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Introduction
Finance plays a key role in strategy and development of organisations, and “Changes” are required to revolutionise the way an organisation performs its finance functions, internal control, reporting and overall processes. Improvement in performance is not merely cost reduction. Organisations required to undergo finance transformation in terms of strategic initiatives to realign finance to the key requirements of their customers and overall company strategy, covering governance, scale and services.
Why Finance Transformation ?
- Business Environment undergoing a massive transformation
- Emerging new Business Models
- Stakeholders of Finance looking for “Change” and “Value Addition”
- Finance uniquely positioned to partner and steer the business in the right direction
- Leveraging the Digital wave
What are the expected outcomes ?
- Optimize Cost of Finance function
- Digital transformation and insights to business
- Best in class processes, practices and standards
- Business partnering and business steering – Lead by Finance
- Finance personnel moving up the Value chain
How do you Transform ?
- Benchmark relevant contemporary processes and practices
- Gap analysis (Processes, Practices, Standards, People aspects)
- Capture Stakeholder expectations
- Draw transformation roadmap
- Implement projects, drive and establish the new norm