Every finance organisation must be able to produce timely and accurate financial statements. Think of this as the always-on service required to support the business. Getting the financial house in order is the CFOs first and most important job. Finance departments who reliably deliver the numbers required for routine financial reporting are able to allocate resources to other functions that create more business value. But innovation and improved performance do not happen by accident. They require investment. It is time for CFOs to think about re-investing in their own organisations. Some CFOs have set the example by implementing operational efficiencies such as shared services centres and consolidated general ledgers that help reduce costs. But many of them have also had to cut corners, sometimes patching operations together.
Deloitte's Finance Transformation Strategy solution offers a modular approach that supports the CFO in shaping a finance department transformation programme and articulating the value it will add. It is used to identify the gaps in the performance of the finance function and to define the improvements required to the finance operating model to achieve the desired level of performance. The Finance Transformation Strategy solution also supports the integration and alignment of finance departments, following mergers and acquisitions. The Finance Transformation Strategy helps to regain control - and refocus on opportunities that create value.