Corporate Finance
Professional Legal Services
Full Credential Description
KCOM, a regional communications and IT provider, faced the challenge of needing a quick and cost-effective transformation of its finance function to align with a new agile business strategy. The company sought to modernize its finance operations without incurring high capital investments, particularly in a new enterprise resource planning (ERP) system. The leadership recognized that the transformation needed to encompass not just technology upgrades but also process improvements and organizational changes within the finance team. To address these challenges, KCOM engaged EY to implement a managed approach that would facilitate an end-to-end transformation of its finance function. This innovative solution allowed KCOM to leverage EY's extensive industry insights and technological capabilities without the need for a costly ERP overhaul. The EY Managed team worked closely with KCOM's finance personnel to identify technology requirements and design a future-ready finance team structure. This collaborative effort was crucial in fostering a culture of continuous improvement within KCOM's finance department. The results of this transformation were significant. KCOM saved approximately £4 million in upfront capital expenditure by adopting the EY Managed solution. Additionally, the project led to an estimated total savings of around £1 million through reduced finance operating costs and lower technology expenses. The new system enabled KCOM's finance team to focus more on value-added tasks rather than routine reporting, enhancing their ability to support strategic decision-making. Month-end financial figures became available six days after the close, a marked improvement that allowed for quicker and more informed decision-making by management. Overall, the transformation not only improved financial reporting capabilities but also positioned KCOM for continued success in the competitive telecommunications sector.
Measurable Results
Successfully completed $4M transaction
Qualifications & Expertise
Leading international law firm with verified case studies