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| Meridian Offers Services Productivity Programs With Measurable Results |
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Produce Case 3. Improving Finance's Value Added
Our client is a $5-billion retailer that grew from one store to over 1,100 stores in nine years. More than 50% of this growth was driven by acquisitions.
Not surprisingly, this retailers' Finance organization was scrambling to cope with the demands of the business. The company's heady growth severely taxed the largely manual processes used by this Finance organization. In fact our initial service analysis showed that only 19% of the Finance organization's work was actually done for its internal customers. "Back Office" administration and time spent fixing errors and omissions consumed more than 80% of this organization's total efforts!
A team comprising client and Meridian personnel used our service analyses to re-tool this organization's structure and operations. Over 200 high priority improvements were implemented. This organization's finance expenses decreased by 4% within six weeks of the program's start. Sustained changes in work, policies, and procedures delivered an 18% reduction in total Finance expenses and allowed CFO personnel to significantly increase the time they spent actually serving customers.
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