optim2 - high performing finance

6
Building a high performing & partnering finance organisation optim2 is a management consultancy that works with leading Australian companies to assess and improve their Finance organisation. optim2 has deep expertise in delivering strategic reviews of the Finance organisation, re-designing Finance processes, measuring the performance of Finance, and leading Finance transformation initiatives. In building a High Performing and Partnering” Finance function, the three big questions clients consistently ask us are: QUESTION optim2 capability Do we have the right Finance operating model to best support the business? ASSESSING FINANCE How do we design, build and implement high performing Finance processes? IMPROVING PROCESSES What are the right measures for Finance, and how do we compare? MEASURING PERFORMANCE Why optim2 provides the subject matter expertise to take your organisation to the next level. The optim2 difference is: FOCUS “this is all we do” We only consult on the Finance organisation, and will rapidly identify practical recommendations that succeed EXPERIENCE “no junior consultants” Our team has a minimum ten years experience, so you don’t pay for us to learn – we ask the right questions the first time DETAIL “PowerPoint is not a deliverable” Our deliverables are not “one size fits all solutions”, and we don’t consult by PowerPoint – clients deserve more detail TRACK RECORD “our clients recommend us” We have an enviable list of ASX, private, multinational and public sector clients – all our clients are references BENCHMARKS “metrics from over 50 companies” We sponsor the Australian Benchmark Initiative, the leading source of Finance benchmarks and better practice FOLLOW THROUGH “we implement our recommendations” We often lead the implementation of the recommendations that we make

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Page 1: optim2 - high performing Finance

optim2 is a sponsor of the Australian Benchmark Initiative. The Australian Benchmark Initiative was established to build a set of Finance benchmarks and facilitate the sharing of Finance better practice between Australian companies. Over the past couple of years the Australian Benchmark Initiative has become the leading source of Finance benchmarks in Australia, with benchmark and better practice studies including:

Purchase to Pay • Receivables • PayrollOver 50 of Australia’s leading organisation have participated. With median revenue of $850 million, median headcount of 1500 employees, and 35% being ASX listed, the studies provide a good quantity and quality of respondents. Each study focuses on a range of qualitative and quantitative factors, including metrics, process maturity and future improvement strategies, to allow companies to assess:

What does good look like?How am I performing against my peers?

What are the attributes of a high performing function?What is the optimal headcount for my team?

What should the cost of my function be?What are the key trends?

The quality and number of participants has ensured that the findings are a reliable reflection of what is currently happening across Australia, and provides clear insights and guidance for Finance process owners and business decision makers. More information can be found at:

www.australianbenchmarks.com www. .comSYDNEYLevel 12

309 Kent Street

Sydney NSW 2000

+61 2 8071 4155

MELBOURNELevel 8

350 Collins Street

Melbourne VIC 3000

+61 3 8676 0644

Building a high performing & partnering finance organisationoptim2 is a management consultancy that works with leading Australian companies to assess and improve their Finance organisation. optim2 has deep expertise in delivering strategic reviews of the Finance organisation, re-designing Finance processes, measuring the performance of Finance, and leading Finance transformation initiatives. In building a “High Performing and Partnering” Finance function, the three big questions clients consistently ask us are:

QUESTION optim2 capability

Do we have the right Finance operating model to best support the business? ASSESSING FINANCE

How do we design, build and implement high performing Finance processes? IMPROVING PROCESSES

What are the right measures for Finance, and how do we compare? MEASURING PERFORMANCE

Why optim2 provides the subject matter expertise to take your organisation to the next level. The optim2 difference is:

FOCUS “this is all we do”

We only consult on the Finance organisation, and will rapidly identify practical recommendations that succeed

EXPERIENCE “no junior consultants”

Our team has a minimum ten years experience, so you don’t pay for us to learn – we ask the right questions the first time

DETAIL “PowerPoint is not a deliverable”

Our deliverables are not “one size fits all solutions”, and we don’t consult by PowerPoint – clients deserve more detail

TRACK RECORD “our clients recommend us”

We have an enviable list of ASX, private, multinational and public sector clients – all our clients are references

BENCHMARKS “metrics from over 50 companies”

We sponsor the Australian Benchmark Initiative, the leading source of Finance benchmarks and better practice

FOLLOW THROUGH “we implement our recommendations”

We often lead the implementation of the recommendations that we make

ASSESSING FINANCE

IMPROVING PROCESSES

MEASURING PERFORMANCE

Page 2: optim2 - high performing Finance

ASSESSING FINANCEQUESTION TYPICAL SCOPE

Do we have the right Finance operating model to best support the business?

