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Building a Roadmap for High-Performance Financial Leadership:
                       Capability Maturity Model
           ...
“We’ve all seen too many
                           great start-ups fumble as
                                            ...
Expect an intensive program
                                                           to kick-start improvement
CMM for F...
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Capibility Maturity Model for Finance - OpenView Venture Partners

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The Capability Maturity Model for Finance is a comprehensive program that includes both immediate exercises and activities, and guidance for long-term success and continual improvement. Participating companies receive:

* An in-depth two-day workshop, under OpenView's guidance, that establishes the fundamentals of the program and serves as its launch point
* A 12 - 18 month development outline that sets objectives, prioritizes initiatives and guides progress
* Individualized check-ins and assessments to help CFOs overcome obstacles, monitor results and make adjustments, as needed

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Capibility Maturity Model for Finance - OpenView Venture Partners

  1. 1. Building a Roadmap for High-Performance Financial Leadership: Capability Maturity Model for Finance Workshop In the high-performing enterprise, A time for reflection that Finance must drive extraordinary leads to meaningful action. execution. With the CMM for Finance, OpenView As companies move from the start-up to Venture Partners integrates much of the best the expansion stage, financial leadership thinking regarding financial performance into may be the missing link for efficient growth. an actionable process appropriate, in scale No other role has as comprehensive a view and content, to expansion-stage enterprise. of the entire enterprise. Finance serves as Participating companies gain: the vital connection between daily operations and the ultimate results executives and A tool for organizing a step-by-step improvement shareholders want to see. process The problem? Too many high-potential Self-assessment analytics that establish a base- enterprises are hobbled by a financial line for future progress organization fixated on minimum require- ments for transactions, budgets and Techniques for aligning finance priorities with the reporting. The Capability Maturity Model company’s strategic objectives (CMM) for Finance guides CFOs and other leaders responsible for Finance in a rigorous, yet practical program for assessing current capabilities, identifying gaps, establishing priorities and, most importantly, aligning financial initiatives with their companies’ strategic interests.
  2. 2. “We’ve all seen too many great start-ups fumble as AtTask CFO accelerates they move into the expan- improvements through sion stage. Finance is at the heart of a successful transi- CMM for Finance tion. My colleagues and I have designed the CMM As a four-year veteran of Arthur Anderson, AtTask for Finance to give CFOs CFO, Mike Olson appreciates “the importance of and other financial leaders a chance to step back repeatable processes for error-free reporting and controls.” Since his Anderson stint, more stringent from the day-to-day to take a deep look at the big regulatory obligations, such as Sarbanes-Oxley, have picture: Where is the company now? Where does made financial accountability even more urgent. it need to go? What financial infrastructure and skills must be in place to fulfill enterprise strate- When he joined AtTask, Mike found a situation gies, now and two-to-five years from now? CMM common to many expansion-stage companies. “Our processes were all ad hoc,” he says. for Finance helps participants blaze a trail for “We needed to build a foundation of standard their companies’ futures.” procedures.” In October 2009, Mike participated Cynthia Mignogna, Financial Principal, in the CMM for Finance two-day workshop. OpenView Venture Partners “It helped me establish a baseline for improving processes and moving to the next level,” he explains. “The workshop exposed our deficiencies OpenView Partners provides a and identified target areas to prioritize. It has saved structure for performance us tremendous time in evaluation and assessment. The Capability Maturity Model for Finance is With CMM and OpenView’s a comprehensive program that includes both support, AtTask has been immediate exercises and activities, and guidance able to make tremendous for long-term success and continual improvement. improvements in a matter Participating companies receive: of months.” An in-depth two-day workshop, under OpenView’s guidance, that establishes the fundamentals of the program and serves as its launch point A 12–18 month development outline that sets objectives, prioritizes initiatives and guides progress Individualized check-ins and assessments to help CFOs over-come obstacles, monitor results and make adjustments, as needed.
  3. 3. Expect an intensive program to kick-start improvement CMM for Finance helps Central The initial two-day CMM for Finance workshop Desktop through growing pains includes presentations and hands-on exercises that help participants: With more than 2,600 CrEATE an overall plan for improving finance customers—and several Establish reference point of current state hundred thousand users— Identify gaps that need improvement on its collaborative workplace Prioritize actions platform, Central Desktop is Design roadmap for future efforts Set criteria for reviews and appraisals well on its way to growth. But, notes Steve Anderson, Director COnnECT financial capabilities to company strategy of Finance and Operations, Define priorities consistent with key strategic themes “our financial systems need Financial perspective to be prepared for two years, three years out. We’re Economic model perspective asking ourselves, ‘What do we need to do to be a Customer/market perspective $10, $20 or $30 million company?’” Company output experienced by market participants Internal methodologies and information capital OpenView’s CMM for Finance is helping Central People Desktop build a foundation for continued success. People and organizational methodologies “After the workshop,” Steve says, “we completed our first independent audit. Then we had a follow-up FulFIll a thorough self-assessment of current analysis with Cynthia Mignogna, the OpenView functional strengths and weaknesses Finance Principal, who walked us through a fifty-point Prioritize gaps between financial capabilities and strategy by diagnostics spreadsheet.” Working through the CMM Risk model, Steve has identified three important target Value-add issues for 2010: appropriate analytics, reliable metrics Cost and KPI dashboards. “Now that we’ve completed Effort our assessments, we know where the gaps are,” Alignment Steve says. “We’re ready to focus on this year’s Target key initiatives for each gap most critical issues, and match our efforts to key Identify initiatives departmental goals.” Time frame SMART goal Dependencies To learn more about the Capability Maturity Model for Finance—and how OpenView Venture Partners can accelerate your success—contact OpenView directly at (617) 478-7500 or email info@openviewpartners.com.

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