Finance Managed Services

A new way to deliver finance for mid size business

We understand the challenges being faced by finance functions today. With finance teams having to evolve quickly to respond to technology change, increasing regulation, skill shortages and resource constraints. The level of ongoing investment required to stay ahead is only going to increase - and this increase will be significant for many businesses.

Now there is a new option for CFOs to engage with a partner who has already sourced and built the technology, processes, the people and delivery model to deliver a robust finance function. A finance function that scales with business needs, meeting current needs and ready for future compliance and reporting requirements. This can be used as an interim or long term solution - and be readily handed back if required.

For mid size businesses our Finance Managed Service (FMS) enables you to focus on running and growing your business in a flexible way, and able to change rapidly as needed depending on your requirements. For larger businesses with inflexible ERP solutions, we can provide a full finance function for non standard or subscale business units so you can focus on your core business, whilst meeting control and compliance standards.

Improving your way of working

We aim to deliver the results that make the difference, keeping you in control and driving sustained outcomes.

Our FMS solution is ‘plug and play’ and has been designed to give our clients scalable capability that can be deployed and dialled up or down over time and offering a flexible alternative to expanding your in-house finance team, delivering finance at a variable cost.

We can offer a full or partially outsourced finance and accounting solution. FMS will give you access to:

Leading cloud based finance systems including Sage Intacct for mid sized businesses and a range of other systems for specific industries or business sizes.
Tried and tested connected processes, controls and methodologies.
Direct access to PwC's Global network of specialists.
Access to a breadth of our services across that can support your end to end finance and tax compliance needs.

PwC and Sage

Our collaboration with Sage for the UK mid-sized market empowers businesses by integrating our established FMS solutions with the robust capabilities of Sage Intacct. This strategic partnership is a key component of our expanding Managed Services portfolio, where we work closely with clients to manage their operations and business processes, helping them achieve their strategic goals.

With Sage Intacct, we offer a fully configured platform that allows for the rapid deployment of an FMS functioning as a comprehensive ‘one-stop shop’ for finance and compliance. Our services encompass the design, support, and complete provision of an end-to-end finance and tax function, including:

Technology provision, operational management, and support with the delivery of accounting and compliance solutions.
Management of finance and tax operations, focusing on:
- Financial controlling, including account reconciliations and management accounts.
- General Accounting.
- Non-BPO Operational Finance, such as Accounts Payable, Accounts Receivable, bank, and cash operations.
- Connected Tax Compliance, covering VAT, statutory accounts, and corporate tax.
- Payroll services.
- Preparation of management accounts and provision of insights.
- Global account coverage.

Organisations trust Sage's finance, HR, and payroll software to streamline work and financial flows. By digitising business processes and relationships with customers, suppliers, employees, banks, and governments, Sage’s digital network connects the dots for our clients, removing friction and delivering actionable insights. This integration of services ensures trust in your financial and management reporting by maintaining accuracy through connected services, robust processes, enhanced control measures, and digital audit trails. This leads to deeper insights from your data, all delivered by PwC.

Case study: Delivering Finance operations and accounting for a financial services group

Our client aimed to enhance the quality and control within their finance function. Within just three months, we had conducted a comprehensive mapping and improvement exercise, established an agreed scope, and transitioned to a 'co-source' model. In this model, we assumed responsibility for key components of their finance operations, seamlessly integrating with their team. Our involvement spanned Accounts Payable, Accounts Receivable, general accounting, bank reconciliations, statutory accounts, and tax compliance. Notable achievements from this collaboration included:

Implementation of process and productivity enhancements, such as a shortened close cycle, improved payables days, reduced reliance on manual spreadsheets, and standardised reporting.
Significant improvements in the quality and speed of financial outputs.
Robust support during the due diligence process associated with a business sale.

“…worked with us to meet our commitments and bring focus on the end game was a key turning point for me. Importantly we have PwC people onsite and engaging in positive working relationships and talking to their counterparts which is very important for this type of relationship. For me it's critical that I can sit down with [PwC] and share our finance strategy and cost targets and take their help in getting us there….”