• Finance strategic review• Target operating

model definition

optim2 are routinely asked the questions – what should the cost of Finance be as a percentage of revenue?, or what should the headcount of Finance be? The questions raise more issues than they answer, including what is Finance, what is its role, and where are the gaps? To fully assess the Finance organisation both core and business embedded components need to be included, and it is critical to consider the different objectives of each component.

optim2 FINANCE ACCOUNTABILITY MATRIX

TRANSACTIONAL PROCESSING

ACCOUNTING & REPORTING

MANAGEMENT INFORMATION

PERFORMANCE & PLANNING

TECHNICAL ACCOUNTING

Example Functions

• Purchase to Pay• Invoice to Receipt• Payroll

• Month end• Financial reporting• Reconciliations

• Reporting• Costing• Analysis and insight

• Planning• Budgeting• Forecasting

• Treasury• Internal Audit• Taxation

Objectives

• Standardisation• Lower cost• Customer service

• Timeliness• Accuracy• Quality

• Consistency• Clarity• Business insight

• Decision support• Engagement• Action focused

• Expertise• Compliance• Oversight

The follow on question is, how does Finance become a better business partner? In response, optim2 assess the quality of your financial information (i.e. the ability to support business decision making) with the level of Finance integration with the business (i.e. people, process and technology).

INFO

RMAT

ION

QUA

LITY

STRESSED ADVISER“spreadsheet hell”

BUSINESS PARTNER“continuous improvement”

ACCOUNTANT“back office bookkeeper”

EFFICIENT CONTROLLER“limited business insight”

DEGREE OF FINANCE/BUSINESS ALIGNMENT

MEASURING PERFORMANCEQUESTION TYPICAL SCOPE

What are the right measures for Finance, and how do we compare?

• Finance dashboards• Service level agreements• Benchmarks• Better practice reviews

Performance measurement helps facilitate the continuous improvement of the Finance organisation, with three core components that optim2 is regularly engaged to assist organisation’s with:

1. Finance Dashboards

Finance dashboards provide the opportunity to monitor Finance organisation performance, with each team accountable for the results. Measures should be relevant and accessible, and include a balanced view which combines volume and performance metrics for each function.

Depending upon the maturity of the function, a selection of the following information may be included:

• Process (measures, targets)• People (turnover)• Customer (surveys) • Finance (budget)• Achievements

(continuous improvement milestones)

2. Service Level Agreements (Partnership Agreements)

Service Level or Partnership Agreements provide a basic contract between Finance and the business and assist in managing expectations and performance. Key components include:

• An overview of the services provided• Key activities delivered by Finance including business input required• Customer requirements of Finance, and the measures that demonstrate performance• The factors that may limit Finance to be able to meet the designated performance levels

3. External Benchmarks

External benchmarks provide a baseline against which an organisation can compare itself to peers. While benchmarks in themselves do not provide the answers, the better practice attributes of high performing organisations often provide guidance that an organisation should consider as part of their continuous improvement initiatives. optim2 has access to a range of benchmarks, including those from the Australian Benchmark Initiative (see overleaf).

QUESTION TYPICAL SCOPE

How do we design, build and implement high performing Finance processes?

• Re-design processes• Build policies and procedures• Support transformation

Process improvement, including standardisation, provides an opportunity to compare processes across an organisation, as well as against better practice, to support the design and build of a high performing future state. Typical optim2 process improvement initiatives include the transactional processing areas of Purchase to Pay, Payroll, Invoice to Receipt and Payroll, however, often include other Finance processes such as month end close, reporting and analysis.

optim2 CAN PROVIDE INSIGHTS ON HOW TO IMPROVE...

