The document discusses how the finance function needs to be reimagined and transformed to meet future business needs. Traditional finance is not well-equipped to provide strategic insights that leadership requires. The future of finance will see operational tasks moved to centralized shared services with standardized processes and mobile/cloud technologies. Analytics will be leveraged to provide data-driven insights. Specialized finance roles will be embedded in business units. Finance will need new skills in consulting, analytics, and business knowledge. CFOs must develop a vision and blueprint to evolve their finance team by rethinking processes, organization, talent, and technologies.
The Future of Finance Function 2016 survey sponsored by Aptitude Software.
An insight into the changing role of the CFO and what can be done to ease the transition.
Best in Class Finance Transformation - Best Practices for the Finance FunctionProformative, Inc.
The evolution of the CFO role from controlling and reporting to strategy and support for the exec team now includes responsibility to deliver value for key stakeholders, such as investors. Top finance organizations are capable in multiple components of enterprise performance management (EPM), including strategic planning, execution, cost visibility, driver behavior, forecasting, planning, predictive analytics, ERM, and process productivity improverment (lean and Six Sigma). This workshop covers effective EPM frameworks, optimal organizational structure, talent management, leveraging technology to improve processes, and best practices for process change.
Speaker:
Birgit Starmanns, Senior Director, Solution Marketing, SAP
Presentation delivered at CFO Dimensions 2013
Workshop
Genpact helps leaders of some of the largest enterprises
transform and run their processes and operations, including
the very complex and industry-specific. We help enterprises to be more competitive by becoming more intelligent: adaptive, innovative, globally effective and connected by enabling tighter management of costs, risks, regulations, and supporting growth.
Best Practices in Creating a Strategic Finance FunctionFindWhitePapers
Many CFOs and the finance organizations they lead have started to take on new strategic roles within the enterprise. Their goal is to enforce stricter control processes to ensure legal and regulatory compliance, offer strategic insights into the internal and external business environment, and connect the business strategy with daily operations through performance tracking.
Your Digital Finance Transformation JourneyWorkday, Inc.
When it comes to navigating digital transformation within finance, no two organizations or industries are alike.
View this slide deck to learn how Workday and Deloitte are partnering to provide customers across industries with a perfect path forward, and can help you set a clear strategy for your journey.
Best Practices in Financial Planning and Analysis | 2013 Business Analytics S...Cartegraph
Loras College is proud to present our annual Business Analytics Symposium on March 27, 2014 at the Grand River Center in Dubuque, IA. Industry experts will share their insights about the evolving field of business analytics opportunities. Learn about everything from best practices when analyzing data to the importance and benefits of building a culture of analytics within your organization.
To learn more, secure your seat or to take advantage of group discounts visit www.loras.edu/bigdata.
The Future of Finance Function 2016 survey sponsored by Aptitude Software.
An insight into the changing role of the CFO and what can be done to ease the transition.
Best in Class Finance Transformation - Best Practices for the Finance FunctionProformative, Inc.
The evolution of the CFO role from controlling and reporting to strategy and support for the exec team now includes responsibility to deliver value for key stakeholders, such as investors. Top finance organizations are capable in multiple components of enterprise performance management (EPM), including strategic planning, execution, cost visibility, driver behavior, forecasting, planning, predictive analytics, ERM, and process productivity improverment (lean and Six Sigma). This workshop covers effective EPM frameworks, optimal organizational structure, talent management, leveraging technology to improve processes, and best practices for process change.
Speaker:
Birgit Starmanns, Senior Director, Solution Marketing, SAP
Presentation delivered at CFO Dimensions 2013
Workshop
Genpact helps leaders of some of the largest enterprises
transform and run their processes and operations, including
the very complex and industry-specific. We help enterprises to be more competitive by becoming more intelligent: adaptive, innovative, globally effective and connected by enabling tighter management of costs, risks, regulations, and supporting growth.
Best Practices in Creating a Strategic Finance FunctionFindWhitePapers
Many CFOs and the finance organizations they lead have started to take on new strategic roles within the enterprise. Their goal is to enforce stricter control processes to ensure legal and regulatory compliance, offer strategic insights into the internal and external business environment, and connect the business strategy with daily operations through performance tracking.
Your Digital Finance Transformation JourneyWorkday, Inc.
When it comes to navigating digital transformation within finance, no two organizations or industries are alike.
View this slide deck to learn how Workday and Deloitte are partnering to provide customers across industries with a perfect path forward, and can help you set a clear strategy for your journey.
