One of the main goals of the finance function is to add value to a business and identify opportunities for improving financial performance. The shift from the traditional support function to the role of business partner makes it possible for the finance department to minimise the processing of standard transactional information and reporting and, conversely, to focus on activities with added value to support the management in its decision-making processes, ensure compliance with the company’s rules and financial discipline, and to meet the requirements of best practices and standards.
As the finance department and its function face an increasing number of changes, pressures and challenges, there is no single best answer to these finance function issues. All areas of the finance function need to be assessed to establish a forward-looking strategy and a change plan.
PwC has vast experience in helping its clients formulate an appropriate approach to introduce financial function changes. With our help, the financial function will start to mutually influence control elements, costs and efficiency in direct relation to the business strategy, and, at the same time, help create a structure and culture that respond to changing conditions.
We can help you to reduce the amount of time needed to produce management and statutory accounts, integrate financial applications and data, and improve performance management systems and budgeting processes. Our solutions provide greater transparency in reporting, faster and more accurate decision-making processes, better quality management information and analysis, and faster closing of accounts. As part of this optimisation, we streamline activities across different departments and locations and reduce high IT, financial, and organisation costs. We analyse and investigate independently the value drivers of a business and the underlying performance management model.