Is good enough…enough?
There are many key elements to a well-run business, and having a solid finance operation is one of them. Your organization’s financial information feeds every activity in your organization. A solid finance operation allows you more time to make better business decisions. If you don’t have a solid finance operation, then your decisions may have worrisome consequences.
The value derived from an investment in finance operations varies according to the maturity of the finance shop. For those lacking core fundamentals, an investment in finance operations should dramatically mitigate financial misstatement and improve data integrity. Those that already have the fundamentals covered can focus on improving decision-support capabilities and driving sustainable cost savings. But obtaining lasting results from finance process improvements isn’t easy. The process requires a unique combination of innovative thinking and disciplined follow-through.
When we look at the ways some of the world’s leading companies have improved their finance processes, several key lessons shine through. Here are six to consider:
- Think across borders
- Make the case
- Accept the certainty of change
- Shift from execution to analysis
- Align with business objectives
- Rationalize controls
Download Finance operations – Is good enough enough? to learn more about ways to improve your finance processes and begin building a solid finance operation.
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