How to become a successful data-driven Finance organization

A data-driven Finance function manages data as a strategic asset. It recognizes the full potential of the growing amount of data and is organized in such a way it can accommodate the usage of granular data. This is not only driven by technology, but rather a holistic view through various lenses is required:

Strategy & Organization: It requires a shared understanding of the value that is created by the organization and the why this can be monitored (KPIs) and managed

Process and Controls: It requires processes that enable the Finance organization to act as an orchestrator of enterprise data

Data & Technology: It requires the latest technologies to unlock new levels of business partnering

Governance: It requires clear (data) governance to be efficient and compliant in using data

People: It requires growth and attraction of the right capabilities within Finance, so called "purple people“

For each lens, we provide our view on leading practices for a successful Data-Driven Finance organization. All supported by real use cases to illustrate the solutions we have created together with our clients.

In the document, we introduce the concept of a data-driven Finance organization through the five lenses mentioned above and we highlight the importance in becoming a business sparring partner, providing data driven insights and facilitating decision-making.