Finance Transformation

Finance Transformation Services

The finance and accounting needs of a newly established business change as the business grows and matures. Like many other functions, the demands on finance operations evolve over time, and accordingly, so should the finance and accounting activities. We believe it is crucial for the finance and accounting function to adapt over time to accurately reflect company growth while minimizing major disruptions to operations. Continuous change is more efficient, less disruptive, and less costly than postponing necessary adjustments until significant transformations are required.

Finance transformation is essential for reevaluating and restructuring a company’s financial processes, systems, and strategies to enhance efficiency, accuracy, and overall effectiveness. Cuentas takes a holistic approach, combining financial expertise, technological solutions, and effective change management to transform the finance and accounting function to meet current needs, thus establishing a foundation for continued success.

Scope of Service

Process Optimization

Identify areas for improvement and streamline financial processes. For instance, cash application collection, automated reconciliations (e.g., bank and others), monthly reports and analytics, payables scheduling, etc..

Staff Assessment

Finance staffing assessments and function restructuring to ensure clients' staff possess the necessary skills to meet current and evolving business needs.

Strategic Planning

Update or build the strategic financial plan for the finance and accounting function.

Technology Integration

Implement or upgrade financial technologies to enhance automation and efficiency. This includes General Ledger implementations, upgrades, the extension of capabilities to additional activities and processes, and integrations.

Data Security

Work with key vendors to implement robust cybersecurity measures to protect sensitive financial information.

Our Guiding Principles & Customer-Centric Approach

We work with our clients to understand their current and evolving near- to medium-term needs in order to provide a tailored financial solution. The key steps in our process are:

Define Objectives

Determine and define the objectives of the scope of services required based on an initial assessment of the client’s business, objectives, and key areas of the finance function in need of transformation.

Customize Solution

Customize the engagement plan and provide the client with a Commercial Proposal, including the specific deliverables for each scope of services required (including the timeline).

Negotiation & Contracts

Complete negotiation and legal contracts for the work to be performed.

Onboarding & Implementation

Client onboarding and work commencement, including one-time, recurring, or ongoing activities.

Provide Deliverables

Provide agreed deliverables to the client.

Finance Transformation