Today, chief financial officers (CFOs) face the challenge of coping with increasingly complex demands on the finance function: providing transparency in external reporting, driving value creation, and facilitating strategic decisions. To successfully meet these demands, CFOs need to create a world-class finance function that aligns corporate, financial, and investor strategies. As part of this process, they need to address some key challenges:
- Defining the role of finance functions
- Identifying and managing strategic, operative, and financial risks, especially in times of crisis
- Building and sustaining a world-class finance function with benchmarking processes in each department
- Increasing the effectiveness of management reporting to best facilitate strategic decisions
- Installing a value-creation system throughout the organization
