With finance transformation, your stakeholders can get better strategic insights and achieve a higher standard of decision-making. But what does it take to unlock the full potential of your #finance function? Start by looking at these five key areas of change.

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HOW TO ADD VALUE TO THE FINANCE FUNCTION
FINANCE
TRANSFORMATION
WINNING

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Finance transformation redefines an organisation's finance
function by redistributing resources towards higher-value
activities such as strategy, planning, analysis, and decision
-making support.
A transformed finance function gives organisations greater
insights and more transparent data and reporting.
Stakeholders can achieve more with less resources,
respond faster and provide better insights to achieve a
higher standard of decision-making.

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To ensure a successful finance transformation,
organisations must thoroughly define the
overall strategy of their finance functions and its
role in supporting and driving business growth.
This can be achieved by looking at five key areas
of change:

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01.
Streamline processes and make them fit
for purpose. This ensures that workload
is reduced across all financial activities
without compromising productivity and
efficiency.
PROCESSES

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02.
REPORTING
Redistribute the time spent on closing accounts and
generating reports, towards work focused on analysis,
business performance and strategic planning.

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03.
Enable real-time information and data sharing
that is flexible and available to stakeholders
24/7. This can help enhance decision-making
processes at all levels.
ENGAGEMENT
MODELS

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04.
Enhance processes with digital solutions and automation.
These optimised processes will improve overall productivity,
time and reduce costs.
DIGITAL SOLUTIONS
AND AUTOMATION

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05.
Re-evaluate the operating model, roles and responsibilities
of the finance function and ensure that it is aligned to the
optimised ways of working. This includes staffing the
department with the right people and the right skillsets.
ORGANISATIONAL
STRUCTURE

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BY COMBINING BEST PRACTICES WITH OPTIMISED PROCESSES AND
BEST-FIT DIGITAL SOLUTIONS, ORGANISATIONS CAN DEVELOP
AND NURTURE FINANCE DEPARTMENTS THAT ARE AGILE,
COST-EFFECTIVE AND FORWARD-FACING.
THIS WILL POSITIVELY IMPACT A COMPANY’S BOTTOM LINE
THROUGH VALUABLE AND ACTIONABLE INSIGHTS THAT HELP
INFORM THE DECISION-MAKING PROCESS.
LEARNMOREINOURWHITEPAPER, WINNINGFINANCETRANSFORMATION:
HARNESSING THE FULL VALUE OF THE FINANCE FUNCTION.

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