Industries

Helping clients meet their business challenges begins with an in-depth understanding of the industries in which they work. That’s why KPMG LLP established its industry-driven structure. In fact, KPMG LLP was the first of the Big Four firms to organize itself along the same industry lines as clients.

How We Work

We bring together passionate problem-solvers, innovative technologies, and full-service capabilities to create opportunity with every insight.

Learn more

Careers & Culture

What is culture? Culture is how we do things around here. It is the combination of a predominant mindset, actions (both big and small) that we all commit to every day, and the underlying processes, programs and systems supporting how work gets done.

Learn more

Verizon's finance group makes the right call

KPMG helped the company's CFO create an efficient organization capable of providing timely, accurate and meaningful business insights.

Client

Verizon

Sector

Telecommunications

Project

Organizational and finance transformation

Client challenge

Verizon is focused on keeping people, businesses, and things connected with each other, and the company’s chief financial officer (CFO) knew he needed to get his dispersed team focused on serving the business better. The group he led would play an important role in shaping the company’s future, so he set a goal of building a world-class organization that could deliver both strategic decisions to maximize shareholder value and efficient, effective, and customer-centric global services. And he wanted to do it all while developing future leadership that could readily navigate an ever changing telecommunications landscape.

The task was ambitious and the challenges were daunting. After years of mergers and acquisitions, the finance group’s thousands of employees were decentralized, worked out of several hundred locations, and used outdated legacy IT systems. But that wasn’t all: Challenges also included duplicate functions, conflicting sources of data, high operating costs, and an inability to adapt to the rapidly changing needs of the business. A study showed the organization was three to five years behind its corporate peers in the areas of people, processes, and technology.

Encouraging work was already under way. Some of the group’s functions were considered best-in-class. System updates and consolidations had begun, and key people were being trained in advanced analytical techniques.

But the road ahead was long. The CFO didn’t want merely to catch his corporate peers. He wanted to leapfrog them. To do that, the finance organization needed to consolidate into one efficient, integrated unit that could provide timely, accurate, meaningful information and insights to the business.

KPMG's transition approach ensured continuity in our finance operations while also delivering the quantifiable, sustainable results in the business case.

Tony Skiadas

Verizon’s Senior Vice President and Controller

Approach

KPMG worked closely with Verizon to design a new service delivery model, select future hub locations, identify and negotiate location incentives, plan and manage the transition of thousands of positions to the new delivery model, and develop a strategy for capturing and transferring valuable institutional knowledge.

Throughout the transformation, there was little distinction between Verizon and KPMG team members – the entire team benefitted greatly from the diversity of skills and talent and a collaborative mentality. It was a roll-up-your-sleeves team effort.

Benefits to client

Verizon’s finance organization today is approaching world-class and has put the resources, capabilities, and governance in place to deliver strategic value for the long term.

Its new service delivery model enabled the group to reduce its footprint by 60 percent, co-locate employees to create synergies and enhance career opportunities, improve the services it delivers to the business, and cut operational costs. Several thousand jobs were relocated without impact to ongoing business operations. The number of finance-related certifications held by employees has increased 70 percent – bringing more advanced finance and analytics skills to the business.

Specific accomplishments include:

1

Integrated, streamlined, and consolidated processes and systems.

2

Improved organizational alignment and resource optimization, and developed key finance talent.

    3

    Maintained strong controls and oversight.

    KPMG insights

    • Get commitment from the top

      Organizational transformations require a commitment from the top leaders. Lip service won’t cut it. Leaders must make their commitment so palpable that the organization understands and follows the vision.

    • Manage the velocity of change

      A critical element of planning a transition is controlling the speed of change. Set a cadence that generates momentum while maintaining operational stability and support for the transformation program team.

    • Govern effectively

      Use a robust program-governance structure to oversee the transition activities, which could include building new facilities, creating network and IT infrastructures, developing business-continuity plans, documenting processes, and recruiting and training new employees.

    • Communicate, communicate, communicate

      Use impact assessments, focus groups, and executive communication campaigns to prepare employees for change well before the transition occurs. Explain the process and what employees can expect. Be honest and transparent.

    Meet our team

    Image of Lance Morton
    Lance Morton
    Principal, Advisory, TD Technology, KPMG US

    Explore more

    Thank you!

    Thank you for contacting KPMG. We will respond to you as soon as possible.

    Contact KPMG

    Use this form to submit general inquiries to KPMG. We will respond to you as soon as possible.

    By submitting, you agree that KPMG LLP may process any personal information you provide pursuant to KPMG LLP's Privacy Statement.

    An error occurred. Please contact customer support.

    Job seekers

    Visit our careers section or search our jobs database.

    Submit RFP

    Use the RFP submission form to detail the services KPMG can help assist you with.

    Office locations

    International hotline

    You can confidentially report concerns to the KPMG International hotline

    Press contacts

    Do you need to speak with our Press Office? Here's how to get in touch.

    Headline