An effective strategy for financial services

The effective work of the financial department and its compliance with the tasks facing the company can be a key factor in growth.

At the same time, 98% of companies believe that they need to improve their financial department.

The main difficulties arise when trying to combine priorities that contradict each other:

Business development

Protection of the organization’s financial assets.

Many companies plan to align the financial department strategy with the overall business strategy.
We believe that to do this, they need to ensure a balance between three priority tasks, such as control, efficiency and profitability:

Control: it is necessary to ensure the effectiveness of the management and control system in the organization.
Efficiency: it is necessary to ensure the development of the business and subject it to critical analysis, as well as improve the decision-making process within the organization.
Profitability: it is necessary to reduce costs, as well as integrate the teams of acquired companies.

Problems to be solved:

  • Inefficient and non-automated processes that require a huge amount of time for data processing
  • High costs of the finance function in relation to the value created
  • Low level of satisfaction with the work of the finance function among employees
  • Mismatch of the operating model of the finance function with the corporate strategy
  • A constantly growing number of requests from external and internal stakeholders
  • Vague and unclear strategy and vision for the development of the finance function

We can help in solving these problems:

  • Diagnostics of the current state of the key areas of activity of the finance function, in particular, a comparative analysis of the best practices of other companies
  • Providing support in formulating the vision of the finance function to promote the implementation of the corporate strategy
  • Development of an operating model that promotes effective interaction of structural units and creates the prerequisites for the implementation of the necessary changes

Benefits for our clients:

  • Focusing your financial strategy on promoting the implementation of the corporate strategy and supporting the company’s business strategy
  • Harmonization of your financial strategy with functional strategies of other structural units (IT, HR, procurement)
  • Operational and qualitative assessment of the status of achievement of target indicators defined for the financial function as a whole, as well as individually for managers and employees of its units