Mission
The Finance team is usually at the heart of every business and is critical for all the company's teams to achieve their missions. Without financial resources, management, and discipline, the company wouldn't exist! The Finance team makes sure that OpenClassrooms is a well-run, professional, and flourishing enterprise.
Roles
The different roles include:
Accountants: Accountants record every transaction in the company according to generally accepted accounting standards and principles. This allows them to measure and report on OC's economic performance to company stakeholders. They produce monthly and annual financial statements (profit & loss, balance sheet, and cash flow), which they share with management, investors, lenders, national authorities, and even some customers and suppliers. These financial statements are continually monitored for accuracy and then audited annually by external auditors EY (Ernst & Young). They also manage company bank accounts and ensure all employees and suppliers get paid!
Financial Analysts: The FP&A team uses accounting and operational data and tools to analyze and explain what has happened, what is happening, and what they think will happen next. They run the annual budget process and report on ongoing performance compared to budget and rolling forecasts. Using management accounting dimensions, they analyze trends and advise on improving the company's financial performance.
Billing & Cash Administrators: The Billing & Cash team ensures that bills are sent and invoices are paid! They have to understand complex contracts and either translate them into custom OpenClassrooms invoices or ensure that all of the customer dictated formats/processes are completed timely and accurately - no easy feat when dealing with large corporations and different government administrations! They interact directly with customers and sometimes have to mediate queries/disagreements. They track payments/settlements, report on the status of invoices vs. payments, and chase overdue accounts.
Meetings or Habits
The teams work closely with each other daily. There are weekly team meetings and fairly frequent CFO department meetings (at least one per month). All of the teams work remotely.
Collaboration With Other Teams
This team plays a key part in OpenClassrooms' transformation and international development ambitions.
They are a vital support team and work closely with all departments! 😃
