The finance function is faced with increasingly complex and evolving challenges. Even more today where we are facing an uncertain and unpredictable environment.
The finance function must answer to various challenges:
The finance function must therefore strengthen its links with general management and operational staffs in order to contribute effectively to global performance management.
It must take full advantage of modern digital solutions and big data.
In its missions, it must directly or indirectly play the role of an “archaeologist” in the search for useful data and its “cleaning” to guarantee a “single truth”, that of a “detective” when it comes to making data talk, and finally that of a “scientist” when it is now essential to draw conclusions from their interactions (Advanced Analytics or Data Analytics) as much to predict changes in behavior as to prescribe new business models.
All financial processes must be defined and documented. Optimizing them should be the guarantee of their maturity and the confirmation to move towards automation. At the risk of "automating inefficiencies". For this we recommend a Business Process Monitoring (BPM) approach.
A fundamental principle: "the tool is never an end in itself". Its choice must be the result of a structured and concerted reflection that includes the questions of what, why and how?
The finance function must strengthen its proximity to operational staff. It must integrate each department into the heart of the budgetary process and each player into the center of the decision support system. Bringing human capital on board means adopting agile, iterative project management methods and promoting collective intelligence tools.
Don’t hesitate !
