Challenge
One of the world’s largest financial services companies needed to reconfigure the organizational structure of their business. Over the past decade, a significant number of the firm’s operating units began to hire accounting and finance professionals. These accountants and analysts operated outside of the corporate accounting and finance offices and reported directly to their respective business unit’s presidents. It became unclear how many of these accountants and analysts existed in the various business units; what type of work they were performing; and what the cost was to the company for employing these professionals.
Approach
Daley And Associates was engaged to oversee a multi-tiered project. It was our goal to create a more fluent corporate structure that would allow our Client to properly evaluate the productivity of employees and the costs and benefits associated with these professionals. Our first step was to identify these professionals and understand their daily, weekly, monthly quarterly, semi-annual, and annual tasks. The second step was to move the employees to a single service center to better understand their activities, output, and productivity. The third step was to eliminate the redundancies and increase individual productivity. Once the accountants and analysts were grouped together and “right-sized” to create maximum productivity, we shifted the work to a lower-cost service center offshore.
Results
The project ultimately created a more productive and transparent workplace for our client and their employees. This transformation allowed higher-quality data to be provided to the business unit presidents and allowed each employee to produce valuable, measurable, and visible results for the firm.
