McGraw Hill Financial is a high-growth, high-margin benchmarks, content and analytics company serving the capital and commodity markets. It is home to some of the most iconic brands in finance and business, including: Standard & Poor’s Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts, J.D. Power, and McGraw Hill Construction.
Chazey Partners was selected by McGraw Hill Finance to review their Global Disbursements operation following some significant organizational change that included an ERP implementation and the outsourcing and set up of a Finance Shared Services center. These changes had resulted in some significant operational challenges. The brief was to perform a health-check on the process, initiate some quick wins, provide visibility on the process performance to senior management and develop a longer term improvement plan.
The Chazey Partners approach included stakeholder interviews, process workshops, activity based analysis and a change readiness assessment to compare the existing operation against best practice. Following the review and consultation with central Finance, a number of quick wins were initiated including the use of relevant performance metrics, the establishment of better communication channels and the introduction of regional and global customer forum. The longer term improvement plan addressed more significant change aspects including the introduction of a new operating model that was aligned to the outsourcing approach, a smarter deployment of the technology platform and a process centric approach to manage the end to end Purchase to Pay process.