Unlock value through your Chart of Accounts


Unlock value through your Chart of AccountsMany organisations start their COA redesign journey with a very narrow focus and a lack of awareness of the broader downstream implications. For those considering, or already on the COA redesign journey, this paper outlines eight key steps organisations can take to create a COA that delivers real value to the business.

The eight key steps are:

  1. Understand how the COA delivers performance insights
  2. Get more out of your COA
  3. Listen to the business – not every answer
  4. can be found in the COA
  5. Leverage technology – but put the business first
  6. Keep regulators happy…and your finance team engaged
  7. Incorporate the needs of your global businesses
  8. Consider the governance model
  9. Involve the business in designing the COA.

In this paper, we highlight the experiences of three large, multinational clients that undertook a major general ledger replacement, including two that redesigned their global COA. Structuring the COA to measure the performance objectives of the organisation is a priority that should be high on the CFO’s agenda.