Why finance can’t afford to delay modernization
Finance needs to modernize—and the time is now. In our continuously changing world, organizations need finance teams to shift from generating data to producing insights and for CFOs to translate numbers into opportunities. To stay ahead of the curve, explore the trends impacting finance today.
Modernizing finance in private companies
Success in anticipating and managing a disruptive event will depend on the agility of your finance team
At some point, every private company will face a disruptive event—a major acquisition or divestiture, the introduction of private equity (or third parties, joint ventures, etc.), 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.
Disruptive events can cause significant transformations in both the finance team and the business. Private company finance leaders know their teams must acquire greater competencies as the business grows. Having a plan to modernize the finance function is important under normal growth cycles, but when disruption occurs, having a more mature finance team isn’t merely important—it's critical.
All private companies can build finance’s capabilities by focusing on three key needs.
The SlideShare explores what those needs are, and how to assess your organization’s readiness for disruption.
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Finance trends: Modernizing finance in private companies
Finance trends: Modernizing finance in private companies is based on a survey of Canadian CFOs and finance leaders conducted in the summer of 2016. 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. The report also includes a discussion of the key steps private organizations need to take to:
- Improve the efficiency of their current finance operations
- Provide more meaningful information to company owners about their finance operations
- Strengthen the capabilities of the finance team
The report 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.
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