Competence Centres
Some projects require very specific know-how. TriFinance has developed various competence centres that are at the disposal of our clients for complex matters in specific areas such as:
Controlling & Reporting
This competence centre guides financial departments in the efficient delivery of qualitative and effective information that is crucial is for the whole organisation. We achieve this by the application of such procedures as:
• Assisting with the implementation of business intelligence systems
• Analysing and optimising processes
• Optimising business intelligence processes and systems.
Internal Audit
Corporate governance legislation is getting stricter and the impact of inadequate internal controls, unidentified risks or material errors in financial statements is significant. In addition, responsibility of management to build an appropriate internal control framework and to assure the correct functioning of internal controls is rapidly increasing. Not only are large listed companies involved in corporate governance legislation. Medium-sized companies also need sound internal controls to increase confidence in financial reporting and to sustain growth.
Our competence centre can support you in:
• Assessing your level of internal controls
• Designing a control framework
• Tailoring the audit approach to your key business risks
• Executing internal audit missions either in the framework of your current audit infrastructure or independently
• Building your audit department by establishing an audit charter, audit policies and procedures, documentation schemes and reporting formats
• Improving cost efficiency and reducing the fees of external accountants.
Credit Control
Every finance department needs to keep credit under control. Reducing the risk of bad debts by preventive and reactive actions and protecting and optimising working capital through constant, systematic follow-up, while keeping customer satisfaction as high as possible.
Our Competence Centre can provide support on 2 levels:
Operational Consulting
• Root cause analysis & diagnostics:
o client discussions
o best practices checklist
o analysing business processes from order to cash
• Practical advice on how to improve
• Hands on approach to problem solving - not only for individual cases but also for recurring issues (avoidance of problems)
• Technical competence in accounts receivables, direct debits, complaint handling, database cleanup, balance sheet analysis
• Managing of outsourcing projects, system migration projects
Functional credit control services
• Sending dunning letters, making phone calls, follow-up on exceptions, initiating legal proceedings, master data cleansing, etc.
• KPIs
DSO
- Bad debt v. revenues
- Percentage of disputed invoices
- Complaint resolution time
- Percentage of cash unallocated
Talent Management
TriFinance is a people-oriented finance and control company. Our unique mix of strong financial competencies and HR management skills enables us to offer specific talent management support for the finance department, such as:
• Recruitment & Selection
• Individual & Team Coaching
• Assessment & development Centres
A unique aspect of the TriFinance approach is the cultural assessment method. This methodology gives us the opportunity to map the typical culture of the finance department. Based on this methodology we can make up a competency profile of the ideal candidate to fill in the vacant position.
In addition to the recruitment and selection procedure, we offer the possibility of carrying out a full assessment. An assessment centre - or development centre - consists of a standardised evaluation of behaviour and skills based on multiple inputs in line with a competency profile. We use several tools for this:
- VMG1, NMG1 and DIT5 are reasoning tests on verbal, numeric and abstract issues.
- The OPQ or Occupational Personal Questionnaire is a self assessment tool used to identify the personality of a candidate.
- MQ or Motivational Questionnaire detects the main motivational items of a candidate.
- The MBTI (Myers-Briggs Type Indicators) - a personality questionnaire designed to assist a person in identifying some significant personal preferences.
The observation of established and situational relevant behaviour gives a good indication of the current and the future performance-level of the candidate.
An assessment or development centre evaluates the technical and knowledge-driven competencies, the behavioural competencies and the match with the career expectations.