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CFO services

Addressing the challenges of the finance function

CFO servicesIt is challenging being a CFO these days. Complicated decisions have to be made on many fronts, and knowing exactly how to proceed at any given time is harder than it looks. A smart move for one company could be unreasonable for another - and understanding which way to turn requires experience and insight.

Deloitte CFO services combines all of Deloitte’s capabilities to help CFOs improve in the multiple roles they play - from reporting and controls to finance operations or strategy and execution - and address the challenges their finance functions faces.

At the same time, CFOs face never-ending pressure to cut costs, grow revenue and tighten controls - while assuming unprecedented personal risk for their company’s mistakes. Given these internal and external forces, it is no wonder that CFO turnover is on the rise. One reason the CFO’s job is getting more complicated is because it comprises four major roles. We call these distinct roles, the 'four faces' of the CFO:

  • Catalyst
  • Strategist
  • Steward
  • Operator

The four faces of the CFO

According to our experience - and conversations with CFOs - these are the challenges we often see cited for today’s CFOs:

  • Producing accurate and timely financial reports
  • Keeping internal controls lean and balanced
  • Acquiring, developing and retaining finance talent
  • Reinvesting in finance capabilities
  • Factoring tax into every business decision
  • Staying focused on finance and value
  • Generating more insight from less data
  • Promoting informed and intelligent risk-taking
  • Linking business activities to shareholder value
  • Expanding the influence of the finance function

In the current global economic and financial context, a number of other priorities have made it to the top of the list:

  • Cash and working capital management
  • Cost containment and expense management
  • Availability of capital and management of funding

Our CFO services in a synthetic way

  • Finance transformation strategy
    Helps CFOs identify the weaknesses in their finance organisation to prioritise the required change initiatives, and supports CFOs in defining an optimal operating model that will increase its influence in the organisation, support the business and manage key finance activities more efficiently.
  • Financial close and reporting optimisation
    Helps CFOs in need of enhancing the quality, improving the timeliness and/or reducing the cost connected to their financial close and reporting process.
  • Treasury and working capital optimisation
    Helps CFOs to identify and assess the potential optimisation of working capital needs in close collaboration with the management to include the commercial and operating perspective. This includes a detailed review of the accounts receivable, accounts payable and inventory in order to identify and quantify potential cash flow improvement.
  • Debt advisory and credit assessment
    Helps CFOs to improve their cost of financing and optimise their funding structure from a financial, tax and risk perspective.
  • Integrated performance management
    Helps CFOs by implementing a structured management approach to translate strategic objectives into operational results, through a lens focused on value creation. This includes identifying KPI that are aligned with strategy.
  • Financial transaction process optimisation
    Helps CFOs to improve the financial value chain automation: reviewing information systems, analysing current configurations in order to improve productivity and efficiency.

Contacts

  • Petra Hazenberg
    Partner - CFO Services Leader

Focus on

  • CFO services - Addressing the challenges of the finance function
    The Deloitte Luxembourg CFO services offering focuses on tailored solutions that address the challenges the CFOs of today face.
  • Article
    CFO survey 2011 - Le moment des résultats
    Fin 2011 Deloitte a effectué une enquête auprès des CFO des secteurs du service et de l’industrie afin d’étudier les rôles et les priorités du CFO.
  • Chief Financial Officer - A complex role
    Georges Kioes, leader of the CFO services, shares the results of the Deloitte Luxembourg CFO survey and the complex role of a CFO in an organisation.
  • ExternalURL
    CFO connect
    You can find here insights into the challenges CFOs encounter in each of theire four roles.

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  • Deloitte Luxembourg CFO survey - 30/06/2014
    93% of companies in Luxembourg produce at least one dashboard to manage their activities. Over 30% of the respondents, however, admitted to taking uninformed decisions due to the tools not providing the information needed.
  • CFOs in Luxembourg | Dashboard and Key Performance Indicators - strategic tools for the organisation | Podcast
    Georges Kioes and Petra Hazenberg, partners of the CFO Services at Deloitte Luxembourg, present the results of the 2014 CFO survey.
  • Article
    Deloitte CFO survey 2014 - How are organisations fine tuning their key activities? | Whitepaper
    The 2014 Deloitte survey focuses on the implementation and use by companies of dashboards and performance indicators as strategic tools.
  • 2014 Private Wealth Outlook Championing growth | Whitepaper
    In 2014 the private wealth industry is expected to be as competitive as ever. While worldwide wealth is growing, there is an increasing number of institutions competing.
  • Deloitte unveils the findings of its Luxembourg CFO survey - 12/07/2013
    Due to the challenging economic environment, as well as the question of financing and relationships with financial partners currently figure among Luxembourg CFOs’ major concerns.

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