Gone are the days when finance and accounting were primarily seen as the firm’s eyes on the money. Today’s fast-changing business challenges require a team that’s fully clued into market dynamics. Finance leaders must also enable strategic initiatives.
Research shows their role right from the start in enterprise-level interventions has been critical to success. Organizational change projects for productivity, process re-engineering, and technology enablement have to “flow through” to financial intelligence, compliance, regulatory requirements and IT migrations.
With their particular skill-sets and experience, finance managers can help multi-functional teams achieve operational goals, especially in divisions or geographies that are underperforming. Their value is immense in helping teams to assess, stabilize and innovate.
To be true business partners, Finance has to refocus and deliver on this renewed job description. Leveraging new working models for agility, including partnering for business outsourcing, insights, and transformation, is now their challenge too.