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本帖最后由 花中滴雨 于 2016-7-20 17:48 编辑
[Point=100] This presentation is meant to challenge you on the future role of the CFO and the Finance Organization. It is very clear that the Finance Function, like other functions and departments within most companies, is being challenged to reduce its overall cost to the business while at the same time delivering services and insights that lead to profitable revenue growth. This presentation is meant to define the relevance of Finance in a more strategic role than it has been accustomed to in the past. In working with companies and CFOs from all regions of the world, we have been fortunate to see the many forces affecting the Finance Organization. To better understand these forces and the implications to Finance, we have sponsored a proprietary research program with the EIU. Our hypothesis was that Finance Organizations were moving to a model that delivered more valuable services with fewer resources. Our research provides specifics on the types of services and changes required. Also, the term Business Partnering is used very loosely today without much definition. This presentation will provide our vision of the evolving role of the Finance Organization and will give specific examples of the responsibilities of the Finance Organization as a Business Partner. Finance is defined broadly to include the typical trans. processing activities of P/R, Gen. Acct, T&E, A/R, Cash, etc. Also includes the Tax, Treasury and Internal Audit functions as well as Planning & Budgeting, Cost Acct., internal and external rating.
Finance typically costs 1-2% of revenues in most companies. As such, it is not a significant total cost. Finance headcount for a $1 billion company is around 150 people on average. Usually two-thirds of that headcount is spent on transaction-processing activities while the remainder is focused on controlling and planning functions. However, the function will have to contribute to optimizing its cost structure like other parts of the organization. We are seeing some companies reinvest those savings from cost reduction into more value-added services. In light of these forces impacting business and the finance function, we asked CFOs how satisfied they were with the current organization. What we found was that CFOs and Finance Directors are overwhelmingly dissatisfied with: The skills and competencies of finance professionals - the changing nature of the finance function requires new skill sets performance measures - Today抯 measures are still focused on cost and headcount and not measures like process speed or incremental revenues generated or other measures that address the value-added activity provided by the finance function - the changing nature of the finance function not only requires new skill sets, but also new performance measures. Organization of the finance function - CFOs and Finance Directors are dissatisfied with the current ways in which finance is organized and interacts with other areas of the business. They feel that current structures impede the flow of communications and a service mentality. accessibility and flexibility of decision-making data - current ways of identifying, collecting and distributing relevant information is not keeping pace with the changing needs of the finance 揷customer. The degree of standardization and integration of systems - CFOs and Finance Directors are increasingly calling for more integrated systems across the organization that deliver information to the desktop of the users, the balance between routine, transaction-oriented work and work that is more strategic and value-added - CFOs and Finance Directors see many opportunities to meet and exceed their customers expectations through strategic activities, but are frustrated by a continued focus on transaction-processing.
Finance professionals recognize the mandate for Change. Let‘s now turn to the key elements of a vision Of the Finance Organization The inner circle represents the amount of resources focused on business partnering, the more strategic activities. As Finance reduces its overall cost as a percent of revenues in the future, the resources dedicated to Business Partnering will increase. We see four key imperatives for Finance in the future. In addition, Finance will retain its traditional responsibilities. They will, however, be executed in a more efficient manner utilizing best practices and innovative technology. You may be asking yourself why should Finance take on these strategic roles. We see it as a natural evolution for finance because of its fundamental strengths: Finance has more involvement with other functions than any other department Finance personnel are known for their skills in analysis, organization, research, skepticism, and project management. By successfully reducing its cost structure, periodically benchmarking its progress and implementing best practices, Finance will lead or contribute to change programs in other areas of the business. Finance heritage as a scorekeeper? Will enable it to continue as the measurement people. However, rather than GAAP or SEC rules, finance will focus more on the key business drivers that grow revenues, retain customers and increase profitability. The Strategic Finance Framework is the result of research and Institutes conducted with the Economist Intelligence Unit. The framework provides a means of summarizing the strategic direction of the finance organization, the critical roles and responsibilities it must adopt, and the types of changes required to accomplish complete business partnership. The framework is a work in progress? . .subsequent phases of research will focus on providing additional content. The framework consists of three components: The Strategic Requirements for the Finance Function in the Future: Expanding Competencies, Sharing Knowledge and Initiating Change. In order for the finance function to truly become a strategic business partner, the finance organization must aggressively adopt these three requirements. The Critical Business Imperatives: On a more tactical level, finance must focus on four key imperatives for improving and expanding its services to all customers of finance. These four imperatives are: Improving fundamental finance processes, Conducting value-added business analysis, Assessing business risks and opportunities, and developing company-wide performance metrics. The Changes Required to Realize the Full Strategic Potential of the Finance Function: In order for the finance organization to truly evolve into a strategic business partner and maximize the services it offers, changes are required on four levels: Strategy, Process, Technology, and People. Each of these three components is described in more detail on the following slides. Strategic Requirements As finance evolves, it (and the CFO) must rethink the way it views itself and the service it provides to the organization. The finance org must evaluate how it can best help the company implement its overall corporate strategies. Based on that assessment, finance can then determine its service offerings. Expanding Competencies - In order for finance to truly evolve into a business partner with the rest of the organization, finance must review and revise the competency and skill requirements of finance professionals so that they can best meet the needs of finance customers. This means hiring people with diverse backgrounds and experiences, rotating professionals throughout the business, training and re-training, etc. Expanding competencies also means educating and training, if necessary, no finance professionals to maximize the services and products finance offers. [/Point] to be continued
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