Rochelle’s Web Cast Takeaways

R2R Transformation:Aon’s Journey to a Utopian Close

Hi there! I’m Rochelle Hood,

your Community Manager for

These are my Key Takeaways from a

members-only web cast that took place on

9 November 2016

R2R Transformation: Aon’s Journey to a Utopian Close

Facilitators: Shiran Ranasinghe, Finance Director, EMEA Financial Shared Services Centre, Aon

Lloyd A Dunckley, Finance Director, Global Finance Centre Tools – Strategy & Deployment, Aon

Watch the full web cast and download the slides here!

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BackgroundAON’s Krakow Centre of Excellence set forth on a vision to assume more value-added Financial Planning and Analysis (FP&A), complex accounting and global tax and treasury responsibilities.

To support this vision, the team executed a project to optimise their close process and implement a solution to provide greater insights for decision-making.

BackgroundTheir objectives included increasing global visibility in compliance and risk reporting, streamlining processes and developing clearer ownership.

The team set out to design a reconciliation strategy to increase control, consistency and quality in their close process.

The following are a few highlights from Lloyd and Shiran’s insights and our group exchange.

1‘Ethics is our Oxygen’ – needed to implement a solution that empowered

strong controls and full transparency.

2Automation provides more

than just a discipline. It supports the ability to challenge status

quo. The level of visibility into the process allowed the team to question why certain activities occurred on Day

Three that didn’t have dependencies and could be executed on Day One.

3Open item tagging and

matching engine functionality was a key

enabler to streamlining the process.

4Real-time visibility into the pulse of the financial close and status of open actions

was a key benefit for managers and stakeholders.

5Internal auditors no longer need

to be on the ground in the countries were work is

performed. With all the data and supporting evidence stored in a single

tool, the audit process is centralised and automated, which also provides an

effective plan for Sarbanes-Oxley sections 302 & 404 compliance.

6Self-assessments are

completed in the QA module with pass/fail scoring and

storing of samples and outcomes which reduced

duplicate work and the number of self-assessment required.

7Controls became more

preventative and proactive – the true goal and measure of

sound compliance and risk reduction.

WANT TO LEARN MORE?

Check out the presentation slides and recorded version of the web cast for further details.

ONE LAST THING…

You’ll need your Shared Intelligence login details to watch the web cast.

Can’t find them? No problem. Email info@sharedintelligence.com

and we’ll be glad to assist you.