PURCHASE TO PAY INVOICE TO RECEIPT PAYROLL

• Purchase Orders• Payables centralisation• Trading terms• Purchasing Cards• Invoice automation• Supplier catalogues

• Credit assessment• Receivables centralisation• Trading terms• Collections management• Electronic invoicing• Receivables automation

• Time and attendance• Payroll centralisation• Payroll cycles and processing• Payroll reporting• Employee self service• Award interpretation

WHAT ROLE DOES SHARED SERVICES PLAY?As part of process improvement, Shared Services is often considered to enable efficient service delivery through standardisation and consolidation of ‘scattered’ common activities. In considering which activities are best suited for a Shared Service, the following matrix can be of assistance:

BUSI

NES

S O

RIEN

TATI

ON

...

ENTE

RPRI

SE

GENE

RIC CORPORATE/

FINANCE LEADERSHIPBoard reporting

Merger and acquisitionsRisk management

TRANSACTION SHARED SERVICECredit

Accounts PayablePayroll

General Ledger

BUSI

NESS

UN

IQUE

BUSINESS EMBEDDEDPerformance evaluationCommercial negotiation

Pricing strategies

BUSINESS EMBEDDED TRANSACTION PROCESS

Management reportingPurchasing

TECHNICAL SKILLS LOW COST PRODUCER

ADDS VALUE THROUGH...

IMPROVING PROCESSES

expertiseoptim2 has a strong track record of delivering detailed Finance assessments through a facilitative approach that engages stakeholders, and is backed by data to justify any recommendations. The outcome includes identification of opportunities for improvement, a fully defined future state operating model (organisation structure, headcount, accountabilities), and transformation plan to execute. The benefit is a business case for change, supported by a practical and realisable plan.optim2 typically delivers a detailed review of the Finance organisation in 4-6 weeks.

expertiseoptim2 are subject matter experts in leading Finance process improvement initiatives, including those involving Shared Services. The outcome is the rapid transformation to a high performing future state, with the benefits being improved efficiency and effectiveness, and customer service.optim2 typically delivers the full “end to end” re-design of a Finance process in 6-8 weeks, with implementation to follow.

expertiseoptim2 is regularly engaged to assist organisation’s in measuring the performance of their Finance function. This can include building dashboards, defining key metrics, agreeing service levels, and benchmarking between companies, or against external sources.

EXAMPLE: Basic Payroll dashboard

Page 3: optim2 - high performing Finance

ASSESSING FINANCEQUESTION TYPICAL SCOPE

Do we have the right Finance operating model to best support the business?

• Finance strategic review• Target operating

model definition

optim2 are routinely asked the questions – what should the cost of Finance be as a percentage of revenue?, or what should the headcount of Finance be? The questions raise more issues than they answer, including what is Finance, what is its role, and where are the gaps? To fully assess the Finance organisation both core and business embedded components need to be included, and it is critical to consider the different objectives of each component.

optim2 FINANCE ACCOUNTABILITY MATRIX

TRANSACTIONAL PROCESSING

ACCOUNTING & REPORTING

MANAGEMENT INFORMATION

PERFORMANCE & PLANNING

TECHNICAL ACCOUNTING

Example Functions

• Purchase to Pay• Invoice to Receipt• Payroll

• Month end• Financial reporting• Reconciliations

• Reporting• Costing• Analysis and insight

• Planning• Budgeting• Forecasting

• Treasury• Internal Audit• Taxation

Objectives

• Standardisation• Lower cost• Customer service

• Timeliness• Accuracy• Quality

• Consistency• Clarity• Business insight

• Decision support• Engagement• Action focused

• Expertise• Compliance• Oversight

The follow on question is, how does Finance become a better business partner? In response, optim2 assess the quality of your financial information (i.e. the ability to support business decision making) with the level of Finance integration with the business (i.e. people, process and technology).

INFO

RMAT

ION

QUA

LITY

STRESSED ADVISER“spreadsheet hell”

BUSINESS PARTNER“continuous improvement”

ACCOUNTANT“back office bookkeeper”

EFFICIENT CONTROLLER“limited business insight”

DEGREE OF FINANCE/BUSINESS ALIGNMENT

MEASURING PERFORMANCEQUESTION TYPICAL SCOPE

What are the right measures for Finance, and how do we compare?

