Finance Management
A specific department within a national government experienced rapid growth, which led to its programme portfolio outgrowing the initial finance management tools and processes. This created an urgent need for enhanced governance, operational transparency, and scalable solutions to support automation and future expansion.
Solution Approach
To address these challenges, Interval implemented a dedicated Finance Management function for the department's International Project Delivery portfolio. A highly qualified Finance Manager, with ACCA and MSc Professional Accountancy credentials, was deployed to collaborate with PMO and procurement teams. This role encompassed operational services such as budget management, payroll, invoicing, purchase-to-pay, and IT finance support. Additionally, the Finance Manager worked closely with stakeholders across departments to develop a target operating model, improving governance, controls, and financial reporting standards. The tailored approach combined financial expertise and best practices to align strategies with the department's goals.
Key Achievements
Interval’s intervention resulted in significant operational improvements. From the outset, the Finance Manager ensured consistent delivery of services, processing over 150 invoices monthly and managing an annual spend of £9M. This operational support restored client confidence by ensuring project teams received timely funding and approvals. The introduction of a target operating model brought robust governance and monitoring systems, enabling transparency in financial activities. This was particularly critical as 40% of the department’s £9M spend required inter-departmental recharging. Furthermore, the portfolio experienced a 9% annual growth, with the finance function expanding its support to other departments, including managing an IT cyber portfolio valued at £1.4M.
Outcomes
Interval’s dedicated Finance Management solution transformed the department’s financial operations, delivering enhanced efficiency, transparency, and scalability. The improvements not only addressed the immediate challenges but also positioned our client for sustainable growth in its programme portfolio. Through this engagement, Interval played a key role in supporting the government’s strategic ambitions for financial excellence and innovation.