The Barden Career Guide Blog Series...Organisational Structures
Last week we introduced the Barden Career Guide Blog Series…a collection of short and practical career guides for accounting and tax professionals, who are looking to take control of their career and professional future.
First up we had ‘The Three Pillars’. To follow on from this we’ll now take a look at Organisational Structures.
Common Organisational Structures
Often overlooked but tremendously important for your career as an accountant is the concept of organisational structure: where your team sits in the overall business.
This is where the CEO, CFO and the executive team sit within a large multinational company – the company headquarters. The role of the finance function is to consolidate global financial and management information, to harmonise the data on one platform and to analyse this data to enable strategic decision making. The end product forms the basis of key executive decisions and external reporting to shareholders (annual reports). CRH, Kerry Group, AIB and Musgrave are some companies with Group Functions in Ireland.
Strategic Business Units (SBUs)
This refers to a specific trading entity under a Group Function. Large companies can have many SBUs types (manufacturing sites to retail sites to sales offices to R&D sites). SBUs in Ireland typically have one of three functions, 1) Supply the domestic market (e.g. Three), 2) Supply an international market (e.g. Kelloggs Europe) or 3) Represent an R&D, Customer Service or another key function that is located here for a particular reason (e.g. Apple).
Finance Hubs (or Shared Service Centres)
Here, a company has brought into one site, finance roles that are replicated throughout the organisation. The end result is a finance team in one location that is responsible for a specific finance activity (AP or GL reporting for example) across multiple jurisdictions and often multiple entities within a given jurisdiction. Geographical coverage can vary but are typically bundled into EMEA, APac, Americas and ROW (rest of word). Some finance hubs of scale can even have global coverage while some might only cover EMEA or even a number of entities in EMEA. Pfizer GFS, Apple, FMC, BOI and Kerry (Naas) are some companies with Finance Hubs in Ireland.
Small and Medium Sized Enterprises (SMEs)
This company type is the most common and varied company type, ranging from small, family-owned companies to medium-sized, privately-owned and professionally run companies with multiple SBUs. Representing nearly 80% of trading entities in Ireland SMEs are a far the most prevalent organisational structure.
Curious about how you can accelerate your career planning? Get in touch with our expert accounting and tax recruitment team today at email@example.com who will gladly meet your for a coffee and chat, and who are ready with lots of CV, LinkedIn, interview and career advice, along with cutting edge market insights.
Barden Career Guide Blog Series
The Barden Career Guide Blog Series is a collection of short and practical career guides for accountancy and tax professionals. We developed these in partnership with Accountancy Ireland, specifically for accountants. They are designed to help you make more informed decisions about your career, and ultimately achieve your career goals!
Each week we’ll issue a new blog, introducing a different lens through which to assess both yourself and the market (internally or externally) in the context of your professional career.
At Barden we invest our resources to bring you the very best insights on all things to do with your professional future. Got a topic you would like us to research? Got an insight you would like us to share with our audience? Drop us a note to firstname.lastname@example.org and we will take it from there!