• Finance dashboards• Service level agreements• Benchmarks• Better practice reviews

Performance measurement helps facilitate the continuous improvement of the Finance organisation, with three core components that optim2 is regularly engaged to assist organisation’s with:

1. Finance Dashboards

Finance dashboards provide the opportunity to monitor Finance organisation performance, with each team accountable for the results. Measures should be relevant and accessible, and include a balanced view which combines volume and performance metrics for each function.

Depending upon the maturity of the function, a selection of the following information may be included:

• Process (measures, targets)• People (turnover)• Customer (surveys) • Finance (budget)• Achievements

(continuous improvement milestones)

2. Service Level Agreements (Partnership Agreements)

Service Level or Partnership Agreements provide a basic contract between Finance and the business and assist in managing expectations and performance. Key components include:

• An overview of the services provided• Key activities delivered by Finance including business input required• Customer requirements of Finance, and the measures that demonstrate performance• The factors that may limit Finance to be able to meet the designated performance levels

3. External Benchmarks

External benchmarks provide a baseline against which an organisation can compare itself to peers. While benchmarks in themselves do not provide the answers, the better practice attributes of high performing organisations often provide guidance that an organisation should consider as part of their continuous improvement initiatives. optim2 has access to a range of benchmarks, including those from the Australian Benchmark Initiative (see overleaf).

QUESTION TYPICAL SCOPE

How do we design, build and implement high performing Finance processes?

• Re-design processes• Build policies and procedures• Support transformation

Process improvement, including standardisation, provides an opportunity to compare processes across an organisation, as well as against better practice, to support the design and build of a high performing future state. Typical optim2 process improvement initiatives include the transactional processing areas of Purchase to Pay, Payroll, Invoice to Receipt and Payroll, however, often include other Finance processes such as month end close, reporting and analysis.

optim2 CAN PROVIDE INSIGHTS ON HOW TO IMPROVE...

PURCHASE TO PAY INVOICE TO RECEIPT PAYROLL

• Purchase Orders• Payables centralisation• Trading terms• Purchasing Cards• Invoice automation• Supplier catalogues

• Credit assessment• Receivables centralisation• Trading terms• Collections management• Electronic invoicing• Receivables automation

• Time and attendance• Payroll centralisation• Payroll cycles and processing• Payroll reporting• Employee self service• Award interpretation

WHAT ROLE DOES SHARED SERVICES PLAY?As part of process improvement, Shared Services is often considered to enable efficient service delivery through standardisation and consolidation of ‘scattered’ common activities. In considering which activities are best suited for a Shared Service, the following matrix can be of assistance:

BUSI

NES

S O

RIEN

TATI

ON

...

ENTE

RPRI

SE

GENE

RIC CORPORATE/

FINANCE LEADERSHIPBoard reporting

Merger and acquisitionsRisk management

TRANSACTION SHARED SERVICECredit

Accounts PayablePayroll

General Ledger

BUSI

NESS

UN

IQUE

BUSINESS EMBEDDEDPerformance evaluationCommercial negotiation

Pricing strategies

BUSINESS EMBEDDED TRANSACTION PROCESS

Management reportingPurchasing

TECHNICAL SKILLS LOW COST PRODUCER

ADDS VALUE THROUGH...

IMPROVING PROCESSES

expertiseoptim2 has a strong track record of delivering detailed Finance assessments through a facilitative approach that engages stakeholders, and is backed by data to justify any recommendations. The outcome includes identification of opportunities for improvement, a fully defined future state operating model (organisation structure, headcount, accountabilities), and transformation plan to execute. The benefit is a business case for change, supported by a practical and realisable plan.optim2 typically delivers a detailed review of the Finance organisation in 4-6 weeks.

expertiseoptim2 are subject matter experts in leading Finance process improvement initiatives, including those involving Shared Services. The outcome is the rapid transformation to a high performing future state, with the benefits being improved efficiency and effectiveness, and customer service.optim2 typically delivers the full “end to end” re-design of a Finance process in 6-8 weeks, with implementation to follow.

expertiseoptim2 is regularly engaged to assist organisation’s in measuring the performance of their Finance function. This can include building dashboards, defining key metrics, agreeing service levels, and benchmarking between companies, or against external sources.