Best Practices in Financial Planning and Analysis | 2013 Business Analytics S...Cartegraph
Loras College is proud to present our annual Business Analytics Symposium on March 27, 2014 at the Grand River Center in Dubuque, IA. Industry experts will share their insights about the evolving field of business analytics opportunities. Learn about everything from best practices when analyzing data to the importance and benefits of building a culture of analytics within your organization.
To learn more, secure your seat or to take advantage of group discounts visit www.loras.edu/bigdata.
Proven Techniques for Optimizing Your Financial Planning & Analysis ProcessProformative, Inc.
In this session, you will learn best practices for optimizing the planning process including how to adopt a driver-based model, efficiently manage rolling forecasts, embrace “what if” scenario modeling and provide more meaningful reporting and analysis to impact decision making. You will gain insights from comprehensive industry research recently conducted with hundreds of financial professionals around the world in order to understand key industry trends and best practices that are working for leading edge organizations today. In addition to the research, subject matter experts will share numerous practical steps for improving performance management processes in your organization. You will come away with real-world methodologies to help you improve and shorten your budgeting process and will also enable better decision making and organizational alignment that will help you to optimize performance.
Speaker: Tony Ard, Director of Solutions Engineering, Axiom EPM
Presentation delivered at ProformaTECH 2014 - http://www.proformatech.com
Track: Operational Advantage | Session: 5
The Future of Financial Planning and AnalysisSAP Analytics
CFO Research conducted a global survey of 335 senior finance executives, Sponsored by SAP, and sought to gain a better understanding of how finance leaders aspire to support business decision-makers in the pursuit of value creation—and how leading-edge financial planning and business analysis capabilities factor into those aspirations. Here we present key findings from that survey.
Basics of cash management for financial management & reportingSoaga Hameed Gbola
This paper examines the basics of cash management for financial management and financial reporting purposes. This study makes use of descriptive research method to examine the importance, essence, influence, relationship, and impact of cash management on financial management and financial reporting. It establishes the strong impact of cash management on corporate survival, linkage to practically every account on financial report, maximisation of shareholders’ wealth, fraud prevention and detection, and liquidity enrichment. It also ascertains the need for the use of net cash flows as a measure of performance. Organisations should give cash management serious attention and make it a strategic partner, and should maintain a dedicated cash module for cash management because accrual accounting is not adequate for cash management. Regulatory bodies should enhance disclosure requirements in respect of cash and cash equivalents to enhance transparency and prevent creative cash management.
Finance Transformation - Best Practices for Accounting and Control - Hernan H...Hernan Huwyler, MBA CPA
How to develop efficient accounting and operational controls as part of a finance transformation initiative. Ideas to streamline the accounting function to improved levels of productivity and faster reporting.
Finance Vision 2020 presenation used for the launching of our book at the Finance Transformation Summit (organized by Alex van Groningen) on December 2, 2008
Are your measures strategic? Are you measuring the right things to make sure your organization is strategically successful? Top-down versus bottoms up tracking.
For full text article go to : https://www.educorporatebridge.com/financial-modeling/financial-modeling-technique/ This Financial Modeling Technique will help you to understand some important techniques like color coding, circular reference, compilation of historical data, things needs to be considered before making an assumption etc in order to make a financial model easy to understand.
Proven Techniques for Optimizing Your Financial Planning & Analysis ProcessProformative, Inc.
In this session, you will learn best practices for optimizing the planning process including how to adopt a driver-based model, efficiently manage rolling forecasts, embrace “what if” scenario modeling and provide more meaningful reporting and analysis to impact decision making. You will gain insights from comprehensive industry research recently conducted with hundreds of financial professionals around the world in order to understand key industry trends and best practices that are working for leading edge organizations today. In addition to the research, subject matter experts will share numerous practical steps for improving performance management processes in your organization. You will come away with real-world methodologies to help you improve and shorten your budgeting process and will also enable better decision making and organizational alignment that will help you to optimize performance.
Speaker: Tony Ard, Director of Solutions Engineering, Axiom EPM
Presentation delivered at ProformaTECH 2014 - http://www.proformatech.com
Track: Operational Advantage | Session: 5
The Future of Financial Planning and AnalysisSAP Analytics
CFO Research conducted a global survey of 335 senior finance executives, Sponsored by SAP, and sought to gain a better understanding of how finance leaders aspire to support business decision-makers in the pursuit of value creation—and how leading-edge financial planning and business analysis capabilities factor into those aspirations. Here we present key findings from that survey.
