Helping clients to develop a vision and strategy for Finance
Finance Strategy is an approach for the planned development of the Finance function based on a clearly defined vision, strategy and roadmap. It helps to build on insights from business context, stakeholder expectations and own performance & capabilities to focus on opportunities that create value.
Today’s CFOs need to transform their Finance function strategically. Top CFOs are re-calibrating control and are focusing on opportunities that create value. Reducing their reporting relationships, investing in operations and pushing Finance professionals closer to business decision-makers, CFOs are strategically transforming the Finance function.
How Deloitte can help you
Deloitte developed a robust, data-driven approach for conducting Finance Strategy engagements with a set of clearly defined objectives, activities and outcomes that takes you from strategic alignment, development of a clear Finance vision and a defined set of actions to achieve the vision. The approach consists of different modules.
- What are our goals & aspirations?
Module 1: Understand goals and aspirations of Finance
Module 2: Understand strategic context
- Where do we play?
Module 3: Assess performance and capabilities
Module 4: Understand stakeholder expectations
- How will we win?
Module 5: Define the Finance vision and strategic objectives
- How will we configure?
Module 6: Define Finance operating model
Module 7: Identify & prioritize change initiatives
- How will we implement?
Module 8: Develop roadmap and high level business case
Module 9: Mobilize for implementation
The methodology is flexible and can be customized to your situation. Modules may be expanded, contracted, eliminated or sequenced differently based on your needs.
What results can you expect
There are a number of benefits a Finance Strategy Assessment can bring to a company. Whether they impact your organization (both Finance and/or enterprise), policies & processes or the underlying technology, a Finance strategy assessment helps to pave the road for a sustainable Finance transformation. Below is a list of potential benefits:
- Defining a clear picture of where Finance wants to go
- Clarifying the change initiatives that needs to be implemented to get there
- Developing an actionable Finance transformation road map that prioritizes and plan the change initiatives
- Less dependency on individuals, increased job satisfaction and higher morale as well as better opportunities for retaining, developing and attracting the right people
- An easy way to understand and communicate where the Finance function is heading
- A balanced focus on control, efficiency, performance and execution
- Build on insights from business context, stakeholders expectations and own performance and capabilities
- A realistic view on where to invest to improve Finance – and where not to…
- Set target performance levels that are ambitious, yet realistic in the given time horizon
- It integrates worldwide best practices
- Pushing Finance people closer and closer to business decision-makers
- To align and resource the Finance function to serve the needs of the business better
- Focus on opportunities to create value
Would you like to have more information about the Finance Lab? Please contact Joris Zeijlemaker via +31 (0)88 288 4572.