EXAMPLE: Basic Payroll dashboard

Page 4: optim2 - high performing Finance

ASSESSING FINANCEQUESTION TYPICAL SCOPE

Do we have the right Finance operating model to best support the business?

• Finance strategic review• Target operating

model definition

optim2 are routinely asked the questions – what should the cost of Finance be as a percentage of revenue?, or what should the headcount of Finance be? The questions raise more issues than they answer, including what is Finance, what is its role, and where are the gaps? To fully assess the Finance organisation both core and business embedded components need to be included, and it is critical to consider the different objectives of each component.

optim2 FINANCE ACCOUNTABILITY MATRIX

TRANSACTIONAL PROCESSING

ACCOUNTING & REPORTING

MANAGEMENT INFORMATION

PERFORMANCE & PLANNING

TECHNICAL ACCOUNTING

Example Functions

• Purchase to Pay• Invoice to Receipt• Payroll

• Month end• Financial reporting• Reconciliations

• Reporting• Costing• Analysis and insight

• Planning• Budgeting• Forecasting

• Treasury• Internal Audit• Taxation

Objectives

• Standardisation• Lower cost• Customer service

• Timeliness• Accuracy• Quality

• Consistency• Clarity• Business insight

• Decision support• Engagement• Action focused

• Expertise• Compliance• Oversight

The follow on question is, how does Finance become a better business partner? In response, optim2 assess the quality of your financial information (i.e. the ability to support business decision making) with the level of Finance integration with the business (i.e. people, process and technology).

INFO

RMAT

ION

QUA

LITY

STRESSED ADVISER“spreadsheet hell”

BUSINESS PARTNER“continuous improvement”

ACCOUNTANT“back office bookkeeper”

EFFICIENT CONTROLLER“limited business insight”

DEGREE OF FINANCE/BUSINESS ALIGNMENT

MEASURING PERFORMANCEQUESTION TYPICAL SCOPE

What are the right measures for Finance, and how do we compare?

• Finance dashboards• Service level agreements• Benchmarks• Better practice reviews

Performance measurement helps facilitate the continuous improvement of the Finance organisation, with three core components that optim2 is regularly engaged to assist organisation’s with:

1. Finance Dashboards

Finance dashboards provide the opportunity to monitor Finance organisation performance, with each team accountable for the results. Measures should be relevant and accessible, and include a balanced view which combines volume and performance metrics for each function.

Depending upon the maturity of the function, a selection of the following information may be included:

• Process (measures, targets)• People (turnover)• Customer (surveys) • Finance (budget)• Achievements

(continuous improvement milestones)

2. Service Level Agreements (Partnership Agreements)

Service Level or Partnership Agreements provide a basic contract between Finance and the business and assist in managing expectations and performance. Key components include:

• An overview of the services provided• Key activities delivered by Finance including business input required• Customer requirements of Finance, and the measures that demonstrate performance• The factors that may limit Finance to be able to meet the designated performance levels

3. External Benchmarks

External benchmarks provide a baseline against which an organisation can compare itself to peers. While benchmarks in themselves do not provide the answers, the better practice attributes of high performing organisations often provide guidance that an organisation should consider as part of their continuous improvement initiatives. optim2 has access to a range of benchmarks, including those from the Australian Benchmark Initiative (see overleaf).

QUESTION TYPICAL SCOPE

How do we design, build and implement high performing Finance processes?

• Re-design processes• Build policies and procedures• Support transformation

Process improvement, including standardisation, provides an opportunity to compare processes across an organisation, as well as against better practice, to support the design and build of a high performing future state. Typical optim2 process improvement initiatives include the transactional processing areas of Purchase to Pay, Payroll, Invoice to Receipt and Payroll, however, often include other Finance processes such as month end close, reporting and analysis.

optim2 CAN PROVIDE INSIGHTS ON HOW TO IMPROVE...

