Why do you need finance transformation?
It might not be in their job title, but among your organisation’s ranks are natural analysts and strategists. These are the people who understand the business better than anyone: its processes, markets and drivers of success.
It includes the finance team as well as decision makers in other departments; the people who know what great performance looks like, and how to achieve it. They need to be listened to if your organisation is going to make the right decisions.
But too often, the job of finance teams and reporting departments is much harder than it should be. They become bogged down in number crunching and routine reporting, leaving little time for strategy. The answers to critical questions are in the figures, but unlocking them takes too long.
How we can help your business
We specialise in helping organisations like yours transform their finance department into a strategic powerhouse. We give you the tools and know-how to automate key tasks, putting insights into the hands of the people who matter, and equipping you to make the right decisions, faster - and with confidence.
Finance transformation projects and solutions
With legacy software, the ability to ask “what if?” and get answers you can trust can be severely limited. Crises emerge with little or no warning. Trends can escalate and operational drivers can shift quickly.
If your modelling processes cannot keep up, it leaves you unable to plan and provide advice on the decisions that need to be made immediately.
We give you the toolkit to create and amend scenario models with ease. You can quickly and accurately adjust the variables and add new ones to measure the likely financial impact of alternative courses of action. The end result should be to speed up decision making and improve decision quality.
Budgeting, internal reporting and other routine processes take up valuable time, attention and employee involvement. The volume of these tasks increases as organisations scale up, causing finance department resources to become ever more stretched.
Automate the key processes such as reporting, budgeting and analytics can free up your resources, creating time for your people to focus on value-added tasks.
From new accounting standards through to data protection, finance teams often find themselves bearing the brunt of responsibility for regulatory adherence and compliance. As businesses grow across borders the complexity of these regulatory demands can increase.
Automated processes reduce the need for manual intervention, along with the scope for human error. Automated workflows can integrate specific procedures for approvals, enabling you to create a robust audit trail, with all approvals documented for regulatory purposes. With just a couple of clicks, you have the ability to tailor reports for a range of recipients, including regulators, shareholders, auditors, HMRC and Companies House. We can also equip you with solutions designed to help you meet specific compliance standards, such as IFRS 16.
Download your free Finance Transformation guide
Now is the time for organisations like yours to invest in and transform your finance team.
Discover the right combination of people, processes and data that need to work in harmony to deliver lasting financial transformation.
In theory, you may have the ability to analyse financial data already. But if those capabilities are based on legacy applications - especially Excel - you may find yourself unable to produce the timely, accurate insights your organisation requires.
Excel can be slow and error-prone. It is difficult to collaborate while retaining version control. You are also limited in your ability to create the type of dashboards that are directly relevant to the needs of individual users.
We can help you break free from the constraints of previous generations of analytics tools. You can build the type of workspace that lets a much wider range of users - not just power users - measure KPIs in real time, evaluate performance gaps and diagnose the root cause of problems.
Most organisations find themselves connecting with customers through an ever-widening list of channels. Supply chains are becoming more complex, too. Tracking all of this leads to a proliferation of data, especially if the business is scaling up its activities.
Other departments look to Finance for an overview of organisational performance. If the source data is siloed across disparate locations, it can be extremely difficult to give an up-to-date, reliable picture.
We can help you map and integrate your data, eliminating any gaps and ensuring integrity. With an integrated platform and a single, easy-to-use interface, you get a complete picture of your organisation’s financial performance.
The future of finance
Most finance departments already deal with a constant stream of data from multiple sources, and the volume of this data is increasing. Expectations can be high, with department heads and other stakeholders wanting clear direction on what your business should do next.
Too often, technological change is divorced from the real needs of the business. Meeting and managing those expectations demands more than a one-off investment in new technology: it requires clear direction.
For MHR Analytics, our approach starts with a thorough appraisal of your organisation: its processes, people and demands. We work out what needs to change and why, and equip you with precisely the tools you need to make it happen.
We also know that transformation is never going to happen unless you have your people on board. It’s why we offer a full range of change management and training services to ensure your transformation investment never goes to waste.