The role of the CFO has changed – not just about managing finance anymore, the finance function is one that can add real value to an organisation. In order to get to this point, successful transformation of the finance function requires change to not only the organisation, processes and resources, but also the human factors such as values, culture and employee skills.
“Revolutions are underway within businesses, especially for the CFO role. Applications and technical solutions are going to make us reexamine the roles of our teams and their processes and tools. These technological advances also come with major changes in management methods and working relationships.”
- Caroline Couesnon, Partner, Mazars
Mazars’ Finance Transformation services are designed to transform and improve the finance operations of our clients, tailored to the unique needs and objectives of each organisation. Transformation projects typically involve a functional assessment, followed by executing the projects identified in the assessment.
A high performing finance function will:
- Anticipate the direction of the market through realistic economic planning.
- Align the organisation and activities of the finance function within the organisation’s strategy and implement a transformation programme.
- Determine drivers of both growth and cost reduction while also assessing risks.
If we take a glance at the current landscape of technology, there are many things which CFOs must consider. There are solutions including the shift from paper-based processes to digital processes, robotisation and intelligent reporting tools. ‘Chatbot’ assistants may also be considered for client and supplier relationships in Customer Collection Centres and Shared Services Centres (SSCs). These solutions also include the new concept of on-demand services - these new models are increasingly used in organisations and in service agreements between clients and internal suppliers.
Contact us to discuss how we can work together to transform your finance function into a high performing, strategic dimension.
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Case study: Finance transformation
Mazars designed a global transformation roadmap and delivered the three major projects which were identified from creating this roadmap.