Finance transformation is often described as a technology journey. In reality, it is a much broader organisational change that touches operating models and people capabilities.
In this case study, we explore how Sulzer is redesigning its finance function through a multi-year transformation programme. The initiative includes the creation of regional centres of excellence, the redesign of controlling and accounting structures, and a fundamental shift in how finance supports the business.
The transformation is currently about 40% complete, offering a realistic view of what works, what doesn't, and what other CFOs should expect when undertaking similar programmes.
Key lessons from the current transformation discussed include
- Finance transformation quickly becomes organisational transformation: Changes to processes and systems inevitably require changes to roles, structures, and skills.
- Centralisation alone does not deliver efficiency: Without process standardisation, centres of excellence simply centralise inefficiency.
- Technology must come after process redesign: Automation is only effective once processes are aligned and standardised.