The Art of Planning
In today’s turbulent business environment, companies need to redesign the planning process so it’s more relevant to the new challenges faced by the business.Read the Article
New demands and technologies push the finance organization into the spotlight.
Corporate Development & Finance
Frank Plaschke on Financial Management, Budgeting, & Reporting
The finance function has undergone a radical shift in the last decade. Investors are more demanding, pushing companies to maximize the value-creation potential of their investments. Inefficient capital allocation is becoming a competitive disadvantage. At the same time, big data, real-time data, and other technological advances are providing new tools for finance to track financial performance. They’re also raising the stakes for excellence in performance management.
In response to this new environment, the role of the CFO is changing. Many of today’s CFOs are more than just traditional bookkeepers; they’re strategic partners to the business and champions of shareholder value. These roles require the finance organization to develop more sophisticated metrics and models in order to track performance and manage risks. It’s not always easy to determine how far to move or how fast to change. What should be your approach to achieving finance function excellence? And what will it take to get from here to there?
The finance organization has a special role to play in delivering strong and sustainable value creation. It takes the lead in designing and managing many of the value-based processes necessary to implement a value creation strategy. How can you know if the finance function is truly best in class? Conduct a health check.