Innovation

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Modernizing finance in private companies

Preparing finance for disruption

At some point, every private company will face a disruptive event—a major acquisition or divestiture, the introduction of private equity or going public through an initial public offering. While some private companies may believe these events are unlikely, the truth is it's a question of when, not if, they will happen.

Based on a survey of Canadian CFOs and finance leaders the report examines the current roles of finance, and the capabilities both CEOs and CFOs expect their finance teams to have within the next few years. It also includes a discussion of the key steps private companies need to take to improve the efficiency of their current finance operations, provide information that is more meaningful to company owners, and how to strengthen the capabilities of the finance team.

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Where is finance today?

of finance teams struggle to keep up with their current workload

spend their time on reporting financial position and operations—more time than they spend on any other activity

believe their CEOs place a high priority on the finance team providing insights to senior management

Where would finance like to be?

say better aligned skills in the finance team are needed

feel that automating manual tasks would be effective in helping them achieve greater success

believe improved tools for forecasting, reporting and/or budgeting would be effective in helping them achieve greater success

All private companies can build finance’s capabilities by focusing on three key needs

Our SlideShare explores what those needs are, and how to assess your organization’s readiness for disruption.

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To stay ahead of the curve, and explore the trends affecting finance today. Finance trends: Modernizing finance in private companies also offers a framework to help CFOs evaluate their finance teams' current capabilities and identify the core competencies they will need to help their companies successfully manage a disruptive event.