PURCHASE TO PAY INVOICE TO RECEIPT PAYROLL

• Purchase Orders• Payables centralisation• Trading terms• Purchasing Cards• Invoice automation• Supplier catalogues

• Credit assessment• Receivables centralisation• Trading terms• Collections management• Electronic invoicing• Receivables automation

• Time and attendance• Payroll centralisation• Payroll cycles and processing• Payroll reporting• Employee self service• Award interpretation

WHAT ROLE DOES SHARED SERVICES PLAY?As part of process improvement, Shared Services is often considered to enable efficient service delivery through standardisation and consolidation of ‘scattered’ common activities. In considering which activities are best suited for a Shared Service, the following matrix can be of assistance:

BUSI

NES

S O

RIEN

TATI

ON

...

ENTE

RPRI

SE

GENE

RIC CORPORATE/

FINANCE LEADERSHIPBoard reporting

Merger and acquisitionsRisk management

TRANSACTION SHARED SERVICECredit

Accounts PayablePayroll

General Ledger

BUSI

NESS

UN

IQUE

BUSINESS EMBEDDEDPerformance evaluationCommercial negotiation

Pricing strategies

BUSINESS EMBEDDED TRANSACTION PROCESS

Management reportingPurchasing

TECHNICAL SKILLS LOW COST PRODUCER

ADDS VALUE THROUGH...

IMPROVING PROCESSES

expertiseoptim2 has a strong track record of delivering detailed Finance assessments through a facilitative approach that engages stakeholders, and is backed by data to justify any recommendations. The outcome includes identification of opportunities for improvement, a fully defined future state operating model (organisation structure, headcount, accountabilities), and transformation plan to execute. The benefit is a business case for change, supported by a practical and realisable plan.optim2 typically delivers a detailed review of the Finance organisation in 4-6 weeks.

expertiseoptim2 are subject matter experts in leading Finance process improvement initiatives, including those involving Shared Services. The outcome is the rapid transformation to a high performing future state, with the benefits being improved efficiency and effectiveness, and customer service.optim2 typically delivers the full “end to end” re-design of a Finance process in 6-8 weeks, with implementation to follow.

expertiseoptim2 is regularly engaged to assist organisation’s in measuring the performance of their Finance function. This can include building dashboards, defining key metrics, agreeing service levels, and benchmarking between companies, or against external sources.

EXAMPLE: Basic Payroll dashboard

Page 5: optim2 - high performing Finance

optim2 is a sponsor of the Australian Benchmark Initiative. The Australian Benchmark Initiative was established to build a set of Finance benchmarks and facilitate the sharing of Finance better practice between Australian companies. Over the past couple of years the Australian Benchmark Initiative has become the leading source of Finance benchmarks in Australia, with benchmark and better practice studies including:

Purchase to Pay • Receivables • PayrollOver 50 of Australia’s leading organisation have participated. With median revenue of $850 million, median headcount of 1500 employees, and 35% being ASX listed, the studies provide a good quantity and quality of respondents. Each study focuses on a range of qualitative and quantitative factors, including metrics, process maturity and future improvement strategies, to allow companies to assess:

What does good look like?How am I performing against my peers?

What are the attributes of a high performing function?What is the optimal headcount for my team?

What should the cost of my function be?What are the key trends?

The quality and number of participants has ensured that the findings are a reliable reflection of what is currently happening across Australia, and provides clear insights and guidance for Finance process owners and business decision makers. More information can be found at:

www.australianbenchmarks.com www. .comSYDNEYLevel 12

309 Kent Street

Sydney NSW 2000

+61 2 8071 4155

MELBOURNELevel 8

350 Collins Street

Melbourne VIC 3000

+61 3 8676 0644

Building a high performing & partnering finance organisationoptim2 is a management consultancy that works with leading Australian companies to assess and improve their Finance organisation. optim2 has deep expertise in delivering strategic reviews of the Finance organisation, re-designing Finance processes, measuring the performance of Finance, and leading Finance transformation initiatives. In building a “High Performing and Partnering” Finance function, the three big questions clients consistently ask us are:

