Embedded within Central Services led by Anne-Cecile Roccon, the Finance and Finance Planning & Analysis (FP&A) has been in the core of our business for several years. Supporting the company’s growth, the department holds a pivotal role in managing the long-term plan, budgeting, procurement, settling creditors, tracking cash flow, planning, and analysing business trends.
Spotlight on 📣 the Finance and FP&A department, an energetic team of 18 people who is the common denominator by which most of the business performance is measure both internally and externally.
Numbers In motion: exploring the dynamic teams and functions of the Finance department
- The Accounts Receivable (AR) teamLead by Chris Wilson
The core mission of the Accounts Receivable team is to manage and streamline the company's incoming revenue. The team ensures timely and accurate collections working closely with the Credit team, tracking payments, processing banner and security deposit refunds.
Did you know? Last year alone the team had to deal with over £7 billion in cash receipts! - The Accounts Payable (AP) team led by Sharleen Parrott
The primary mission of the Accounts Payable team is to oversee the company's outgoing payments. This includes processing invoices & expenses, managing various stakeholders’ relationships and ensuring that payments are made in a timely manner. AP contributes to maintaining positive relationships with the wider business while effectively managing the company's financial obligations.
Quick fact: Each year the Accounts Payable team processes more than 30 000 invoices. - Marc Carey is the Procurement manager of the team. His role consists in delivering and maintaining the successful commercial methods, processes, and operational procedures to ensure contracts are managed in line with internal and external compliance standards, (e.g. ISO and GDPR and other applicable laws).
- The Financial Reporting team led by Ambrose Wong
The central function of the Financial Reporting team is to provide accurate and timely financial information to both internal and external stakeholders. This involves preparing financial information, ensuring compliance with accounting standards, and facilitating various audits. - The Financial Planning & Analysis (FP&A) team Led by Phil Ransley
FP&A team supports strategic decision-making by providing comprehensive financial analysis and forecasting. This includes budgeting, variance analysis, and scenario planning to guide the company's financial planning process. The FP&A team helps Senior management understand current financial performance and make informed decisions to achieve future business goals. - Finally, as the Treasury & Banking System Manager, James Mari oversees TGP UK daily cash position and report it to our UK finance colleagues in Aberdeen, ensuring that any potential funding requirements are identified. James also manages the card payment system and banking direct debit software, ensuring that there is no break in our ability to process customer direct debit banking files into the banking system.
Say hello to Finance 👋 from left to right:
Navroop Sahota (FR) , Ekaterina Nedelcheva (FR), Daryl Watts (FP&A), Phil Ransley (HO FP&A), Ambrose Wong (FR), Sharleen Parrot (AP) , Marc Carey (PM), Anne-Cecile Roccon ( Director Central Services), Olivia Knox (AR), Demetris Photiou (AR), Chris Wilson (AR), James Mari (TBSM) , Harry Bishton (AR), Harry William (HOF)
Financial Horizons: projects panorama for the year ahead - The Energy Bills Discount Scheme (EBDS), which was introduced by the government to support non-domestic customers, is coming to an end in March 2024. The Department for Energy Security and Net Zero has set an objective for all energy suppliers to provide assurance on the operation of the scheme. Deloitte LLP has been appointed by the government to conduct an audit of our EBDS processes and they are working closely with Finance and the wider business to complete the audit.
- Marc Carey is starting a contracts committee to better review and approve contracts at the business level and will be working closely with the wider business to define our key suppliers and their relevant KPI's. He is working with Group and Compliance locally to implement a new due diligence system called Sequana.
- Ernst & Young has kickstarted the financial audit for year end 2023 working closely with Financial Reporting. . In the spring, we will be embarking on an Anti-Corruption audit with KPMG, The Anti-Corruption Audit aims to provide an accurate and intuitive understanding of a company’s culture, policies, and procedures by demonstrating that internal controls are operating effectively, with risk mitigation control and in compliance with relevant laws.
- The Accounts Receivable team has been working towards automation and efficiency by automating processes. In the past year, they have introduced Power Automate to download all remittances electronically, which has improved the cash allocation process and saved paper. In 2024, they plan to explore the possibilities of automating the Bankline process and credit adjustments. This will reduce the amount of manual effort required and minimise human error.
- When new starters join or colleagues change jobs internally, it can be challenging to ensure that they have the correct systems and credentials. It’s important to maintain consistency in access to services with job roles and align them with the whole team. William Humphries is leading the Access Controls pilot, which is expanding to include other teams in Central Services (including Legal). A Network Drives review at the individual level is currently underway for Finance, which will then be rolled out to priority business areas where there is financial risk.