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?
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