Why and How I built an FP&A Center of Excellence at Verizon - Ed Hyer
Paul Barnhurst
Helping FP&A Professionals provide value to their businesses | Founder of The FP&A Guy | Host of 3 popular Finance podcasts | Microsoft MVP
Show Notes
Ed Hyer, CPA , as VP FP&A at Verizon , built one of the most ambitious centers of excellence (COEs) undertaken in finance.
Put simply, a center of excellence centralizes similar types of work into a single entity. While relatively common for payroll functions or “back-end transactional work”, FP&A presented an altogether bigger challenge for the COE concept.
The creation of Verizon’s Center of Excellence at the $134 billion revenue 118,000 employee company counts as one of the most audacious challenges undertaken in FP&A–ultimately comprising 175 professionals, took more than a year to complete and fanning through 24 different waves of transformation to take effect. Though the impetus from the beginning was to prove the concept could work, Verizon's FP&A COE has now transformed the business in impactful and unexpected ways.
“I remember one case, where someone showed there were 16 different processes here. He said he could get it down to two, and I've just saved myself six hours on workday one. It didn't require any new tools or technology.
In this must-listen to episode Hyer reveals the secret of Verizon’s FP&A transformation:
In this episode:
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Transition & Change Management | FP&A Delivery | Decision Support | Business Partnering | Process Excellence
9 个月Paul, all your episodes are informative, interesting and educative. This session with Ed Hyer was particularly insightful as my experience has been in the same function and his views absolutely resonated.
Healthcare | Strategy | Finance | FP&A
11 个月Thank you Paul Barnhurst, The FPandA Guy, for having Ed Hyer, CPA as your podcast guest on the topic of FP&A as a Center of Excellence. A lot of valuable insight shared for everyone to up their game and strive for a higher level of service to our customers.