Analysis
Western Australian State Government Agency Amalgamations - Part 5
The role of finance in amalgamations
The role of finance in the public sector has been changing rapidly and with the recent Machinery of Government reform, there is a renewed emphasis on identifying and exploring finance streamlining opportunities.
There has also been a general trend in finance functions more broadly to reposition with a view to enhance the delivery of business partnering and business insight, while still fulfilling what is perceived as its traditional role; data management and transactional processing.
The establishing of finance functions as a key business enabler within the public sector will support the wider organisation and whole of government in delivering a number of key business outcomes, including:
- Improved service delivery
- Driving efficient use of public funds
- Unlocking organisational value
- Enhanced transparency to drive better decision making.
For State Government agencies established from 1 July 2017, the path to successful finance integration requires consideration of where finance is positioned today, the creation of a finance vision and transformation plan, a broad commitment to the finance vision and methodical execution of the transformation plan. The recognition and utilisation of key levers within the transition period will be a critical element to long term value creation.
Published: September 2018
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