Johnson & Johnson's Finance Transformation Journey
Johnson & Johnson has been on a systematic, transformational journey to increase the efficiency and effectiveness of its core finance functions. The fundamental principal of the enterprise’s finance transformation program was to retain its highly value business partnering aspect of the function while delivering the service to the business in a more efficient and cost effective manner. In the presentation, I will review the “call to action” that energized the initial need to establish our finance shared services network. I will touch on the scope and scale of the original network. As a second step in the journey, I will describe how finance helped to drive the establishment of our “Back to Basics” business systems transformation program to further enable operational efficiency. Lastly, I will briefly touch upon Johnson & Johnson’s Enterprise Standards and Productivity Program which will further refine activity and service placement for Finance in the broader confines of an Enterprise Business Services structure.
Michael Polaha is Senior Finance Director at Johnson & Johnson responsible for driving efficient and effective processes and technologies in the Transact and Protect areas. Under Mr. Polaha’s leadership, the company realized significant cash flow benefits and savings, reductions in risk exposure, and transactional efficiencies in key process areas. Several of the initiatives he directed involved the deployment of a finance global template in Latin America and a global credit model, implementation of finance and accounting technologies, and the commissioning of a “One AP” ERP in support of a global procure to pay project. Mr. Polaha graduated from Lehigh University with a Bachelor of Science in Accounting and a Master of Business Administration in Accounting.