Is your Finance function faced with a change?
In Transformation Services, we drive and embed organisational changes and process optimisations, making the financial work processes in major Danish and international companies more efficient.
We assume the roles of consultants and project managers as well as executing experts. This means that we help design and implement 'state of the art' Finance functions that realize the ambitions and future needs of the individual business. In close collaboration with the individual customer and by means of our framework tool - the Basico Change Model - we carry out analyses to identify the specific ambitions and needs. This analytical process results in a financial roadmap illustrating which activities, process optimisations, and effectivisations are to help bring the strategic goal from vision to reality.
More specifically, we can assist you with …
- Financial strategies
- Optimisations affecting the company's ’finance operating model’
- Acquisitions and divestments.
This means that we can help you if your business is faced with …
- Implementation of a new ’finance operating model’
- Development of a financial strategy and design of a financial roadmap
- Effectivisation and automation of processes, such as month-end closing, planning and reporting
- Transformation in connection with M&A
- An IPO readiness project
- Roll-out of a Finance business partner structure.
Get an iterative and learning process with Basico's Change Model
On the basis of our own experience with change projects, we have created Basico's Change Model, which is a project model that helps the individual business implement Finance strategical changes in an efficient way ensuring organisational embeddedness.
More specifically, Basico's Change Model establishes the basis and frame for the discussions and analyses that will, most likely, result in a Finance strategic roadmap aimed at the company's CFO area.
First and foremost, the model secures the right basis, already in the early phase, through a thorough analysis, understanding, and acceptance of the problems as such and the underlaying reasons.
If the basis is not in place, it may - apart from inefficiency - result in solutions that address symptoms rather than the basic reasons, motives, and ambitions for the change project.
In addition, the model places the involved company employees at the centre and our consultants in a facilitating, sparring, and hands-on role. Thus, we bring the changes and the financial deliverables across the finish line together with the key employees having the internal ownership. And, in this way, we ensure together that the change is implemented and brings about the desired business results.
In brief, Basico's Change Model has three characteristics giving you a successful change project.
Basico Change Model
1: You get a dynamic process:
The model is flexible and scalable. Therefore, we can - in collaboration with your business - adjust it as regards scope, duration, and execution.
More specifically, this means that focus is on the context and needs of your business. The sequence with four phases is given, but we will not prepare a detailed project plan right from the start.
The individual phase is not planned in detail until the previous phase has been completed, since the insight and learning gained from the previous phase help define the content, structure, and format of the next phases.
The phases are iterative so that you get a dynamic process, taking into consideration the insight, learning, understanding, and progress of the project.
2: You get a strong ’Case for Change’:
The first phase is extremely important, since it helps secure a thorough understanding of the problems that you want to have solved in your company.
Therefore, the model's unambiguous focus is on the ambition of the change - why must these challenges be solved, and what is the purpose of the change?
We refer to this as establishing a ’Case for Change’.
3: The change will be embedded in your organisation:
The model helps ensure cooperation and employee involvement throughout the project period. Both by means of analyses of the challenges, the reasons for them, and the ambition, and by means of solution design, planning, prioritisation, and implementation, including embeddedness, adjustment, and learning.
So the solutions developed (processes, systems, behaviour, etc.) will be solidly embedded in the organisation.
The changes will be made tangible to you
One of the things that makes the Basico Change Model valued as a project model is the fact that it moves the change project from an ivory tower in the management to the specific working day in Finance.
Using Basico's Change Model, we design solutions in collaboration with the involved employees from your business by involving them in the process.
This means that we help your key employees act as 'experts' putting their knowledge into play. Thus, we ensure that the solutions implemented in your Finance function are successful.
Quite simply because your employees have provided input and have helped create the solutions, giving them a sense of having an impact on and ownership of the changes that will affect their daily work.
Therefore, the Finance strategical roadmaps that are the key deliverables of these projects are intended to be tangible, pragmatic, and forward-looking with specific initiatives and underlying activities. In this way, they can form the basis of ongoing discussions in the company's management group and illustrate all proposals for initiatives that are to function as financial levers for the defined focus areas in the change project.
Good examples of this are our work with, for example, Danica Pension and Topsoe, which are described in two cases on our professional blog.
Should you prefer to listen to the articles, both cases are available from our podcast, Insights Out.