FINANCIAL PERFORMANCE IMPROVEMENT
We support CEO's, CFO's, Controller and Treasurers to optimise the structure of their Finance functions thus improving contribution to business. We structure our support to ensure that Finance addresses the challenges of achieving appropriate standards of control, efficient back office opportunities and support to the business through insight and challenge. Recently, the emphasis of Finance has been control and efficiency characterised by a heavy focus on compliance delivered through streamlined back office models. Now, the focus for many has turned to Insight. These three computing priorities will continue to be the challenge for the Finance Function.
- Maintaining compliance and control: Being accountable to the business and to the financial community, CFO's have put compliance and control to the top of their agenda. For many, responses have been tactical rather than strategic. More deeply embedded and sustainable solutions are now required. Flexibility to response to future regulatory change is also increasingly important.
- Driving efficiency: The pressure to release money, resources and capacity has never been greater. Gains may come from the elimination of redundant activities, consolidations of activities (for example, through shared services), standardisation and automation of processes. These steps have in some instances resulted in cost savings in excess of 50%.
- Providing insight and challenge: Insight takes different forms in different organisations. It involves delivery of an effective performance management framework, understanding the key business drivers and challenging and supporting business decisions around these drivers. Equipping Finance to deliver effective support on these aspects requires tools and capabilities which are often new to the function.
Balancing the tension of these demands means keeping an eye on the details, and envisages how to realise the vision.