Canon Information Systems & Research Australia

2008 – 2009 | Finance Transformation

– CiSRA is a Canon Inc research center with  250 engineers completing imaging technology projects for Canon group companies.

CiSRA’s board required a review of month end reporting. This led to transformation of the finance function to enhance financial control and reporting.

Robust financial control was achieved by simple changes to finance processes & procedures and IProc online purchasing and software license management systems being implemented.

The finance team was mentored to work as partners to project managers, particularly communicating the importance of aligning project progress with revenue recognition.

By automating integration of Excel/TM1/Navision, the month end process was reduced to 2 days.

Reporting and forecasts were enhanced to accurately reflect progress and facilitate actionable insights.

The accounting function was moved from Navision/TM1 onto a shared services Oracle/TM1 system by developing a methodology for aligning a research company Chart of Accounts with a sales company CoA.

Cost savings were achieved by effective liaison with external advisors, including for transfer pricing management and R&D grants.

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