Starting a business is a process, not an endpoint. Goal setting is the process of deciding what you want to accomplish.
Finance teams in businesses and organisations of all sizes are increasingly under pressure to do more with less.
With much of the finance team’s time spent on operational and compliance tasks, such as processing transactions or preparing reports, leaves little time for providing analysis or insights to other areas of the business. Adding to this are resourcing pressures, fast-paced technological changes, evolving regulatory requirements, and scrutiny from stakeholders, all of which place further stress and pressure on CFOs and their finance teams.
A finance function transformation empowers leaders and their teams to be future-focused. Financial transformation can identify and address key areas of concern in both the short and long-term, including inconsistent reporting, data quality issues, outdated technologies, poor procedures or processes that no longer support or add value to the business.
How we help clients
HLB Mann Judd’s specialists can help you get the most from your finance function. Our approach ensures we work closely with your finance team, enabling them to become more efficient, deliver better outcomes to internal stakeholders, and create value for the business.
Finance transformation focuses on four key areas: Process, Technology, Data and People. We also view the finance function as a continuous journey, that is best broken down into multiple stages and projects.
Some of the ways we can assist finance teams and CFOs include:
- Software assistance – reviewing under-utilised features and functionality and considering additional modules or add-ons to improve functionality.
- Software implementation – exploring cloud-based accounting solutions for general ledger systems, streamlining purchasing and accounts payable and integrating add-ons with the current general ledger to enhance its functionality.
- Management reporting – improving the format, functionality, usability, and timeliness of management reports.
- Process improvement and documentation – reviewing existing processes to identify areas for improvement or streamlining, and documenting existing or new processes.
- Training and upskilling - ensuring staff are central to the transformation journey.