Finance transformation for productivity and insight
Global financial information and news publisher, Dow Jones, recognized it needed a step-change in its global finance function. Technology had moved on and if the company didn’t adapt its systems and processes, it would face growing inefficiencies and lowered productivity, which would ultimately impact market competitiveness and the bottom line.
Dow Jones chose Berkeley for our experience in finance transformation, programme delivery, and leadership of large-scale enterprise resource planning (ERP) implementations – expertise that would complement in-house capabilities. They also felt our unique Berkeley approach was a refreshing change from the larger consulting firms.
Our London team led the initial assessment and immediate follow-on activity, before the work moved to our New York office. From there, our US team led the program through mobilization, implementation, and post go-live support.
Berkeley’s initial engagement was to deliver a full Finance Transformation Assessment, evaluating the current state of the finance function and identifying what the future should look like. As part of this, we created the business case and roadmap for transforming the necessary systems and processes across the global finance function.
From assessment, we determined that a wholescale replacement of the existing finance ERP system was required, and there were also improvements to be made to the Dow Jones' processes and systems landscape. Berkeley partnered with them to mobilize and deliver a range of these projects in the first phase of the roadmap.
The Berkeley team really dug out what we needed. Their professionalism was top notch and it was evident that they had done this before. We were all comfortable and open in sharing with them, which made the whole process almost cathartic. We had a great working relationship and I get the sense they were invested and really in it with us. It was not a robotic motion nor just cranking through scripts – they really got it."
Senior Vice President, Global Finance Operations, Dow Jones
The largest initiative on the roadmap was the ERP replacement program. We managed the program from day one of initiation, very much as part of the Dow Jones team. We walked in their shoes and were committed to achieving the outcomes they wanted.
In partnership with Dow Jones, we shaped and scoped the program in mobilization, defining the requirements and an outline solution to support application and system integrator (SI) selection. We worked together to run a procurement process to assess and select the ERP that best fit Dow Jones' needs, before negotiating and contracting with the vendor.
We ran a further comprehensive procurement process to select an SI partner and created a robust, contractual framework to support successful delivery. Berkeley has a proven track record of working effectively with SI partners, ensuring that roles, responsibilities, timescales and budgets are aligned and that clients gains full value from their investment.
All of this was underpinned by a strong business case. The program could never have gotten off the ground if we didn’t successfully help the client team win senior internal buy-in and approval.
Berkeley provided both excellent technical skills and highly developed soft skills – a combination that truly sets them apart.”
Senior Vice President, Global Controller and Program Co-sponsor
After completing mobilization, Berkeley provided leadership and program management through all phases of implementation. We partnered with Dow Jones to overcome the inherent challenges that come with such a large-scale program, including integrating with multiple legacy systems and interfaces; cleansing and transforming data; and managing scope, budget and delivery schedule.
This required working closely together with both the client and the system integrator to build and lead the right team across several different business units and regions. Together, we had to manage significant change and engagement at scale, while recognizing that most of the organisation’s people still had to get on with their business-as-usual jobs.
Berkeley provided the right mix of technical expertise alongside senior leadership and engagement skills, which enabled us to speak the right ‘language’ to the technology, business and finance functions. We served as a leader, translator, and facilitator, knitting the client and SI teams together to work effectively and achieve the desired program outcomes.
It was an honor to work with the client team from start to finish on a once-in-a-generation transformation that enabled increased productivity, reduced operational risk and improved data quality and analytics."
Ben Wildman, Partner
This large-scale program included integrating multiple legacy systems and interfaces; cleansing and transforming data; and managing scope, budget and delivery
Project team members
Individual requirements met
Interface end points