Finance Function Transformation

Edify's view on the Myanmar market 

Myanmar today is a country undergoing rapid change, and there is a solid determination among its people and leaders to help the country establish an important place at the global political and economic table. Occupying a strategic position at the crossroads of India, China and Thailand the economic growth has remained above 5% for more than 25 years, supported by robust natural resources, steady Foreign Direct Investment (FDI), rising incomes and private consumption and rapid expansion of the industrial and services sectors.

Higher foreign investments and joint ventures between foreign business partners and their local counterparts has increased the pressure on the financial reporting environment, requiring it to align with the more complex international standards, and demanding a more holistic approach by Myanmar companies. Consequently, the roles and responsibilities of the Chief Financial Officer are facing a tremendous change. CFO’s will have to create an effective, efficient and agile finance function, through transformational finance agendas, and, more importantly, by making the finance function a ‘world class’ finance business partner.

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Edify Myanmar's Finance Function Transformation & CFO Advisory's Message 

"Edify Myanmar Consulting Management team is able to reach out and listen to our clients’ key concerns, quick wins and current mitigation gap through our Finance Function Transformation or CFO Advisory Services. We are supported by dedicated and experienced professionals locally and regionally." 

We have the flexibility to meet our client's individual specific short term projects, including, but not limited to;

1. Fast Close

2. Book Keeping and Training Services

3. Finance Health Check

4. Finance Enterprise Resource Planning (ERP) Selection and implementation

5. IPO Readiness

6. IPO Project Management

 

Problem Statement

 

Your businesses have expanded to a secure, mature, organisation, either with or without a CFO as leader in the Finance Department. Your aim is to create the finance function as a business partner to the operation for the CEO and Board of the Comapny.

We have identified the following pain points the managment wants to solve:

  • The reliability of financial data in management reports.

  • The need to improve procedures/SOP's for all finance processes.

  • The lack of a Finance Leader to offer advice and solid performance statistics. 

  • The need of a finance function structure and comprehensive finance KPI.

Our proposed scope of work

 

We will assist you in reviewing your current finance operations and develop recommendations to solve these pain points. Hence, our scope encompasses two options; CFO Advisory Services (retainer) or Finance Function Transformation. 

Our Understanding of Your Requirement

"Success in a Finance Function program will achieve better financial control over your operations and better accountability to your performance"

The benefits from a performing Finance Function is to accommodate better accountability, control and transactional efficiency. This will be reflected through:

Reporting:

• Timely Financial Statement

• Accurate financial data

• Able to pass the annual audit

Control:

• Processes are equipped with standard operating procedures which will eventually result in a more standardized and auditable processes

• Increased transparency 

• Improved monitoring of assets

• Transactional Efficiency

• More streamlined financial processes   

• Reduce cost and time in performing day-to-day operations

Myanmar Current Finance Function Snapshot

Edify will help to build a high performance finance function get in touch!

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