Basics of cash management for financial management & reportingSoaga Hameed Gbola
This paper examines the basics of cash management for financial management and financial reporting purposes. This study makes use of descriptive research method to examine the importance, essence, influence, relationship, and impact of cash management on financial management and financial reporting. It establishes the strong impact of cash management on corporate survival, linkage to practically every account on financial report, maximisation of shareholders’ wealth, fraud prevention and detection, and liquidity enrichment. It also ascertains the need for the use of net cash flows as a measure of performance. Organisations should give cash management serious attention and make it a strategic partner, and should maintain a dedicated cash module for cash management because accrual accounting is not adequate for cash management. Regulatory bodies should enhance disclosure requirements in respect of cash and cash equivalents to enhance transparency and prevent creative cash management.
Finance Transformation - Best Practices for Accounting and Control - Hernan H...Hernan Huwyler, MBA CPA
How to develop efficient accounting and operational controls as part of a finance transformation initiative. Ideas to streamline the accounting function to improved levels of productivity and faster reporting.
Finance Vision 2020 presenation used for the launching of our book at the Finance Transformation Summit (organized by Alex van Groningen) on December 2, 2008
Are your measures strategic? Are you measuring the right things to make sure your organization is strategically successful? Top-down versus bottoms up tracking.
For full text article go to : https://www.educorporatebridge.com/financial-modeling/financial-modeling-technique/ This Financial Modeling Technique will help you to understand some important techniques like color coding, circular reference, compilation of historical data, things needs to be considered before making an assumption etc in order to make a financial model easy to understand.
Capgemini's Finance Vision 2020 presentation of Klaasjan Doeswijk for the Good To Know More event organized by Randstad Search&Selection on June 26, 2009.
How Unilever transformed its finance structure, leading to involvement of CFO with CEO for major decision making processes of the company. Unilever being one of the biggest FMCG company needed the finance structure to be modified because of the globalization.
Finance trends Modernizing finance in private companiesDeloitte Canada
Finance trends: Modernizing finance in private companies is based on a survey of Canadian CFOs and finance leaders conducted in the summer of 2016. The report examines the current roles of finance, and the capabilities both CEOs and CFOs expect their finance teams to have within the next few years. The report also offers a framework to help CFOs evaluate their finance teams' current capabilities and identify the core competencies they will need to help their companies successfully manage a disruptive event.
The finance department is responsible for managing the company’s financial risks, financial planning and financial reporting. But is it in control? Does it have full control over your financial processes? Complete control over data feeds? Intelligent control on reporting?
Businesses need to ensure accurate and consistent financial close on time, every time. The best-in-class automation solution frees up time and resources to devote to more financial analysis, and reduces the overall stress on your finance department.
10 Best Practices of a Best Company to Work ForO.C. Tanner
What does it take to be named a Best Company to Work for by FORTUNE magazine? For starters, a winning culture, collaboration, and creating an environment for learning and growth. Take a look at these slides for more ideas!
The Transition of the Finance Function to Value Added Business Partners, Pern...Innovation Enterprise
In this presentation Pernilla Nyberg talks about Finance and draws comparisons throughout to the cycling career of Lance Armstrong in regards to challenges and being able to overcome them as well as importance of having a good team around you for prolonged success.
CFOs have stepped out from the confines of their role. Exploiting data and creating value, they can now serve as innovator and disruptor in their business.
Looking for Virtual CFO services who can implement best practices in your Organization that create long-term value for your Organization? Hola! You are at the right place; click more to know about the Virtual CFO services SBC offers.
To succeed in today’s volatile economy, financial leadership has become more significant than ever. Learn how leading CFOs accelerate strategic growth as well as ensure its alignment with the company’s business objectives.
Agile Leadership: Effectively Managing the New Role of the CFOProformative, Inc.
Video & Presentation: http://www.proformative.com/resources/video-presentation-agile-leadership-effectively-managing-new-role-cfo
Today, the CFO's role is more complex and challenging than ever, as he or she is expected to be involved in every aspect of the business, from providing strategic business advice and analysis to the CEO and executive team, to implementing high growth strategies while improving the company's productivity and efficiency. CFOs are also often tasked with implementing organizational controls for compliance, ensuring cost controls, and overseeing operations, IT, and core back-office functions. In this session, we will discuss how the CFO can effectively manage these diverse responsibilities by increasing real-time visibility into company performance across departments, making the business planning process transparent and improving core business processes across the organization.
