How to improve business performance thanks to a holistic follow-up of the CFO
As corporations are exploring new ways of profitable growth in increasingly complex business environments, CFOs must reinvent their function and expand their scope of knowledge by using a three-dimensional framework of profitability assessment, ensuring that appropriate levels of performance measurement are available at corporate, product and client level.
In order to properly optimize corporate performance, today’s CFOs should ensure that the firm’s profitability effectively reflects the current and prospective performance at different levels of the organization. In doing so, CFOs should strengthen their in-depth view of their businesses and develop innovative reporting tools and analyses to support strategic decisions in complex and dynamic environments. The biggest challenge for CFOs is to go beyond the traditional costs and revenues approach, by developing a brand new threedimensional analytic approaches of their corporation focusing on understanding their clients and products while keeping track of the nature of their costs and their overall profitability.
This requires CFOs to develop more business-focused skills in many areas of their organization and acquire a strong knowledge in operational performance, sales management and product portfolio management. Eventually, by developing this insider view of each area of their corporation, CFOs will increase their ability to deliver business managers and boards with tailored analyses. This process will ultimately reinforce the ability of corporations to implement more targeted strategic decisions and boost short- and long-term profitability.
Inside magazine issue 9, June 2015
Inside is Deloitte’s quarterly magazine offering an exclusive insight into best practices, trends and opportunities faced by our clients across all industries.
Inside focuses on the main hot topics relevant for the market (Asset management, Banking, Insurance, Public sector, Healthcare, Private equity, Real estate, TMT, Manufacturing and consumer business, Transport and logistics).