Over the years, Finance function has been slowing evolving from transactional back-office function to a more strategic business partner. Our research findings show that the finance capability and business capability has not completely matured enough to support the transition & hence expectations from the finance function. Although Organisations have realised the need to have organisation-wide transformation to support the vision, they still do not have the clarity to make such transition.
While the transformation effort and the associated complexities differ from organisation to organisation, our experience tells us that the characteristics of the transformation have remained the same. Hence, our transformation strategy embraces a holistic approach that embodies common factor of people, organisation design and technology. Based on these factors, we work with organisations to develop plans and transformation journey on three pillars – Business Capability, Finance Capability and Governance.
Designing finance transformation journey
Using our methodology, we work to improve the business and finance capabilities with an eye to enhance governance systems at the same time.
STAGE 1: FINANCE CAPABILITY
Focus on strengthening processes, information systems, operating model and resources.
STAGE 2: BUSINESS CAPABILITY
Integrating finance as a key member of the business team, supporting decision making, ensuring projects are implemented with the right financial metrics and supporting business strategy.