Case Study
Creating a GCC for a Hong-Kong-headquartered trading and manufacturing conglomerate
On-site knowledge transition | A dedicated Finance & Accounting team established | A customised MIS with clear metrics
Business Need
- A leading diversified trading and manufacturing group was facing challenges related to its fragmented finance and accounting processes.
- The client was struggling to maintain control over its payments and receivables recovery processes.
- It wanted to rationalise its finance processes and develop an MIS reporting system. The goal was to improve operational efficiency and reduce associated costs.
The client wanted to rationalise its finance processes and develop an MIS reporting system to improve operational efficiency and reduce associated costs.
The client outlined three key reasons for selecting RocSearch:
- Our finance and accounting expertise and ability to create dedicated teams for clients.
- Our extensive experience in building GCCs from scratch.
Approach and Methodology
- A team of Finance & Accounting specialists from RocSearch worked on-site with the client for two months to thoroughly understand the Finance and Accounting processes across its various locations.
After the knowledge transition, we established a dedicated Finance & Accounting team to manage the client's processes.
- Dedicated resources took over process management, creating an efficient back office for the client.
- Based on detailed analysis, we created logical workflows to evaluate and streamline various process flows. We standardised and consolidated processes, led the transition to an Enterprise-Resource-Planning-based system and implemented rigorous controls.
- After benchmarking existing processes against industry best practices, we developed a process to address data management issues
- We built a customised MIS with clear metrics for improved decision-making.
Business Outcomes
- Centralised control of payables and receivables, reducing processing time by 75% through automation and streamlined workflows.
- Empowered management with data-driven insights, enabling strategic decision-making and robust improvement measures.
- Improved cash flow management, standardised operations across locations and implementation of transparent reporting for better financial oversight.
Empowered management with data-driven insights, enabling strategic decision-making and robust improvement measures.