Finance Transformation

Finance transformation is one of the terms that has already been driving finance departments for a couple of years. From redesigning the organizational structure (for example establishing shared service centers in nearshore or offshore regions) to optimizing process organizations and right through to major digitization projects, including the implementation of a new ERP system, the meaning of the term finance transformation is different for each company. However, it is always a change in an organization and its finance function processes, mostly driven by the implementation of new IT enablers or a major change in reporting requirements of a company.

1.0 / Challenges
2.0 / The Finatycs approach
3.0 / People – processes – technology
4.0 / Serviceportfolio
5.0 / IT-Enabler und Software
6.0 / Contact

1.0 / Challenges

Finatycs considers finance transformation to be an opportunity to improve things sustainably.

Finance transformation is very often a vision of new finance processes, which, however, can rarely be fully achieved. The expectations of finance transformation are usually much greater and more promising at the beginning - until companies encounter the struggle of implementation. While the major listed companies can afford to allocate resources and plan the transformation for a couple of years, most small and medium enterprises need to allocate resources to projects with a shorter payback/impact time.

2.0 / The Finatycs approach

Building iteratively

At Finatycs, we do not view finance transformation as a project with a kickoff and a final project report. We instead consider finance transformation to be much more of a process in which framework conditions are defined together with the customer and transferred into a tangible target operating model. In the next step, we derive the initiatives to be taken from this model and define work packages for the further course of the project. The big bang does not work, not even when implementing a new ERP. You need to get value back quickly while aiming for long-term results.

We know that every client has a different starting position. And while it may sound great that by using AI-driven RPA, finance teams will be able to deliver fast, real-time results of a high quality, the reality is that this would not be the right focus for most companies. Existing processes are often not sufficiently structured to ensure that a new, intelligent solution will run smoothly.

We recommend that our clients take one step at a time and focus on improvements with an immediate impact. The Pareto Principle also applies to finance transformation: minor changes can bring about maximum impact.


Tidying up to gain visibility


Defining the starting point


Rerouting the current processes

With minor changes, we can automate single steps of our processes without turning the processes completely upside down.

To ensure that companies remain agile during the process change, we automate and integrate one component after the other. End-to-end solutions can be tempting but require a longer waiting time for full adoption. In today's rapidly changing world, this is often too expensive for many companies.

3.0 / People – processes – technology

Whether for finance operations, reporting or planning, it is necessary to focus on all three puzzle pieces of finance functions.

At Finatycs, we always assume that our clients are professionals with a high degree of knowledge and expertise. What is missing to drive the change in their processes and IT is usually just one more pair of hands with experience to structure projects, as well as the right methods to lead the often difficult dialog between business, IT or finance departments.

We position ourselves as a negotiator and partner for the finance department of a company. Our aim is always to sustainably leverage potential for the optimization and automation of day-to-day business and closing processes.

4.0 / Our services

Product 1

Process enablement

Status Quo and Documentation of process- and organisational landscape

Process mining

Automations and RPA

Product 2

Technology enablement

Rapid assessment

Concept (Business & IT)

Implementation ERP and EPM

Product 3

Content enablement

Fast close

Financial statement closing cockpit

Multi-GAAP reporting

IFRS conversion

5.0 / IT-Enabler und Software

The selection of the right tool for data gathering and transformation is one of our success factors. The tools used ensure stability and trust, while software that is easy to handle provides a lot of transparency in the entire process, which is very much appreciated by our clients.

In our most recent projects, we used the following set of our tools:

IT-Enabler (Software)





6.0 / Success stories

Our success stories in
finance transformation

Thermondo IFRS
Isolite LucaNet/SAP
BBG Finance transformation
NorthernData SAP

6.0 / Contact

Service contact