What finance leaders say about the challenges ahead
In addition to the extensive advice that the case studies present, there is also expert input from leading finance specialists; Atos Origin, Deloitte, PricewaterhouseCoopers among other consultancies. You will also find the hard evidence from research and benchmark studies that underpin the performance claims, issues and challenges facing finance from The Hackett Group, Microsoft, IBM Global Services and Business Intelligence.
Here's what some of these finance leaders said about these challenges:
Demonstrating value to the business
“I could show directly how we created value – tens of millions dollars of bottom line benefits and 100s of million of enterprise value – we made that happen and the organization sees that. Finance has a high degree of credibility within Purolator.”
Sheldon Bell, chief financial officer, Purolator
The critical success factors behind transformation
“1. Sponsorship from the executive council (vision).
“2. Ownership of the transformation plan by the business finance leaders (alignment of goals and objectives to reach the vision set by the executives).
“3. Establishment of a detailed plan with milestones (what/when), clear accountability (who) and metrics – All should be reviewed at least quarterly.”
Denise Kluthe, former assistant controller and director,
GBS financial accounting services
Meeting the business support imperative
“How finance gets insightful information to business leaders and decision makers at the right time will be of huge importance in future.”
Jill Robinson, head of finance business management, Barclays
A new role for public sector finance
“… the finance function in government must teach itself how to understand managing for value (rather managing for profit or compliance with budget allocation). This means taking a strategic view of the business rather than a solely financial one.”
Peter Ryan, planning and performance manager,
Christchurch City Council, New Zealand
The talent challenge
“How to systematically upskill finance talent in a smaller scale finance organization,” is the major priority for finance ahead.
Martyn Redgrave, former executive vice-president and group chief financial officer, Carlson Companies
Becoming partners with the business
“Finance has to work in partnership with the business and drive it to exceed its targets and so become the natural port of call to which the business goes for counsel.”
Gerard Smith, group finance director, Easynet
The broader role of finance
“We can do a lot to support the commercial strategy of the business, but unless this is underpinned by an absolute commitment to ‘performance with integrity’ we will eventually have problems.”
Paul Blackburn, senior vice president, financial controller, GlaxoSmithKline