"You can be world class in 2003, but circumstances change and you’re no longer world-class in 2005. Finance and accounting folk live in a very dynamic environment."
Jonathan Schiff of Schiff Consulting, Professor of Accounting at Fairleigh Dickinson University, USA.

Five core capabilities that generate added business value

For finance to play a new, value-adding role, transformation must achieve reforms at two levels: service delivery and closer integration with strategic and operational management. Our research shows how this can be most effectively and reliably achieved. Creating a world-class finance function shows that finance needs to excel in five areas:

Capability 1: Strategic and business partnership
Capability 2: Corporate performance management, budgeting and reporting
Capability 3: Governance and compliance
Capability 4: Flawless delivery of transactional processing activities.
Capability 5: Talent management.

The Report provides an in-depth analysis of these core capabilities, their development and implementation. It draws extensively on the practical experience of companies to show not just what changes must be made, but how to make them happen.