In troubling financial times like these, it is more important than ever to have a strong grip on the state your company's finances. In an era of globalization, increasing economic pressures, and significant regulatory scrutiny, the role of today's finance executives is broader than ever. Financial management is now, more so than ever, an all-inclusive process, affecting every aspect of an organization and its overall success.
Chief financial officers (CFOs) can no longer focus solely on accounting transactions and financial reporting. They must become strategic business partners, offering specific internal and external skills and services throughout their organizations. Efficient and effective financial management must start at the top and be implemented soundly company-wide. Good financial management today means moving beyond the traditional limits of accounting. How can you prioritize the responsibilities of your finance organization to reduce costs, improve information management, and effectively communicate external financial information? At Advancina, we can provide sound guidance on the implications of strategic decisions in financial operations.
Transforming Financial Operations:
- Improving information management and building stronger partnerships - At Advancina, we work with you to develop planning, budgeting, and reporting systems that enable finance and business units to share information in timely and cost-effective ways. We help improve financial visibility in decision making, incorporating streamlined processes and collaboration into other departments.
- Boosting profitability through transformation - We can help you assess specific areas to focus on through targeted benchmarking, process analysis and business case development. Recently, we have helped clients improve revenue recognition, close and consolidation processes, shared services and outsourcing, and further automation of traditional transaction processing, such as accounts payable.
- Promoting innovation and growth - We will help you increase emphasis on business case development and performance/program management. In today's market, it's critical to develop the analytics necessary to generate quantifiable data regarding profitability metrics, price point analysis, marketing reports, and other areas of innovation.