Getting Asian activities under financial control

CONTEXT

• The Client – a €800m business with more than 50 plants around the world – is a division of a large packaging group, which owns 2 production facilities in China and 1 in Indonesia. Such low-cost facilities constitute a strategic asset for the division
• While the new Chinese CEO is still in his induction phase and needs coaching, the overall financial processes are in a vacuum. The CFO is leaving and both the working capital and the reporting have to be put under tight control

OBJECTIVES

• To reduce our risk now: swiftly professionalize the Finance department and sanitize the overall governance, in order to (1) urgently secure alignment with corporate and (2) to prepare the ground for a permanent CFO

TASKS

• Realignment of the whole Finance department as well as reporting, with significant upgrade of the quality of the information transmitted to the corporate level
• Audit and reinforcement of teams on each site and within Regional Controlling
• Review / reengineering of the group’s key processes
• Formalization and weekly follow-up of Key Performance Indicators
• Coaching of the CEO and management of the Executive Committee

OUTCOME

• Step-function reinforcement of financial team performance, data quality & accuracy of reporting
• Successful hand-over of management to the new CEO , supported by a new CFO