Speaker:
Dan Miller, VP Finance & General Manager of the Software Vertical, NetSuite
Presentation delivered at CFO Dimensions 2013 - http://www.cfodimensions.com
Track: Leadership | Session: 4
“How to Prepare for Your Next Fund Raise” hosted by The CEO’s Right HandNY Tech Alliance
In this webinar, our panel of financial experts will be discussing how to prepare for your next capital raise and put your best foot forward, even in the current market conditions. The companies that are well-prepared will see significantly higher valuations as well as an increased probability of closing a deal as compared to those firms that don’t invest the time ahead of time.
More specifically, we’ll touch upon the following:
Putting in place the proper accounting infrastructure
Proper financial reporting
Monthly accounting cycle / book close process
Reviewing revenue and expense policies
Cleaning up your cap table
Necessary corporate / legal documentation
And more…
Range of Offshoring CFO Services from India to leverage accounting, finance & business skill with competitive cost to add significant tangible and intangible benefits.
In our last 10 years of our presence across sectors and geographies, We had done 150+ Mandates across varied business & finance challenges. This has resulted in measurable tangible and intangible benefits to businesses with orderly growth matrix.
Our experienced team of finance professionals spread across regions are competent to deliver solution in line with business requirement and management exepctation on financial health management.
Management Reporting and Innovation - IPA Conference 2015Chris Catto
Management Reporting that Drives Innovation and Entrepreneurship. IPA NSW Conference Presentation on how Management Reporting can be a catalyst for innovation.
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Les changements, souvent accélérés, que nous avons mis en lumière dans les prédictions des technologies, médias et télécommunications de 2019 sont nouveaux, importants et, de façon générale, ne font pas l’unanimité.
The changes—often rapid changes—we track in this year’s Technology, Media and Telecommunications Predictions report are new, important, and usually counter-consensus.
Tendances financières Moderniser la fonction finance dans les sociétés privéesDeloitte Canada
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Les véhicules à freinage automatique, l’apprentissage machine sur les appareils mobiles, la biométrie sur votre téléphone intelligent, et le système de navigation intérieure précis sur plusieurs mètres sont quelques-unes des innovations et perturbations qui transformeront le monde en 2017 et pour les années à venir.
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Looking for professional printing services in Jaipur? Navpack n Print offers high-quality and affordable stationery printing for all your business needs. Stand out with custom stationery designs and fast turnaround times. Contact us today for a quote!
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2. CFOs are under increasing pressure to provide
strategic insights that enable leadership and boards
to make better, more informed decisions.
But the traditional finance function
isn’t well-equipped to deliver this.
Companies need to rethink and reimagine their Finance
function if it’s to deliver what businesses need in the years to
come. What will the future of Finance look like?
RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
3. Many forces
have the
potential to
transform
Finance
Analytics
Other
forces
Talent
Cloud
computing
Mobile
Business
process
management
FINANCE
RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
4. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
How we see
the future
of Finance
How
Finance delivers
value
W
hat enables Finan
ce
FINANCE
STRATEGY
BUSINESS
FINANCE
ORGANIZATION
& PEOPLE
PROCESS &
POLICY
INFORMATION
& SYSTEMS
OPERATIONAL
FINANCE
SPECIALIZED
FINANCE
5. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
Rise of the
finance factory
• Transactional finances moved to
centralized shared services “factories”
• Cloud-based apps and mobile devices are used
to perform transactions, while highly
standardized, simplified, workflow-enabled
business processes handle the rest
OPERATIONAL FINANCE
6. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
OPERATIONAL FINANCE(cont'd)
• Continuous close process, thanks to visual close
management tools, integrated sub-ledgers, journal
workflows, reconciliation tools and automated
consolidation, FX, allocation and intercompany transfers
• Finance teams simulate pre-close results to support
continuous MD&A development
• Automated controls, intelligent process monitoring keep
watch over performance and minimize rework
7. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
Analytics drives better
insights, forecasts, decisions
• Investments in data governance, management and analytics
prove their value: Finance routinely delivers data-driven
insights that improve business decision-making
BUSINESS FINANCE
8. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
BUSINESS FINANCE(cont'd)
• Integrated planning models and
sophisticated analytics tools enable
rapid scenario planning, cost modelling,
risk simulation
• Finance can quickly model impact
of changes in key business inputs
(e.g., commodity prices, energy costs)
to determine business impact.
9. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
Firms invest in
building their own
technical experts
• Tax, risk, treasury and other specialized
finance processes housed in virtual centres
of excellence – though the specialists
themselves are embedded in the business
SPECIALIZED FINANCE
10. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
• Specialists’ performance measured by the value
they help the business create – or the risks they
help contain or avoid
• Companies invest in training and developing
their finance specialists, ensuring they have the
training, technical development and job
rotations needed to learn the business inside
and out.
SPECIALIZED FINANCE(cont'd)
11. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
SPECIALIZED FINANCE(cont'd)
“Czars” take
centre stage
As companies build up their specialized
finance resources, new roles emerge:
• The cash czar brings an unmatched understanding of
how cash flows into, through and out of the business.
Responsible for planning, forecasting and managing cash,
working capital and liquidity, the cash czars make the tough
decisions when needed.
12. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
• The risk czar must understand the many risks that could
force the company to rethink its strategy. The czar keeps
a keen eye on currency, FX, competitive, demographic,
environmental, regulatory risks and quickly determines
their impact on the business.
• The chief economist – often the CFO themselves – scans
the landscape to monitor macroeconomic events and
interpret what they could mean to the company.
SPECIALIZED FINANCE(cont'd)
13. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
Finance seeks
new skill-sets
• Finance’s talent needs have changed. Knowing the business
matters as much as knowing accounting rules – if not more.
• New roles become increasingly important, as Finance brings
in business process consultants, business analysts and
specialized technical experts.
ORGANIZATION AND PEOPLE
14. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
• Scarce talent means firms focus on training and
developing the people they need in-house.
Rotations through the business units become
the norm in building a new generation of
Finance leaders.
• Soft skills become more and more important.
Companies prize those with outstanding
consulting, negotiation and influencing skills –
as well as those who can turn data-driven
insights into actionable advice.
ORGANIZATION AND PEOPLE(cont'd)
15. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
Embracing mobile
and the cloud
• Integrated ERP systems will still be the backbone of
companies’ financial systems – but mobile devices and cloud
computing will transform everything else.
• Cloud-based apps provide companies with highly scalable,
rapidly deployable and continually updated services.
INFORMATION AND SYSTEMS
16. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
INFORMATION AND SYSTEMS(cont'd)
• Ubiquitous mobile devices seamlessly integrate with
finance systems through simplified, single-purpose,
self-serve apps for common transactions. Automated
workflows streamline approvals and other processes.
• Highly graphic visualization tools become a common way
of interacting with finance data, rendering the humble
spreadsheet obsolete.
• Managers and decision-makers receive alerts on project
statuses and budget variances automatically.
17. cont'd
RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
Continual,
automated vigilance
• Investments in workflows, process automation and analytics
greatly enhances companies’ ability to monitor controls,
manage risk and improve governance overall.
• Policies and procedures are managed centrally, with new
regulations, controls, and technical conventions pushed out
quickly and easily via the cloud.
PROCESS AND POLICIES
18. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
• In finance factories, companies deploy new process
management and process analytics to monitor process
automation, service levels, activity, event durations,
manual touch rates and first-time-right benchmarks.
• Governance, risk and controls solutions now feature
intelligent monitoring tools and compliance alerts. These
solutions continuously monitor controls and provide
proactive detection and reporting of exceptions, defects
and compliance or policy breaches.
PROCESS AND POLICIES(cont'd)PROCESS AND POLICIES(cont'd)
19. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
CFOs need to move quickly
to jumpstart evolution
of their finance team
20. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
Start with a vision. Where do you want
Finance to be in the next 3-5 years? What
do you want Finance to deliver? How do
you want Finance to work with the rest of
the business? What are the gaps between
the current and future state?
NEXT STEPS
1
21. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
NEXT STEPS
Break it down. Take that vision and
consider what it means in terms of
operational finance, business finance,
strategic finance, organization and people,
information and systems, and policies and
processes. Here too, look at the current
state and consider what needs to happen
to reach the future state.
2
22. RETHINKING THE ROLE AND DESIGN
OF THE FINANCE FUNCTIONFINANCE2020
NEXT STEPS
Create a blueprint. Now, identify the
investments you’ll need to make to bring
about the future state. Think about the
policies and processes that need to change.
The organizational structures that need to be
created or taken apart. Consider your talent
mix to ensure you have the right people –
and the development programs to help them
fulfill Finance’s new role.
3