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Finance transformation strategy
Finance transformation strategy helps CFOs identify the weaknesses in their finance organisation to prioritise the required change initiatives, and supports them in defining an operating model to support the business and manage key finance activities more efficiently.
As CFO, you may be facing one or more of the following situations
- Newly appointed CFO is confronted with the legacy of his predecessor, uncertain about the efficiency and reliability of the finance function and looking for assurance.
- Dissatisfaction from finance’s internal clients on quality of services provided by Finance: information quality, timely reporting, risk management, frequent financial restatements.
- Cost reduction in the finance function requires a clear view on finance’s priorities and on its efficiency compared to similar organizations through benchmarking.
- Major shift in business strategy or organizational structure, requires finance to re-organize its activities or re-think its added value for the business.
- Frequent financial restatements or evidence of other financial reporting issues, indicates lack of quality and reliability of the finance function.
- Upgrade or implementation of new financial systems, with significant impact on finance processes and required competencies of finance staff.
- Helping CFOs to identify the weaknesses in their finance organization, to prioritize required change efforts and support CFOs in defining the optimal operating model i.e. that can best increase its influence in the organization, support the business, and manage key finance activities more efficiently.
- Redefining the finance function processes and enablers and set priorities for improvement based on a structured analysis tool in a relatively short period of time.
- Building a roadmap on how to achieve the desired state