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Article by Kishan Dial, Jeff Wong, Todd Dixon,
Alison Glober, Samir Bishara and Sebastien
Doyon
The top 10 issues faced by senior finance
executives
1. Continuing to drive down costs and improve
efficiency, however, the best finance function doesn't
necessarily mean the lowest cost.
Burning question:Do I need one
instance of an ERP?
2. Managing business and compliance risks, i.e.
direct and indirect tax compliance, when everything is
centralized.
Burning question:How do I manage
in-country regulatory and compliance requirements when I have
pulled most of my finance resources into shared services or
offshored them?
3. Achieving 'golden' data and getting
to one version of the truth.
Burning question:How do we ensure
consistent data definitions and governance across the
business?
4. The new emerging role of finance —
owning the business performance outcomes rather than just
partnering them.
Burning question:How do I get my
finance team to want to step-up and play a pivotal role in driving
the performance of the business?
5. Developing the right capabilities within
finance to meet the future requirements of the business.
Burning question:What capability
gap do we have and therefore, what training do we need to
provide?
6. Leveraging tools and methodologies with
other support functions, e.g. HR, procurement, IT etc.
Burning question:What cost and
efficiency synergies can be achieved by moving to shared business
services as opposed to siloed finance, HR, and IT service
functions?
7. Managing treasury related risks, e.g.
currency, liquidity and commodity risks.
Burning question:Do we have the
necessary people, processes and systems to assess and manage our
financial risks in this volatile market?
8. Improving the accuracy and agility of our
planning and forecasting.
Burning question:How can we make
sure our plans and forecasts are accurate and genuinely
foresighted?
9. Driving the corporate simplification agenda
for the business, i.e. a new business model.
Burning question:How can we help
the business to drive a simplification program to embed sustainable
cost reduction?
10. Succession planning based talent
management.
Burning question:How we do
identify our top talent and foster their development to provide the
next CFO?
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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