According to the 2014 KPMG Transformation Survey - Business Transformation: People. Process. Results transformation has become a necessity, with multiple transformation triggers – technology, regulation and globalisation – creating simultaneous pressures. Indeed 93% of survey respondents said they had recently completed, were in the middle of or were about to embark on a transformation.
However it’s not easy to execute well - our research has shown that typical factors behind failed Enterprise Resource Planning software enabled finance transformations include:
To seek to address these issues we used our extensive experience of leading successful transformation programmes to develop KPMG Powered Finance - our own ready-to-go cloud-based technology solution for Finance transformation. It aims to provide businesses with a clearly defined methodology and set of outcomes at a reduced cost, increasing the certainty of successful delivery, reducing risk and business disruption and creating the optimal finance platform for the future.
Powered Finance is a broad-ranging implementation approach that delivers a pre-built, next generation Finance function for clients, optimised for Oracle Cloud.
By combining KPMG’s leading practises across business case, implementation, finance, technology, tax, controls, audit and adoption, we can help you create a leading finance function. Using a flexible library of pre-configured Solution and Delivery assets as indicated below, which we validate with you, we can provide a clear framework to help you rapidly transform the value of finance for the business.
We provide broad-ranging business case support and material to plan and manage the implementation.
Features of the KPMG Powered Finance approach include:
KPMG clients and prospective clients see Powered Finance as a step change:
‘..not many of the topics of finance transformation have changed over the last 10 years - shared services, outsourcing, business partnering, etc. but everything has become much more commoditised. I genuinely think the way that KPMG has combined a cloud and subscription based finance solution with their off the shelf leading practice processes and know-how into a packaged delivery solution is a game changer’
To understand what Powered Finance means for your organisation please contact us at Powered@kpmg.co.uk and our Powered Finance Team will respond as soon as possible.