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As any CFO who has undertaken finance transformation knows, it is difficult and time-consuming. It requires careful planning and resources, and can be costly, especially without proper planning. But finance transformation is also critical if finance is to keep up with the changing needs and strategies of the business. Deloitte helps finance leaders address the most critical priorities in enabling the finance function to support and create value for the business — from establishing finance as a trusted partner to the business to developing a high-performance operating model, improving core processes, and managing ongoing performance.
CXOS aren’t usually hired to maintain the status quo—they are often hired to improve the performance of a company, business unit, or functional area. This requires incoming executives to catalyze change in their organizations, often early in their transition. New executives may have to identify and start new change initiatives or get transformational projects that are recognized as off the rails back on track. They may have to reorganize their own group and upgrade talent, structure, systems, and processes. Successfully driving change can be both hard and risky for incoming executives.
Macroeconomic factors may be having major impact on cost improvement priorities and actions throughout Europe. To learn what European companies are doing to manage costs, Deloitte recently surveyed 349 CXOs, executives, and senior management from large and mid-size companies in nine European markets – the UK, France, Germany, Spain, Italy, Belgium, the Netherlands, Poland, and the Nordics – which together comprise 88% of the European Union (EU) economy based on gross domestic product (GDP).
Emerging business trends and forces are driving change within accounting and finance organizations. These changes are also enabling the controllership function to imagine a dramatically different future—a future in which “digital controllership” can harness innovation and technology to fundamentally transform its role, add greater value within the organization, and continue the evolution from the CPA behind the green visor to a financial-minded strategic business advisor.