Leveraging Outsourcing and Shared Services to Re-Define Finance at Sandvik
In this presentation from Shared Services and Outsourcing Week Australasia 2016, Jonathan Nichol, Sandvik Country Finance Manager (Australia) and GFSS Regional Service Delivery Manager APAC, Sandvik, explores Sandvik ANZ’s finance transformation, where the majority of transactional finance functions were outsourced to their business partner in India and how this changed the finance functions that remained in Australia, including:
- Outsourcing AP, AR and General Accounting transactional finance processes to India
- Implementing an effective formal change management program and gaining staff buy-in through leadership and communication
- Aligning the residual finance functions in ANZ into a shared service
- Realising the benefits of the transformation including reduced costs; increased focus on residual finance functions and business support; improved internal controls and standardisation
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