With major trends about to change the financial function beyond recognition, CFOs without a clear vision and strategy will be swept away.
Major developments in technology and the external environment are set to transform the structure of finance functions and the way they operate.
Under pressure to automate and cut costs, finance teams will have to adopt new technologies and approaches to perform standard tasks more cheaply and efficiently. At the same time, finance has the opportunity to manage and interpret its rich data resources to exert a broader and more strategic influence on the business as a whole.
To avoid being swept away by these changes, you need a clear strategy addressing five fundamental areas.
To start shaping your Finance vision and strategy, think about the following five critical questions.
In your vision, does Finance steer the business? If yes, are you ready to invest in radical change?
How much do you believe in automation? Are you willing to standardise to realise it?
What control do you need over the operations of your future Finance function?
How do you give your people the tools they need to thrive in the future finance function?
How much business-generated data should Finance use to drive decisions?
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In our rapidly changing world, it can be difficult to articulate a clear and comprehensive vision for fear of it becoming obsolete moments after it’s been defined. That’s why we’ve developed the five fundamentals of finance strategy, a framework to help you set the foundation enabling you to build a strategy that’s fit for the future.
Advisory Partner (Finance Risk and Regulatory Transformation), PwC Switzerland
Tel: +41 58 792 25 19
Advisory Director (Finance Transformation), PwC Switzerland
Tel: +41 58 792 28 47
Advisory Director, Data and analytics, PwC Switzerland
Tel: +41 58 792 16 20
Tax Senior Manager (Tax Disruption Consulting), PwC Switzerland
Tel: +41 58 792 45 16