Financial Shared Services
Consists of a large number of different teams such as Business Accounting, GL Accounting, Procurement, Cash Management, Payroll and many others which manage four key financial processes: Order to Cash, Record to Report, Procure to Pay and Payroll. The teams are working closely together to maximize efficiency and have one mission: Reduce complexity in processes and systems, whilst increasing customer satisfaction.
Business Unit Finance
Works closely with many functions in the business as a Finance Business Partner. Controls costs and safeguards margin, while constructing forecasts and budgets. Moreover, it provides analysis and insight to the business to guide and support decision-making. TomTom Business finance is spread across five units:
Automotive: licenses maps, navigation software and services to automotive customers
Enterprise: licenses maps, navigation software and services to other innovative companies and application developers
Consumer: offers drivers directions, guidance and inspiration for their journeys on the road
Maps: shaping the future of mobility by creating highly accurate, real-time maps to the world's largest technology companies, car manufacturers, fleet management organizations, cities, and everyday drivers
Platform products: provide software and online services that are used by customers, both internal and external, as components of their location-based and navigation applications
Corporate Finance
Consists of various Finance specialist teams. Group Control manages the annual budget and long-term financial model processes and is responsible for the monthly financial management reporting. Investor Relations communicates with the financial markets, ensuring investors and analysts understand our company, strategy and financial results. Tax and Treasury manages the company’s tax position, aims at maximizing cash efficiency and manages financial risks. Corporate Accounting ensures compliance with the IFRS accounting standards and manages group consolidation, external reporting, and TomTom’s internal control framework.