Finance business partnering
Changing the focus
"94% of organisations want to increase the time spent on finance business partnering over the next three years."
Deloitte Australia 2013 Finance Business Partnering Survey
Expectations of the finance function in Australian organisations are changing. Not only have recent economic pressure resulted in the need for leaner and more responsive back office functions, but there is now a greater demand from organisations for Finance to drive performance.
This demand requires CFOs to focus attention towards finance business partnering – the role that finance undertakes to support business priorities by delivering insight and value in support of growth and future performance.
The opportunity to redefine and invest in finance business partnering has been enhanced by:
- The explosion in the quantity and variety of data available
- Commercial demands of new business models
- Digital disruption and the opportunities it presents.
Deloitte Australia's 2013 Finance Business Partnering Survey of CFOs from some of Australia's largest public and private organisations showed that organisations have already started to invest in improving business partnering capability.
"39% of Australia finance organisations are investing more than 30% of their time delivering finance business partnering activities."
The survey also revealed that CFOs encounter many barriers to making the transition from the back office to the front office and in most cases it is recognised that there is still room for improvement.
The Finance business partnering survey analysis also explores:
- Key priorities for CFOs looking to develop finance business partnering capabilities
- The behaviours and competencies of strong finance business partners
- How to create business value through business partnering
- The importance of systems support for partnering activities
- Practical approaches for improving finance business partnering outcomes in your organisation.
Finance and Performance management