Issue: 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 president. 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 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 clients 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 and output. Our final step was to eliminate the redundancies and increase individual productivity. Once the work was identified and we were able to establish a more efficient way to utilize the time and efforts of employees, we shifted the work to a lower cost service center.
Result: 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 also allowed each employee to produce valuable, measurable, and visible results for the firm.