Celanese

Problem statement:

Celanese’s SG&A (Selling, General & Administrative Expenses) was relatively high compared to competitors. The company had operations all over the world and each of its facilities had its own finance & accounting function. When it comes to month-end close and reporting, it was taking a long time (15 days) and this was a problem because extended delays can cause the stock price to be hit.

About Celanese: Celanese is a technology and specialty materials/chemical company based in Irving, Texas. 

Solution:  I designed a Shared Services Solution to create two SSC locations for them – 1 in Dallas (at HQ) and 1 in Budapest, Hungary and transitioned all finance & accounting processes back to either one of those two locations.   

Benefits: Company saved approximately 45% of its staffing cost as it relates to finance & accounting.  Also, the close cycle went from 15 days down to approximately 5 days.  Other improvement plans were underway to further reduce the closing cycle down to 3 days, but they are implemented after my role on the project was completed.