In 2011, PwC Kenya launched an innovative survey dubbed 'Finance Benchmarking Survey’. The survey explored the need for CFOs and their teams to become true ‘business partners’ who add real value and insight to the organisation. It helps businesses rate their finance functions.
Some of the survey findings were as follows:
- Only 39% of finance teams in Kenya are perceived to play a strategic role within their organisation. Is your finance function rising to the challenge?
- Some finance teams in Kenya take up to 20 days to close and report, whereas leading organisations are able to do this in 8 days. Does your finance function lead or follow?
- Only 25% of finance teams in Kenya use mature balanced scorecards for management reporting with an appropriate balance between financial and non-financial performance indicators. How can your finance function offer sharper insights?
- Over 30% of finance staff in Kenya, on average, do not have any formal finance qualifications. Are you retaining the right talent in your finance team?
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