PwC finance effectiveness report outlining how the best performing finance functions (those in the top quartile of benchmark evaluation ratings) are able to meet evolving business needs, balance being a business partner with their traditional responsibilities and ultimately deliver real value to the enterprise.
Against the background of gradual economic recovery, ‘Is finance rising to the challenge?’ outlines the latest findings from the benchmark analysis of over 100 participating companies. In particular, the report examines whether finance teams are equipped to provide the levels of strategic insight, risk oversight and other key aspects of the ‘business partnering’ role now expected by many CEOs.
It also looks at how the best performing finance functions (those in the top quartile of benchmark evaluation ratings) are able to meet evolving business needs, balance being a business partner with their traditional responsibilities and ultimately deliver real value to the enterprise.
What comes through clearly from the findings is that while considerably more finance functions now regard themselves as true business partners compared to a year ago, many organisations still lack the necessary capacity and capabilities to fulfil this role. There is also strong dissatisfaction with the quality of management information, especially the kind of forward-looking analysis that could help firms stay ahead in a fast-changing competitive environment.
Pricewaterhouse Coopers' Finance Effectiveness Benchmark (FEB) program provides an opportunity for you to evaluate your finance function compared to your peers. The program includes: a strategic analysis of your finance function against peer organizations, executive interviews and a performance survey which is delivered online. Clients receive a detailed analysis and report which includes information on how top performing finance organizations achieve this position. With the ability to perform intra- organization comparisons — one business unit compared to another - this offering provides insights into which parts of the your finance function are strongest, which are weakest, what the perceptions and priorities are and where there are opportunities to increase efficiency.
If you would like to assess the performance of your finance function or discuss any of the issues raised in this report, please contact us.Is finance rising to the challenge?