How to transform your finance function to manage change*
Today's CFOs are faced with a complex, constantly changing business environment in which their companies' aggressive growth strategies need to be supported by a flexible finance organization that delivers transparent, efficient, forward looking insight while at the same time manages risk and compliance, effectively leverages capital and maximizes liquidity.
Expected to be the CEO's business partner, you must adeptly perform eight different roles to meet today's market challenges
Pragmatic strategist: You need to provide input to the company's strategic direction by balancing growth and strategic initiatives with the organization's capital availability, capacity for change and ability to manage expansion
Business partner: You need to establish the structure and processes to deliver forward looking, on-point insights to the business for investment opportunities, business performance and return on capital
Financier: You need to design strategies and plans for leveraging the business' capital and assets including accessing securities and debt markets, licensing and factoring assets, and developing partnering ventures to spread risk and out-source non-core activities
Finance operator: You need to define the organization structure and support operations that perform transaction processing, accounting services, reporting and finance activities
Compliance steward: You need to act as the company's steward for regulatory compliance, internal control and adherence to accounting standards
As well as:
Run rate monitor: You need to continuously assess spending rates and cost structure and define the processes to manage spending and align run rates with business needs and market expectations
Talent manager: You need to outline the development programs and training plans for finance personnel including recruiting, training, career advancement and incentives
Financial envoy: You need to communicate the company's financial performance to investors and industry analysts
CFOs must be able to adeptly perform these roles with an agile finance organization that is equally as capable. We have designed our advisory services around the role and needs of today's CFOs. Our CFO advisory services focus on helping CFOs create, anticipate and manage change by finding the right balance between standardization and flexibility and building strategic and operational agility into their business foundations.
We can help you transform your finance function into an agile organization by:
Reducing functional and operational complexity within the finance function and creating standardized, streamlined processes that deliver efficient, high quality services to all stakeholders (customers, vendors, employees and internal customers)
Translating strategy into sustainable performance by separating management information from the monthly close process to provide accurate and timely business performance information for senior management, including budgets and forecasts based on critical performance measures
Creating improved treasury and working capital processes to optimize cash flow and maximize liquidity
Achieving more timely, accurate and transparent reporting through a smarter close
Aligning skills and competencies to the needs of the finance function and creating clarity around finance department roles and responsibilities
Creating a highly integrated, automated internal control environment that is linked to an efficient testing and compliance process
In addition to:
Consolidating the low value add processes of a decentralized finance function into a shared services or outsourced environment to reduce costs, increase quality and improve consistency and productivity
Enhancing finance function technology to create an integrated finance application platform that maximizes automation, enhances data quality and improves control at a reasonable cost
Analyzing reduction of SG&A costs and matching to value stream assessments
Understanding the impact of a possible IFRS conversion on your financial results, evaluating your IFRS conversion readiness and identifying required changes to processes, people and systems
Preparing for a timely, efficient SEC compliant IPO
Improving your tax function's operational performance
