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10
NEWS
June/July 2012 www.esb.ie/em
FINANCE TRANSFORMATION PROGRAMME (FiTP) – in focus
In 2010 a review of ESB’s finance function was completed as part of the Performance Improvement Programme. This review led to the establishment of the Finance Transformation Programme (FiTP) to identify improvements and cost savings for finance across the ESB Group.
THE PROGRAMME HAS now entered a critical stage in its Implementation Phase which has seen significant progress made in a number of key areas over the past few months.
Finance operations – a new model
As part of the Programme, a number of finance people and processes from certain business units are being centralised into the new Business Service Centre’s Finance Operations team.
Under the management of Shana Dillon, BSC Finance Operations will act as service delivery partner to Corporate Centre, BSC and Electric Ireland. They will also provide a number of previously centralised services including Invoice Processing and Payments to the entire ESB Group.
At the end of April, a significant milestone was achieved when the first major transfer of people and processes to the BSC was completed. Finance staff from Corporate Centre and Electric Ireland moved to 1D Head Office, where they joined their colleagues already in the BSC Finance Operations in Dublin and Waterford.
New finance processes – streamlined and standardised
Together with finance staff from across the businesses, the Programme has designed new finance processes which are more standardised and streamlined. Existing finance processes were reviewed for inefficiencies and a new set of simplified processes were designed for consistent application across Finance.
The sign off of the new finance processes at the end of May, marked the end of a long period of engagement with the business which began in April 2011 when the Programme first looked at their high level design.
“This is a very important step forward, enabling us to now develop the detailed procedures with the business which will be needed to implement the new processes during the remainder of 2012,” said Emer Walsh, Process Lead, FiTP.
To support the roll-out of the new processes and systems, FiTP’s Change & Communications team will be working closely with FiTP’s Process Leads to identify training needs and develop a training programme.
Performance management – a new integrated approach
The Programme is introducing a number of key changes in the area of planning, budgeting and forecasting, including top-down target setting and a top-down approach to planning, replacing detailed bottom-up budgeting. These changes will deliver significant benefits to the business, while greater efficiency will be achieved through process and governance standardisation.
“There are many more milestones to come for the remaining half of the year, including the deployment of new processes, technology, reporting and associated training, communications and human resources support.”
