The business landscape is changing at a radical pace and finance teams are continually challenged to remain in the growth zone and steer their organisation through turbulent business environments.
No matter how successful, today's finance leaders increasingly feel pressure to add value, reduce the cost to serve and enhance business performance. In order to remain relevant and be seen as trusted business partners and advisors, finance leaders are required to develop, lead and own comprehensive business transformation initiatives from beginning to end. These transformation initiatives need to address real shop floor solutions for business challenges that extend beyond cost-cutting programs.
Finance within business continues to evolve, demanding a greater ‘seat at the table’ in driving strategic outcomes. As such business leaders need to ask themselves the three most important questions when thinking about transformation initiatives;
- How well do we leverage technology?
- Do we have optimal and proper competencies?
- Do we have the right governance model to partner with business?
These key questions need to be addressed to transform the function of finance from gatekeepers to a function that is cost-effective and efficient in facilitating better decision making and business performance.
What is driving the pressure to change?
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