Today’s Chief Finance Officer (CFO) is being challenged to build a Finance organisation that meets cross-functional business requirements in the midst of limited budgets, increasing regulatory compliance requirements, changing market expectations as well as critical talent management challenges which are all combining to place enormous demands on finance’s resources.
Addressing this more multifaceted business environment through a single lens such as growing headcount, leveraging external resources or spending on technology may bring momentary reprieve but sustained results come from those organisations that have adopted an integrated approach aimed at addressing the numerous dimensions of finance role.
Additionally, organisations are increasingly ranking the conflicting objectives of cost reduction and increasing finance support for analysis and decision making. Such quantum gains in productivity and effectiveness must be driven by improvements across all dimensions that jointly define the finance operating model. Today, Finance is being expected by the business to develop and deliver business plans and strategy, provide constructive business reviews and appraisals as well as provide ‘early’ insights supported by forward looking and delivery track record analysis.
Balancing these conflicting demands require continually paying attention to details and the other on how to realise value.
How we can help
Our team of consultants apply methodologies to help the Finance function understand key business drivers and manage performance by enhancing value creation across the organisation to provide:
Shareholders’ value maximisation is top on the agenda of the CFO of today. They are keen to ensure finance activities are aligned with corporate and business strategy to ensure they support the critical activities that create value across the organisation.
Execution Edge works with CFOs to develop their Finance target operating model strategy which aligns with corporate and business strategy in order to enable CFOs direct their investments and management attention toward realisation of key corporate priorities.
The expectation on the finance function is to assume broad role of providing management information and analysis and becoming more influential in managing organisations. Consequently, the role of finance is shifting from a focus on transactions processing and cost efficiency to business analysis and strategic decision support.
Again, Finance organisations need to put compliance and control to the top of their agenda as they are accountable to the business and to the financial community so require embedded and sustainable solutions to compliance and control. Flexibility to respond to future regulatory change is also becoming progressively more important.
At Execution Edge, we partner with our clients to leverage the potential of the finance function to support the business by refocusing finance activities away from transaction processing and toward decision support as well as reducing the cost of the overall Finance function.
We assist clients maintain the balance between satisfactory level of controls and desire to strike a balance between over- or under-controlled business operations in order to avoid the dilemma of either exposing the business to risk or stifling business process flexibility. We help to position the finance function as a trusted business partner that understand the common goal, collaborates with, and timely engage all stakeholders in order to drive achievement of goals and objectives.
Implementation of shared services models usually achieve significant cost savings and as a result has become the preferred delivery model for many organisations. The challenge remains in successfully setting up shared services and outsourcing arrangements to derive sustained benefits as organisations often encounter implementation difficulties.
Execution Edge can provide expert advice around developing Shared Services strategy through defining and analysing the opportunity for shared services, engaging stakeholders and providing practical advice on service delivery and transition plans.
Effective finance process models should aim at addressing the full cycle of operations. Gaps and silos are eliminated by simplifying and standardising processes and understanding how each process links across the entire enterprise.
Process enhancements should be the platform that organisations build on continually. Improving Finance processes not only provides the opportunity for improved efficiency and effectiveness, but also can improve Finance service delivery and business partnering through quality enhancements.
Execution Edge brings a pragmatic and results-oriented approach to assist clients develop and implement a target process model that delivers end to end linkages with the enterprise as well as providing for continuous improvement resulting in increased process efficiency and effectiveness.
To facilitate and drive a culture of continuous improvement of the Finance function, organisations need to develop performance measurement frameworks that provide a clearer understanding of performance and supporting processes. A well designed framework will deliver feedback as well as a baseline to measure performance improvement.
Execution Edge works with Finance executives to develop periodic Finance operational reports as a basis for monitoring the performance of the Finance team; Service level Agreements to provide contract between Finance and the Business and assist in managing expectations; as well as provide external benchmark to serve as baseline for comparison with similar organisations.