Finance Transformation

Reckitt Finance Transformation

Reckitt is a leading global consumer hygiene, health and nutrition company, producing brands loved and trusted by people worldwide. For a business generating more than 50 billion in revenue, it was going through a massive finance transformation project involving data across 85 countries, 200 brands, and 40,000 products.

Reckitt needed to implement a new system that could efficiently draw data from the supply chain and manufacturing for the finance teams to use for a range of reporting, analysis, and gross margin management. Enabling the senior leadership team to make rapid and accurate decisions.

  • There were complexities and inefficiencies in retrieving data from the supply chain and manufacturing systems. Data took too long to flow in and required a large amount of manual labour to complete reconciliations. The risk of errors was high, making it hard to make accurate decisions.

  • The project was on top of ‘business as usual’, and the deadlines were tight.

  • The data was complex – generated across 85 countries, 200 brands, and 40,000 products.

  • The project involved people across diverse countries, time zones, and cultures to ensure consistency to deliver the best outcome and keep the project on track.

Reckitt needed flexible experience within financial processes and data, combined with a track record of delivering large-scale, international digital change projects.

We assisted on the integrated reporting to improve gross margin variance analysis through systems integration. Due to the scale and complexity of the business, two steps were needed to get good quality data into the new system:

  • Step 1. Cleanse all their 40,000 product SKUs. Agreeing on a format to accurately categorise precisely each one in terms of brand, region and product. So, everyone would follow a consistent formula to clean the data.

  • Step 2. Check the data for the last three years – anything related to the p&l balance sheet, expenses, marketing expenses – alongside the current data to reconcile and quality check to ensure the accurate migration of data from the old to the new system.

  • Coordinate workshops, presentations, webinars and training sessions to teach every market how to consistently data cleanse. Bringing together people from the supply chain, finance and commercial teams in each country.

  • Build positive relationships and adapt to cultural sensitivities, customising communication to deliver in a neutral, clear and concise style, so everyone knew what was needed.

  • Apply a project management approach that sold the system’s benefits, so every employee understood their exact role and the project’s impact to deliver to challenging timelines.

  • Over nine months, we were able to support the client to go live with the new system.

  • Data for 40,000 SKUs were accurately categorised, cleansed and migrated.

  • Global functional teams across 85 countries were kept on track to deliver.

Service

Finance
Transformation

Team

Strategy, Leadership & Innovation

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