Clear plan for cost reduction: ConQuaestor provides insight and strategy for global retailer's finance function.
Challenge: Reducing costs at times of uncertainty.
Solution: ConQuaestor uses quantitative and qualitative research to create a good substantiated plan for design of best practice financial function.
The challenge
The CFO of a large global retailer (40 billion in sales) needs more clarity into the current performance of his finance department and how they are performing relative to of similar organizations. With these insights, he can then develop the vision and strategy substantiate and arrive at a sound plan for the future.
At the time of uncertainty in revenue trends, the finance department of this global retailer faced with the task of reducing costs in the financial domain. Due to the unexpected crowds during and immediately after the corona pandemic is taking on many new employees, but the functions are poorly defined. As a result, the landscape of professionals within business operations diffuse, many employees may be new people hiring and it is unclear who exactly does what. The CFO wants more clarity and switches ConQuaestor in to make that happen.
Our approach
Our professionals use quantitative and qualitative research to find out how the finance department currently operates and how it does at other similar organizations, goes. We do this by:
- Establish a benchmark resulting in an objective outside-in view;
- Organize workshops ;
- Explore available information;
- Conduct in-depth interviews with employees to find out who does what;
- Collecting data
This will give us a good idea of how the organization is put together along the axes people, processes, data/IT and organization, and how it performs on these relative to comparable organizations.
The result
Then ConQuaestor's professionals bring that information together into a compact document. Our project group presents this to the CFO. We create a 'solutions roadmap' and clarify the need for change and how to achieve it. For these company was this commitment enough, they could work on this delivered Plan themselves of Approach and realized the organizational change on their own.
For the CFO who also wants to leave execution in the hands of ConQuaestor, we have interim professionals. Thanks to our expertise on all steps of the process, we can support. From creating a vision and strategy to implementing the substantiated plan, ConQuaestor is the designated partner.