Finance Function Effectiveness

While striving to meet new challenges, virtually every organisation today is hindered by the complexity of disparate systems, a proliferation of spreadsheets and varied management processes and controls. The result is an inability to access accurate, timely and easily digestible information from which to manage, forecast, report and drive performance.

In order to take the finance function from a scorekeeper to a business partner, you must understand the critical building blocks that influence the effectiveness of your finance function. Putting the focus and energy on the right aspects will enable the finance function to create growth rather than measure it and to create performance drivers in terms of what your organisation can achieve.

To assist you, we will conduct an assessment of the building blocks to determine where the real underlying issues reside. The size and complexity of the organisation and the finance function determines the level of depth the assessment needs to delve into. The assessment comprises a combination of interviews with the team and key stakeholders reliant on finance, review of documentation and processes, and reviewing the key deliverables produced by the finance function.

Once the key issues have been identified, we will help you develop and implement solutions to address the issues. In our experience typical issues and solutions include the following:

  • Improving the speed of reporting and closing the books
  • Review and restructure of the finance organisation
  • Improving working capital and cash flow management
  • Controls optimisation
  • Performance optimisation – KPIs, balanced scorecard and business dashboard
  • Financial systems assessment and selection.