Deloitte named a global leader in Finance Excellence Consulting by ALM
NEW YORK, NY, USA, 08 June 2017—Deloitte announced today that ALM Intelligence has named it as a global leader in Finance Excellence Consulting. In the report, entitled Finance Excellence Consulting 2016, ALM Intelligence notes, “although CFOs have been grappling with the finance excellence challenge for more than 20 years, often with the assistance of consultants, their efforts have too often concentrated on operational efficiency disconnected from strategy.”
Specifically, for Deloitte, ALM highlights, “Deloitte is armed with a dedicated finance analytics offering and takes the position that yesterday’s efficiency plays can form the foundation for today’s innovative capabilities. The firm is particularly adept at helping clients adapt technology and shared services and outsourcing into operating models that deliver the sort of planning and analysis critical for finance to fulfil its business partnering ambitions.”
The report lays out the opportunities and challenges for Finance Excellence consulting providers focusing on market trends, client spending forecasts, and the provider landscape. According to ALM, Finance Excellence Consulting “includes the following services: Finance function strategy, performance management, governance and control, and finance operational transformation services.”
- “Deloitte delivers finance excellence consulting through the Finance division of its Strategy & Operations practice, supplemented by contributions from its Finance Advisory, Technology, and Tax practices.”
- “Deloitte’s consulting approach starts from the premise that CFOs have significantly improved the efficiency of their operations and largely resolved challenges associated with their roles as financial stewards; opportunities for future development lie in creating a system that can further the CFO’s role as a business partner. To help clients realize these opportunities, Deloitte orients its consulting approach around three areas of need: capacity, capability, and collaboration. One approach the firm follows is to free up capacity for business partnering by building a strong finance function that gets the basics right and can support more strategic capabilities. But Deloitte believes the nature of the capabilities and collaboration mechanisms that CFOs need depends on their mission, which is, in turn, a function of the context in which they operate and the expectations of their respective CEO and board.”
- “Consistent with its broader approach to service operations, Deloitte asserts that freeing up capacity and building new capabilities can go hand in hand by adapting traditional shared services & outsourcing models to act as globally integrated incubators of new technologies and capabilities.”
- “The point for Deloitte is to get away from the prevailing view that focuses operations on transactional activities and instead design them to serve the business.”
- “An area of considerable focus for the firm is on helping clients rapidly pilot and deploy new technologies such as RPA and advanced analytics at the heart of client operating models to transform operations into a business partnering function. To deliver on this approach, Deloitte uses what it terms its “common storefront,” which organizes, harmonizes, and provides for ongoing improvement of its services across its member network. The goal is to create a community of practice across the network that coordinates insights and best practices at the intersections of functional, industry, and geographic practices.”
- “Deloitte organizes its finance excellence offerings around operational improvement of transactional activities and what it terms “business finance,” or performance management activities. To inform and enhance its service delivery, Deloitte runs its CFO program, which includes its CFO transition labs for helping new CFOs assess their context and chart a course for acquiring necessary capabilities and managing their stakeholder environment, a weeklong academy for prospective CFOs hosted at the Deloitte University facility, a CFO conference series, its quarterly CFO Insights and Signals survey publications, and a CFO Insight publication hosted by the Wall Street Journal.”
As used in this press release, “Deloitte” refers only to the Deloitte Touche Tohmatsu Limited member firms.
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