Due to increasing pressures across the asset management industry, Invesco's finance team has been required to up its game and make strategic decisions to support the business as a whole.
INVESCO'S TRANSFORMATION PROJECT
In an interview at FinNext 2018, Jordan Krugman, CTP, Head of Finance and Corporate Services, North America for Invesco and a member of AFP’s Board of Directors, discussed his organization's finance transformation project. Over the past two years, the entire finance department at Invesco has been hard at work, simplifying its processes to become more efficient and effective. Krugman and his team have been looking across all the functions within finance in an effort to understand the ways in which they can be simplified, what work makes sense to put into a shared services center (SSC), etc. “It’s been a great journey for us,” he said.
Of course, the business doesn’t stop, so Invesco’s finance team has a multitude of other responsibilities to look after, while undergoing this major transformation. “We liken it to changing the tires on a car while it’s moving,” Krugman said. “Whether it’s acquisitions that come up or other items, the business keeps going and we’ve got to not only continue to support our business-as-usual activities, but focus on changing our processes and our effectiveness. And so, juggling that and prioritizing it is probably the biggest challenge we have.”
Most of Invesco’s core finance groups have gone through this journey, including the FP&A function. Invesco intends to have its transformation project wrapped up in first quarter 2019. Once the initiative is complete, finance can transition into continuous improvement.
And don’t miss FinNext 2019, which takes place March 17-19 at the SLS Las Vegas. Learn more here.