solid footing following US takeover
Interim finance expert to optimise finance and accounting and place it on a solid footing following US takeover
A multinational group of companies was expanding through acquisitions in Germany with a focus on current megatrends (e-mobility, telco and medical technology. As a result, previous processes, strategies and systems in the finance and accounting departments of the newly acquired companies were running up against constraints. New US GAAP reporting coupled with a fast closing, internationalisation and digitalisation needed to be assured and driven forward.
When handpicking the interim manager (m/f/d), the focus was on their personality structure. Especially colleagues working on site in particular needed to be confident going forward and benefit from training and support programmes. Of course, strict professional criteria also had to be met, including a high level of reliability with financial statements based on the German Commercial Code (HGB) & US-GAAP, international management experience, a sound knowledge of production, strong ERP skills and more. In addition, excellent communication skills in German and English along with management skills and sensitivity were considered essential.
In addition to the interim manager assigned, our in-house service was (stepwise) commissioned to put certain processes on a secure footing at short notice and bridge any gaps. Finally, our service portfolio was buttressed by our recruitment service, which enabled us to identify exactly the right expert for our client in the conventional labour market. This expert will be supporting our customer over the long term.
Nils Wacker
Partner Business Finance + Controlling
