Johnson & Johnson Financial Solutions & Technology (FS&T) Project Management Office
As part of its US$1 billion Transformation Program, J&J set up a dedicated Finance, Solutions & Technology PMO to reimagine the role of Finance across its global operations (NA, EMEA, LATAM and ASPAC). The 70-strong PMO (including employees and consultants) has three key areas of focus. Firstly, addressing some of the foundational data and technology challenges to centralizing data. Secondly, harmonizing financial processes across the business. Thirdly, transforming the talent workforce: reskilling and upskilling J&J's 7,500 finance people to work in this new paradigm.
Three years in, the team has already transformed finance for the pharmaceutical sector, increasing the accuracy (now 99.87%), completeness and timeliness of the information with which it supports the business. As it continues to roll out across the vision and medical device sectors, it is helping J&J use financial data to become ever-more nimble and proactive. This Global Finance Transformation program is well on its way to achieve the benefits/savings and their benchmark targets to serve as the Finance function.