QUESTION optim2 capability

Do we have the right Finance operating model to best support the business? ASSESSING FINANCE

How do we design, build and implement high performing Finance processes? IMPROVING PROCESSES

What are the right measures for Finance, and how do we compare? MEASURING PERFORMANCE

Why optim2 provides the subject matter expertise to take your organisation to the next level. The optim2 difference is:

FOCUS “this is all we do”

We only consult on the Finance organisation, and will rapidly identify practical recommendations that succeed

EXPERIENCE “no junior consultants”

Our team has a minimum ten years experience, so you don’t pay for us to learn – we ask the right questions the first time

DETAIL “PowerPoint is not a deliverable”

Our deliverables are not “one size fits all solutions”, and we don’t consult by PowerPoint – clients deserve more detail

TRACK RECORD “our clients recommend us”

We have an enviable list of ASX, private, multinational and public sector clients – all our clients are references

BENCHMARKS “metrics from over 50 companies”

We sponsor the Australian Benchmark Initiative, the leading source of Finance benchmarks and better practice

FOLLOW THROUGH “we implement our recommendations”

We often lead the implementation of the recommendations that we make

ASSESSING FINANCE

IMPROVING PROCESSES

MEASURING PERFORMANCE

Page 6: optim2 - high performing Finance

optim2 is a sponsor of the Australian Benchmark Initiative. The Australian Benchmark Initiative was established to build a set of Finance benchmarks and facilitate the sharing of Finance better practice between Australian companies. Over the past couple of years the Australian Benchmark Initiative has become the leading source of Finance benchmarks in Australia, with benchmark and better practice studies including:

Purchase to Pay • Receivables • PayrollOver 50 of Australia’s leading organisation have participated. With median revenue of $850 million, median headcount of 1500 employees, and 35% being ASX listed, the studies provide a good quantity and quality of respondents. Each study focuses on a range of qualitative and quantitative factors, including metrics, process maturity and future improvement strategies, to allow companies to assess:

What does good look like?How am I performing against my peers?

What are the attributes of a high performing function?What is the optimal headcount for my team?

What should the cost of my function be?What are the key trends?

The quality and number of participants has ensured that the findings are a reliable reflection of what is currently happening across Australia, and provides clear insights and guidance for Finance process owners and business decision makers. More information can be found at:

www.australianbenchmarks.com www. .comSYDNEYLevel 12

309 Kent Street

Sydney NSW 2000

+61 2 8071 4155

MELBOURNELevel 8

350 Collins Street

Melbourne VIC 3000

+61 3 8676 0644

Building a high performing & partnering finance organisationoptim2 is a management consultancy that works with leading Australian companies to assess and improve their Finance organisation. optim2 has deep expertise in delivering strategic reviews of the Finance organisation, re-designing Finance processes, measuring the performance of Finance, and leading Finance transformation initiatives. In building a “High Performing and Partnering” Finance function, the three big questions clients consistently ask us are:

QUESTION optim2 capability

Do we have the right Finance operating model to best support the business? ASSESSING FINANCE

How do we design, build and implement high performing Finance processes? IMPROVING PROCESSES

What are the right measures for Finance, and how do we compare? MEASURING PERFORMANCE

Why optim2 provides the subject matter expertise to take your organisation to the next level. The optim2 difference is:

FOCUS “this is all we do”

We only consult on the Finance organisation, and will rapidly identify practical recommendations that succeed

EXPERIENCE “no junior consultants”

Our team has a minimum ten years experience, so you don’t pay for us to learn – we ask the right questions the first time

DETAIL “PowerPoint is not a deliverable”

Our deliverables are not “one size fits all solutions”, and we don’t consult by PowerPoint – clients deserve more detail

TRACK RECORD “our clients recommend us”

We have an enviable list of ASX, private, multinational and public sector clients – all our clients are references

BENCHMARKS “metrics from over 50 companies”

We sponsor the Australian Benchmark Initiative, the leading source of Finance benchmarks and better practice

FOLLOW THROUGH “we implement our recommendations”

We often lead the implementation of the recommendations that we make

ASSESSING FINANCE

IMPROVING PROCESSES

MEASURING PERFORMANCE