Set up and management of the Finance and Accounting function post a divestiture

Our client wanted to set up and manage a Shared Services center for the its Finance and Accounting function, post a divestiture. The client was under a Transition Service Agreement (TSA) with its parent company and was in the process of setting up the business as a standalone entity. The scope of the project included supporting the transition into an independent function, to ensure business continuity, redesigning and optimizing processes along with the main set up and management of its Shared Services center.

Our services helped the client maintain business continuity through the divestiture, across geographies. We completed the set up and go live of the Shared Services center within six months and enabled an early exit from the TSA , resulting in significant cost savings for the function

The project had crucial implications including a reduction in costs per transaction by approximately 50% over a period of 3 years. We managed to reduce open items by ~80% through reconciliations and cleaning up of legacy accounts. The new processes set up by the Nexdigm team were capable of handling ~60% additional volume with a minimal increase in headcount. The client appreciated our services and requested continued support on every transformation project undertaken after the divestiture.