Finance Function Effectiveness
In a post Sarbanes-Oxley era, the finance function is under increasing pressure to move beyond its traditional activities to deliver enhanced value to its stakeholders. Historically, finance departments were organized around activities such as processing transactions, maintaining accounting records and delivering month end reporting. As the finance function has evolved, CFOs are re-defining their organizations to be business advisors, support their companies' strategic plans as well as rationalize systems and processes throughout the organization.
As the role of the finance function continues to evolve, companies are finding that they may be able to improve their efficiency and effectiveness by taking direction from some of the best-in-class companies. A best-in-class finance organization will have an impact not only on the office of the CFO, but also contribute to the success of the organization as a whole.
If this is your situation
- Your finance organization is comprised of inefficient, manually intensive processes, diverse policies and practices, disparate systems and data structures that are not integrated.
- You want to enhance integration across the reporting supply chain (data collection, subsystems, ledger close, consolidation and analysis).
- You need to provide executive management with the information it needs to manage and monitor the business effectively.
- You want to increase the involvement of the finance function in influencing business outcomes and helping key stakeholders apply financial data to strategic decision making.
- You would like your finance team to assume a larger role in identifying and maximizing the drivers of shareholder value.
- You see value in creating a competency model for finance function employees and implementing programs for developing finance competencies.
How PwC can help you
PwC experts can improve all round finance effectiveness by helping you align your finance organization structure and processes with your business strategy. Our experience working across industries can bring you insight into the relative performance of your finance function as compared to your peers and identify performance gaps.
Our team has the capability to advise on performing tasks in a timely and cost effective manner, simplifying and standardizing systems, leveraging existing technology, and eliminating non-core activities through shared services and outsourcing.
to see how PwC can assist you.