As finance executives become more engaged in corporate strategy, finance function transformations are critical to enable the changes that strategy execution requires. Finance function transformations drive shareholder value and should be developed in line with an organisation’s overall strategy and its expectations of the finance team.
Finance executives of modern businesses (be those private, public or not-for-profit) are required to constantly engage with the business from an internal and external mindset. As businesses grow and adapt to an ever-changing external environment, finance functions can be responsible for inhibiting the organisation’s evolution.
How BDO can help
BDO’s expertise and experience can help organisations successfully execute their finance function’s transformation objectives. We understand the key elements that drive these activities, and can assist in developing a fully integrated approach to ensure long-term application and relevance of new policies and procedures.
BDO has a proven methodology for reviewing the effectiveness of finance functions to assist in establishing the best-fit operating model for the organisation.
Our methodology works with your organisation to establish the most appropriate operating model for the finance function, providing management with a clear understanding of opportunities and risks, together with cost-effective recommendations to better meet business needs.
Our methodology incorporates the following services:
- Finance function diagnostic
- Finance function efficiency reviews (across people, processes and technology)
- Analysis of an optimum financial management operating model
- Implementation of finance function improvements
- System selection and implementation partnering
- Viability assessment for outsourcing
- Outsourcing readiness
- Establishment of finance function for new entities
- Financial governance
- Payroll review and improvement
- Budget establishment and process improvement
- Finance team capability assessments, improvements and recruitment
- Finance staff training
- Board, executive and management reporting.