Finance
Today’s CFO needs independent advice to help them navigate the complexity of their role. The CFO not only has to reduce the costs of the finance function but also increase the relevance and timeliness of decision support information, and act as a business partner to the different business operations. He or she also has to balance this with the challenge of cost effectively complying with increasingly complex legislation.
We can help. Our Finance team works with the CFO to ensure the finance strategy aligns with the wider business, and to optimise costs. By understanding the business drivers that shape the role of finance, we can embed a performance management process and culture that supports the delivery of corporate objectives.
Finance Transformation – we work with the CFO to understand the totality of the finance organisation and its interaction with the rest of the business. By understanding the business drivers that shape the role of finance and by comparison to best practice, we can help the CFO shape an achievable vision and migrate to it effectively.
Shared Services, Offshoring and Outsourcing – the need to reduce cost, increase transparency and control, improve service and increase flexibility have all driven the demand to implement or expand shared services. We advise clients on internal Shared Services Centre delivery and optimisation, and / or remain on the client side for outsourced solutions. We can help define a realistic and achievable business case and implementation roadmap that sets the project up for success.
Performance Management – we work with clients on the strategic drivers of value and help them to better understand and drive performance through better business planning, budgeting and forecasting and performance reporting. As a result we can bring together the goals of investors, corporate centre and business units; link individual rewards to results and ultimately grow the share price, through better, more predictable results.
Financial Statement Close Process – we help organisations make targeted improvements to the Financial Statement Closing Process. In the process we create value by improving the transparency, accuracy, timeliness and reliability of financial information.Cost Transformation – we assist in all aspects of short-term cost reduction and long-term transformation; from opportunity identification and assessment, through target operating model design to implementation support.
The future of Finance
Amid signs of economic recovery, we suggest in The future of Finance (pdf, 249K) that CFOs establish and implement a holistic framework that identifies weaknesses and potential improvements, and which helps enable Finance to be more effective, lower costs and help deliver more value to the bottom line.
CFO and finance director programme
The Ernst & Young CFO and Finance Director network provides a programme of strategic dinners and workshops, networking opportunities and technical updates. Read more.
Financial controller programme
The Financial controller’s role has never been more challenging, with a changing regulatory environment and economic instability bringing added pressures and responsibilities. The Financial controller network delivers a programme of technical workshops, dinners and networking opportunities. Read more.
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