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.
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.